HOUSTON, June 25, 2020 /PRNewswire/ -- Adams Resources
& Energy, Inc. (NYSE AMERICAN: AE) ("Adams" or the "Company")
today announced that it is scheduled to be added to the Russell
3000® Index after the US market closes on June 26, 2020 according to a preliminary list of
additions posted on the Russell Index website,
Kevin J. Roycraft, Adams' Chief
Executive Officer, commented, "We believe that joining the Russell
3000® Index will drive increased awareness among institutional
investors, while providing additional liquidity to our shares. We
look forward to joining this highly regarded index and the
opportunity to add further value for our shareholders."
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. More than $9
trillion in assets are benchmarked to or invested in
products based on the Russell US indexes. Each June, the Russell US
index family is realigned to reflect market changes in the last
year. The final index membership lists, with breakouts for the
Russell 1000® Index, the Russell 2000® Index, and the Russell
Midcap Index, will be published on Monday,
June 29 when the Russell Reconstitution takes effect and the
newly reconstituted indexes begin to operate.
Adams Resources & Energy, Inc. is primarily engaged
in the business of crude oil marketing, transportation and storage,
tank truck transportation of liquid chemicals and dry bulk and ISO
tank container storage and transportation through its two
subsidiaries, GulfMark Energy, Inc. and Service Transport Company,
respectively. For more information, visit
Cautionary Statement Regarding Forward-Looking
This news release contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements relate to future events and anticipated results of
operations, business strategies, and other aspects of our
operations or operating results. In many cases you can identify
forward-looking statements by terminology such as "anticipate,"
"intend," "plan," "project," "estimate," "continue," "potential,"
"should," "could," "may," "will," "objective," "guidance,"
"outlook," "effort," "expect," "believe," "predict," "budget,"
"projection," "goal," "forecast," "target" or similar words.
Statements may be forward looking even in the absence of these
particular words. Where, in any forward-looking statement, the
Company expresses an expectation or belief as to future results,
such expectation or belief is expressed in good faith and believed
to have a reasonable basis. Forward-looking statements are subject
to risks and uncertainties that could cause actual results to
differ materially from those expressed or implied in the
forward-looking statements, including, but not limited to: driving
increased awareness among institutional investors, providing
additional liquidity to Adams' shares, and the opportunity to add
value for Adams' shareholders. However, there can be no assurance
that such expectation or belief will result or be achieved. Unless
legally required, Adams undertakes no obligation to update publicly
any forward-looking statements, whether as a result of new
information, future events or otherwise.
Contact: Tracy E.
EVP, Chief Financial Officer
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SOURCE Adams Resources & Energy, Inc.