Veltex Corporation and Depository Trust Company Reach Agreement
All DTCC Services Reinstated Immediately
CHICAGO, IL / ACCESSWIRE / October 20, 2014 / Veltex Corporation ("Veltex") (VLXC) announced today that the corporation has received notice from the Depository Trust Company ("DTCC") that effective October 17, 2014 DTCC has reinstated all services for Veltex Corporation ("Veltex") common shares currently listed on the OTC market.
Stephen G. Macklem, CFO of Veltex quantified in a statement, "Veltex, thru the retention of the Law Offices of Hamilton & Associates Law Group, P.A. and its principal Veltex attorney Brenda L. Hamilton, has received communications that effective October 17, 2014, all participants, depository facilities and pledgee banks have been notified by DTCC that DTCC has reinstated all services for Veltex. This is just one more achievement towards maximizing shareholder value. This process took time, effort and patience on behalf of the board, management and our loyal shareholders. Broker dealers' compliance departments will be notified over the coming days if they have not already been notified by DTCC."
Ms. Hamilton commented "when a client, such as Veltex, provides and responds to all DTCC requests in a straightforward and transparent manner, my office can get professional results. Veltex and its management delivered all the required documents and data DTCC requested in a forthright and timely manner."
Veltex attorney Merle L. Royce of the law offices of Merle L. Royce in Chicago noted, "Veltex has now cleared all issues with DTCC and with the retention of a major transfer agent in New York, American Stock Transfer and Trust, any outstanding matters per the trading of Veltex common stock are finally behind the corporation."
Veltex will update shareholders with developments as progress warrants on legal, tax and accounting matters. Veltex Corporation seeks to update shareholders on the immediate future of the company as developments warrant. We look forward to creating partnerships and alliances that will highlight our comparative and competitive advantages in the holding industry and in general.
About Veltex Corporation:
Veltex Corporation, incorporated in Utah September 17, 1987, is a public holding corporation, which maintains its corporate headquarters in Chicago, Illinois. The company's common shares trade OTC Markets under the symbol VLXC.
Safe Harbor / Forward Looking Statement:
Safe Harbor Statement Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Readers 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 indicated in the forward-looking statements as a result of various factors. This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Veltex or its management "believes," "expects," "anticipates," "foresees," "seeks," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe Veltex's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company, Veltex, as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
CONTACT:
Investor Contact
Stephen G. Macklem
Veltex Corporation
312.235.4014
www.Veltex.com
SOURCE: Veltex Corporation
