COLUMBUS, Ohio, Feb. 28, 2013 /PRNewswire/ -- Diamond Hill Financial Trends Fund, Inc. (NASDAQ: DHFT) today announced that, at a Special Meeting of Shareholders held today, shareholders approved a Plan of Liquidation and Dissolution of the Fund (the "Plan"). The Plan is expected to take effect on or about March 1, 2013.
Subsequent to the Plan's effectiveness, the Fund will immediately begin to satisfactorily resolve all possible claims pending against the Fund and/or its Board, will cease to invest assets in accordance with its investment objective, and will as soon as reasonable and practical complete the sale of the portfolio securities it holds in order to convert its assets to cash. It is currently anticipated that the liquidation will be completed in March 2013.
In addition, in connection with the liquidation, the Fund announced that the common shares will continue to trade the "regular way" on NASDAQ through March 7, 2013 and will be suspended from trading before the opening of trading on March 8, 2013.
About the Fund: Diamond Hill Financial Trends Fund, Inc. is a diversified, closed-end fund with $47 million in net assets. The Fund seeks long-term capital appreciation by typically investing between 80% and 115% of its assets long and sell short between 0% and 25% of its assets in stocks of U.S. financial services companies of any size.
SOURCE Diamond Hill Financial Trends Fund, Inc.