DWAC/Fast Eligibility Approval from DTC
Sydney, April 21, 2021 AEST (ABN Newswire) - AdvanceTC Ltd (
ATCLF:OTCMKTS) (NSX:A88) is pleased to advise that the Company has received approval from The Depository Trust Company ("DTC") of New York and is now DTC electronic (DWAC/FAST) eligible. With this approved stock transfer capability, AdvanceTC shareholders can transfer their shares of the Company electronically after buying or selling on the open market without the extra expense and delay resulting from the redundant process of requesting and transferring physical certificates.
AdvanceTC shareholders will benefit as a result of the DWAC/FAST approval as the time required for stock deposits and withdrawals into brokerage accounts reduces from weeks to days, eliminating the inherent risks and costs associated with the loss and replacement of physical stock certificates. An additional benefit is that companies which are approved for DWAC/FAST electronic transfers often experience higher liquidity in their stock given the additional accessibility and availability of shares for trading.
About DWAC/FAST
DTC's Deposit and Withdrawal at Custodian ("DWAC") service provides participants with the ability to make electronic book-entry deposits and withdrawals of eligible securities into and out of their DTC book-entry accounts using a Fast Automated Securities Transfer service ("FAST") transfer agent as the distribution point. DWAC allows participants to instruct DTC regarding deposit and withdrawal transactions being made directly via a FAST transfer agent. The FAST system eliminates the movement of physical securities certificates for transfers of securities registered in the name of DTC's nominee, Cede & Co, on the transfer agent's books. DTC and its FAST transfer agents reconcile the results of participants' deposit and withdrawal activities electronically on a daily basis.
About AdvanceTC Limited
AdvanceTC is a premier technology company specializing in the design and development of mobile telecommunication and computing devices. AdvanceTC is listed on NSX Australia (NSX:A88). More information on the company can be found at www.advancetc.com
| ||
|
