The company announced that its common shares are now eligible for electronic clearing and settlement in the United States through the Depository Trust Company (“DTC”). DTC Eligibility is expected to simplify the process of trading and enhance the liquidity of GFI’s shares in the United States.
The Company’s shares began trading on the OTCQX on September 28, 2022, under the ticker “PEASF”.
The DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be “DTC eligible”. This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements.
Bill Murray, Chief Financial Officer remarked, “This is an exciting and important milestone for GFI, increasing convenience to our current and prospective shareholders in the US public markets. Being DTC eligible will make the trading of our stock easier, faster, and cheaper for a wider array of investors.”
