Leatt Corp. Secures DTC Eligibility
CAPE TOWN, South Africa, Jan. 28, 2013 /PRNewswire/ -- Leatt Corporation (OTCQB: LEAT), a global developer, marketer and distributor of personal protective equipment for all forms of sports, including extreme motor sports, and whose products include the flagship Leatt-Brace®, a neck brace system designed to help prevent potentially devastating injuries to the cervical spine (neck) for helmeted sports, announced today that the company has secured full service eligibility for its shares of common stock from The Depository Trust Company.
The Depository Trust Company (DTC) is a subsidiary of the Depository Trust & Clearing Corporation 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.
"We are very pleased to have obtained DTC eligibility which we expect will simplify the process of trading and exchanging our common stock," said Sean Macdonald, Leatt Chief Executive Officer. "Our attainment of DTC eligibility is the latest step in our efforts to increase the liquidity of our common stock and enhance stockholder value," said Dr. Christopher Leatt, Chairman of the Board.
About Leatt Corporation
Leatt Corporation develops personal protective equipment and ancillary products for all forms of sports, especially extreme motor sports. The Leatt-Brace® is an award-winning neck brace system considered the gold standard for neck protection for anyone wearing a crash helmet as a form of protection. It was designed for participants in extreme sports or riding motorcycles, bicycles, mountain bicycles, all-terrain vehicles, snowmobiles and other vehicles.
This press release may contain forward-looking statements regarding Leatt Corporation (the "Company") within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the significance of the Company's DTC eligibility status; the objectives of the Company and its subsidiaries, including its ability to increase the liquidity of its common stock and enhance stockholder value; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "seeks," "should," "could," "intends," or "projects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Chief Executive Officer
+ (27) 21 557 7257
Allen & Caron, Inc.
Rudy Barrio (Investors)
Len Hall (Media)
SOURCE Leatt Corporation