Icon Media Holdings, Inc. (OTC: ICNM) a diversified global technology company that specializes in technical services for the cellular and wireless industries, is pleased to announce it has received approval from The Depository Trust Company (“DTC”) of New York, NY to become DTC electronic (DWAC/FAST) eligible.
The Depository Trust Company (DTC) is a subsidiary of the Depository Trust & Clearing Corporation DTCC, and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered “DTC eligible.” This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors. DWAC/FAST eligibility provides significant financial savings for investors on brokerage and transfer fees associated with processing of physical certificates.
With this newly approved stock transfer capability, Icon’s shareholders can now transfer their shares of ICNM electronically after buying or selling on the open market without the extra expense and delay from process of requesting and transferring physical certificates.
Companies approved for DWAC/FAST electronic transfers often experience higher trading volumes in their stock given the additional accessibility and availability of shares for trading.
“Thanks to the support of our Transfer Agent, Signature Stock Transfer, Inc., achieving ‘DTC eligibility’ is a shareholder-friendly step to greatly simplify the process of trading and exchange the Company’s common stock and maintain the highest level of efficiency, accountability and compliance standards through the electronic trading platforms. This is another important step in our evolution as a public company and we are pleased to make this announcement”, stated Rob Deakin, Chairman and CEO of Icon Media Holdings, Inc.
About Icon Media Holdings, Inc. (ICNM)
Icon Media Holdings (OTC: ICNM) is a diversified global technology company that specializes in technical and infrastructure services for the wireless industry. The Company provides turnkey small cell network, distributed antenna systems (“DAS”) and Wi-Fi technical consulting, design and implementation services through its subsidiary Spectrum Velocity®. Our customer base includes the wireless industry as well as enterprise clients.
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Forward-Looking Statements & Disclaimers:
The information in this Press Release includes certain “forward-looking” statements within the meaning of the Safe Harbor provisions of Federal Securities Laws, as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this document, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.