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Annual Meeting of StockholdersThe Annual Meeting of Stockholders was held on March 28, 2000. For those nomi- nated, the following votes were cast for directors:
votes for votes withheld
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(A) Enrique R. Arzac: 45,653,918 617,467
(B) Daniel E. Emerson: 45,554,074 717,311
(C) Thomas H. Lenagh: 45,316,443 954,942
(D) W.D. MacCallan: 45,565,120 706,265
(E) W. Perry Neff: 45,573,260 698,125
(F) Douglas G. Ober: 45,552,091 719,294
(G) Landon Peters: 45,674,933 596,452
(H) John J. Roberts: 45,496,388 774,997
(I) Susan C. Schwab: 45,464,906 806,479
(J) Robert J.M. Wilson: 45,522,082 749,303
A proposal to approve and ratify the selection of PricewaterhouseCoopers LLP as the firm of independent accountants of the Company for 2000 was approved with 45,501,965 votes for, 350,221 votes against, and 419,199 votes ab- staining. A proposal to approve an amendment to Article SIXTH of the Articles of Incor- poration to increase the number of authorized shares of Common Stock of the Company from 75,000,000 shares to 150,000,000 shares was approved with 41,970,457 votes for, 3,497,900 votes against, and 803,028 votes abstaining. A stockholder proposal to request the Board of Directors to consider promptly causing the Company to conduct a self-tender offer for at least 5% of the out- standing shares at or close to net asset value, which proposal was opposed by the Board of Directors, was defeated. Of the 34,774,726 shares that were voted on this proposal, 5,276,640 shares (15.1 percent) were voted for, 27,073,950 shares (77.8 percent) were voted against, and 2,424,136 shares (6.9 percent) abstained. Of the total number of shares outstanding as of March 28, 2000, only 9.86 percent were voted for the proposal. Stockholder proposals to be included in the proxy statement for next year's Annual Meeting must be received at the offices of the Company by October 26, 2000. The date stated in the 2000 Proxy Statement was incorrect. ------------------- This report, including the financial statements herein, is transmitted to the stockholders of The Adams Express Company for their information. It is not a prospectus, circular or representation intended for use in the pur- chase or sale of shares of the Company or of any securities mentioned in the report. The rates of return will vary and the market value of an investment will fluctuate. Shares, if sold, may be worth more or less than their origi- nal cost. Past performance is not indicative of future investment results. |
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