Diamond Hill Financial Trends Fund, Inc. Announces Board Approval Of Prospective Fund Liquidation
COLUMBUS, Ohio, Dec. 7, 2012 /PRNewswire/ -- The Diamond Hill Financial Trends Fund, Inc. (NASDAQ: DHFT) (the "Fund") announced that its Board of Directors has approved submitting a Plan of Liquidation and Dissolution (the "Plan") to the Fund's shareholders for their consideration and approval at a special meeting anticipated to be held on or about February 28, 2013.
If shareholders approve the Plan, the Fund's investment adviser will begin the orderly liquidation of the Fund's assets, and will determine and pay, or reserve for, all known liabilities and obligations of the Fund. The Fund will make one or more liquidating distributions in cash to the Fund's shareholders. If a majority of outstanding shares do not approve the Plan, the Fund will continue its operations, including pursuing its stated investment objective, and the Board may consider other available options.
About the Fund:
Diamond Hill Financial Trends Fund, Inc. is a diversified, closed-end fund. The Fund seeks long-term capital appreciation by investing in stocks of U.S. financial services companies of any size and by typically maintaining long positions between 80% and 115% of its assets and short positions between 0% and 25% of its assets.
SOURCE Diamond Hill Financial Trends Fund, Inc.