Atlanta, GA, Feb. 24, 2014 (GLOBE NEWSWIRE) -- Light Media (OTC Markets: LGMH), Inspirational Media Specialist, announced today today that it has attained Depository Trust & Clearing Corporation full eligibility ("DTC Eligibility") for the company's common shares trading under the stock ticker symbol (LGMH). Through multiple operating facilities and data centers around the world, Depository Trust & Clearing Corporation and its subsidiary companies automate, centralize, and standardize the processing of financial transactions for thousands of institutions worldwide, processing securities transactions valued at approximately US$1.7 quadrillion in 2011 alone. Expert guidance and consultation in securing DTC Eligibility for LGMH was facilitated by VStock Transfer, in close cooperation with RTCO. Additionally, as further described below, Light Media confirmed that it has repurchased 256,900 common shares.
"Attaining full DTC eligibility is essential to micro-caps, like Light Media, because it provides market makers and brokerage firms with an efficient and effective means of making, moving and settling trades electronically (paperless trading), thereby enabling greater liquidity and expansion of the pool of prospective shareholders worldwide. Having reached this milestone, LGMH continues forward on the steady trek to higher ground," said Danny Wilson, CEO, Light Media. Rom. 10:36.
Stock Repurchase Update: On February 21, 2014, Light Media repurchased 10,000 common shares, in open market transactions, at an average price of $0.0125 per share. Light Media has repurchased 256,900 common shares, via open market transactions at an average price of $0.0098 per share, through February 24, 2014, leaving an available stock repurchase amount of 1,993,100 common shares via previously-announced Stock Repurchase Program.
About DTCC: Through multiple operating facilities and data centers around the world, DTCC and its subsidiary companies automate, centralize, and standardize the processing of financial transactions for thousands of institutions worldwide. With 40 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry, simplifying the complexities of clearance, settlement, asset servicing, global data management and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, derivatives, money market instruments, syndicated loans, mutual funds, alternative investment products, and insurance transactions. In 2011, DTCC's subsidiaries processed securities transactions valued at approximately US$1.7 quadrillion. Its depository provides custody and asset servicing for securities issues from 122 countries and territories valued at US$39.5 trillion. DTCC's global OTC derivatives trade repositories record more than US$500 trillion in gross national value of transactions made worldwide across multiple asset classes.
About VStock Transfer: VStock Transfer is a stock transfer agent providing best-in-class service combined with a cost savings structure. Founded by lawyers and managed by lawyers to better service companies, counsel and shareholders, VStock Transfer offers a unique combination of technology and proactive, energetic, personalized and experienced customer service. We believe that people buy from people. We pride ourselves on offering a personal relationship with each of our clients while offering the benefit of our knowledge, experience and responsiveness. VStock Transfer offers services online that provide you and your shareholders with up to the minute data, reports and powerful online tools to enhance your stock transfer experience and make stock option administration a seamless process. For more information, please visit: www.VStockTransfer.com.
About Registrar & Transfer Co. (RTCO): Founded in 1899, Registrar and Transfer Company is the nation's oldest, most widely respected specialist in the stock transfer business. Over the years, thousands of banks and public companies, such as Inland Real Estate Corporation, Praxair Inc., Dillards Inc., Chico's FAS Inc., M&T Bank Corporation, and BancorpSouth, Inc, trading on all U.S. exchanges, have relied on us to provide efficient, complete, in-house services with the very highest standards of professional, yet personal customer service. At R&T, we add true value to your organization by providing unparalleled service and quality for very low fees. We pride ourselves in being an industry leader with the expertise and flexibility to quickly recognize and adapt to the changing needs of our clients and their investors. For more information, please visit: www.RTCO.com.
About Light Media: Light Media (OTC Markets: LGMH), Inspirational Media Specialist, markets, produces and distributes inspirational music, video, video games, print media and entertainment in the Inspirational Media space through its network of radio, Internet, television, print and special events global business platforms and marketing and alliance partners. Light Media is also the 20th publicly-traded radio/media conglomerate (member) of the prestigious RBR-TVBR Stocks Index (see full RBR-TVBR Media Index listing at: www.RBR.com. For more information, please visit: www.LGMH.com; www.LightMediaHoldings.com; or www.InvaluableMedia.com.
Cautionary Note Regarding Forward-Looking Statements: This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Light Media (OTC: "LGMH") and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.