Adams Express Company : Extends Share Repurchase Program
12/08/2011| 03:00pm US/Eastern
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BALTIMORE, MARYLAND - DECEMBER 8, 2011 - The Board of
Directors of The Adams Express Company (NYSE:ADX) voted today
to extend its share repurchase program and has authorized the
repurchase of up to 5% of the outstanding shares of the
Company's common stock (i.e., up to 4,446,272 shares) through
December 31, 2012. Any purchases that occur will be made in
the open market when the shares are trading at a discount of
at least 10.0% and market conditions and portfolio management
considerations otherwise warrant.
The repurchase program was initiated in 1999 and has been
reauthorized by the Board each year since. The Company has
not repurchased any shares this year under the repurchase
program.
Adams Express is a Baltimore-based closed-end investment
company. It is traded on the New York Stock Exchange under
the ticker symbol: ADX.
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For further information, please contact:
Douglas G. Ober, Chairman and Chief Executive Officer
Lawrence L. Hooper, Jr., Vice President, General Counsel &
Secretary
at (410) 752-5900 or (800) 638-2479
For your convenience, all Press Releases are posted to our
website. If you would like to receive future Press Releases
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