The Mexico Equity and Income Fund, Inc. (the “Fund”) (NYSE: MXE)(NYSE: MXEPR), announced that it is scheduled to hold its Annual Meeting of Common and Preferred Stockholders on November 27, 2009, at 10:00 a.m. Eastern time. The meeting is being held for the following purposes:
1) To elect the Class II Directors to the Fund’s Board of Directors.
2) To consider and vote upon such other matters as may properly come before the meeting or any adjournment thereof.
The Fund also announced financial results for the fiscal year ended July 31, 2009.
On July 31, 2009, total net assets of the Fund were $61,424,765 and the net asset value (“NAV”) for common and preferred stock was $7.37 per share, based on 7,731,009 and 603,001 shares outstanding, respectively. The Fund’s common stock closed at $6.08 per share and its preferred stock closed at $6.85 per share on the New York Stock Exchange on July 31, 2009.
For the fiscal year ended July 31, 2009, the Fund’s net realized and unrealized losses totaled $56,212,565 and the Fund’s accumulated net investment loss was $409,861.
On July 31, 2009, the Fund’s investments in equity securities of Mexican companies totaled $54,936,722 (or 89.44% of the Fund’s net assets), while cash and cash equivalents totaled $7,789,906 (or 12.68% of the Fund’s net assets). Other liabilities in excess of other assets totaled $1,301,863 (or (2.12)% of the Fund’s net assets).
As of July 31, 2009, the Fund’s 10 largest common stock investments represented 61.9% of the Fund’s net assets and are listed below in descending order:
1. Empresas ICA Sociedad Consoladora, S.A. de C.V. 9.6%
2. Grupe, S.A. de C.V. 8.7%
3. Corp GEO S.A. de C.V. 8.3%
4. Promotora y Operadora de Infraestructura, S.A. de C.V. 7.6%
5. Grupo Mexico, S.A. – Series B 5.9%
6. Kimberly-Clark de Mexico, SAB de C.V. 4.9%
7. Grupo Bimbo, SAB de C.V. 4.7%
8. America Movil, S.A. de C.V. – Class L 4.5%
9. Industrias Penoles, S.A. 4.4%
10. Fomento Economico Mexicano S.A. de C.V. 3.3%
Tags: Equity, Fund, income, Mexico, stockholders
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