SOURCE: WRIT Media Group, Inc.
LOS ANGELES, CA--(Marketwired - Feb 5, 2014) - WRIT Media Group, Inc., formerly known as Writers' Group Film Corp. (OTCQB: WRITD) is pleased to announce that the Company has completed negotiations with the Depository Trust & Clearing Corporation ("DTCC") and as of February 4, 2014, the DTCC's "Administrative Chill" on clearing WRIT stock certificates was removed.
Shareholders who had experienced difficulty or additional costs when depositing the Company's shares manually are now able to have their shares deposited electronically in street name. DTCC has resolved all issues and cleared the Company to resume accepting deposits of the Company's common stock for book entry transfer services. All deposit restriction chills have been removed and the Company is now once again fully "DTCC Eligible." DTCC's removal of the chill now allows shareholders with online brokerage accounts with firms such as Scottrade, ETRADE, TD Ameritrade and other full service brokerage firms to deposit new shares of WRIT's common stock in the electronic system that controls clearance and settlement. The Company has over 126 active shareholders who should benefit from the additional number of choices now available to them as a result of this action.
The re-instatement of the DTC depository services is an instrumental and enormous accomplishment for WRIT Media Group. We are pleased with the efforts of our Transfer Agent, Signature Stock Transfer, our Attorney, Lorin A Rosen of LAR Law Group, and the DTCC itself in removing the chill. This will allow our shareholder to once again deposit certificates in street name.
For further information, please refer to your individual brokers concerning their respective policy modifications due to the lifting of the DTCC "Chill".
Companies: WRIT Media Group, Inc. (OTCQB: WRIT)
Cautionary Note Regarding Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in WRIT's latest 10-Q filed November 19, 2013. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.