$DWAC entry PTs 36.40-44.90 Next Target PTs 90-93 and higher
CAPE TOWN, South Africa, July 1, 2021 /PRNewswire/ -- Leatt Corporation (OTCQB: LEAT), a developer and marketer of protective equipment and ancillary products for many forms of sports, especially extreme high-velocity sports, announced today that the Depository Trust Company ("DTC") has approved its common stock for DWAC/FAST transfers. This newly approved stock transfer capability will enable Leatt stockholders to transfer their shares of Leatt's common stock electronically after buying or selling on the open market.
Leatt CEO, Sean Macdonald, said, "DWAC/FAST approval is a part of our overall investor relations commitment to our stockholders. Leatt stockholders will benefit from the approval, which we expect will reduce the expense and delay associated with the processing and transfer of physical share certificates, eliminate the inherent risks and costs associated with the loss and replacement of physical stock certificates, and result in higher liquidity for our stockholders due to the increased accessibility and availability of shares."
About DWAC/FAST
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 share 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.
Leatt CEO, Sean Macdonald, said, "DWAC/FAST approval is a part of our overall investor relations commitment to our stockholders. Leatt stockholders will benefit from the approval, which we expect will reduce the expense and delay associated with the processing and transfer of physical share certificates, eliminate the inherent risks and costs associated with the loss and replacement of physical stock certificates, and result in higher liquidity for our stockholders due to the increased accessibility and availability of shares."
About DWAC/FAST
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 share 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.