October 5, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — The Allied Defense Group, Inc. (OTC: ADGI) said that its stockholders voted to approve the dissolution of ADG under a plan of complete liquidation and dissolution.

According to the firm, around 55.4% of the outstanding shares of ADG's common stock as of July 26, 2010, the record date for the special meeting, were voted to approve the dissolution of ADG.

The Allied board of directors said that it is in the best interests of ADG and our stockholders to delay the filing of a certificate of dissolution with the Delaware Secretary of State so that its stockholders may continue to transfer the common stock while the company resolves matters relating to a DOJ subpoena. Additionally, ADG said it will continue to file all periodic reports required under the Securities Exchange Act of 1934, in a timely manner until at least August 31, 2011.

In early September, Virginia-based Allied Defense completed the sale of substantially all of its assets to Chemring. Chemring paid approximately $59.6 million in cash and assumed certain specified liabilities in exchange for all of the capital stock of Mecar sprl (formerly Mecar SA), a wholly owned subsidiary of ADG, and substantially all of the assets of Mecar USA, Inc., another wholly owned subsidiary of ADG.

 ADG has no significant operating assets as a result of the asset sale. As previously announced, ADG will reconvene the adjourned special meeting of its stockholders at 10:00 a.m. on September 30, 2010 at 8000 Towers Crescent Drive, Suite 260, Vienna, Virginia 22182 in order to vote on a proposal to dissolve ADG.

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