Adams Resources & Energy, Inc. To Join Russell 3000® Index

Rhea-AI Summary

Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) will join the Russell 3000® Index after the US market closes on June 26, 2020. This addition is expected to increase institutional investor awareness and provide greater liquidity for its shares. The Russell indexes, which manage over $9 trillion in assets, are crucial for investment managers and investors. The final membership lists, including the Russell 1000® and Russell 2000® indexes, will be published on June 29, 2020.

Positive

• Inclusion in Russell 3000® Index enhances visibility among institutional investors.
• Expected increase in liquidity for Adams' shares.

Negative

• None.

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, www.ftserussell.com. 

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 www.adamsresources.com.

Cautionary Statement Regarding Forward-Looking Statements
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. Ohmart
EVP, Chief Financial Officer
tohmart@adamsresources.com 
(713) 881-3609

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SOURCE Adams Resources & Energy, Inc.

FAQ

When will Adams Resources & Energy join the Russell 3000® Index?

Adams Resources & Energy is set to join the Russell 3000® Index after the US market closes on June 26, 2020.

What does the Russell 3000® Index membership mean for AE?

Joining the Russell 3000® Index is expected to increase awareness among institutional investors and enhance liquidity for AE shares.

How much in assets are managed by the Russell indexes?

The Russell indexes manage over $9 trillion in assets.

When will the final Russell index membership lists be published?

The final index membership lists will be published on June 29, 2020.