MELBOURNE, Australia, July 18, 2014 (GLOBE NEWSWIRE) -- Propanc Health Group Corporation (OTCQB:PPCH) ("Propanc" or "the Company"), an emerging healthcare company focused on the development of new and proprietary treatments for cancer patients, is pleased to announce that the Depository Trust Corporation (the "DTC") has approved its common stock for DWAC/FAST transfer through the Company's Transfer Agent, V Stock, LLC. This newly approved stock transfer capability will enable Propanc's shareholders to transfer their shares of Propanc stock electronically after buying or selling on the open market, without the extra expense and delay associated with the processing and transfer of physical share certificates.
In addition to expediting markedly the transactional process, literally from weeks to hours, DWAC/FAST approval also serves to eliminate the risks associated with the loss and replacement of physical share certificates. Another side benefit is that companies approved for DWAC/FAST electronic transfers often experience higher trading volumes in their stock given the additional accessibility and availability of shares for trading.
"We are pleased to share this important step with our shareholders," said James Nathanielsz, Propanc's Chief Executive Officer. "Not only does becoming DWAC/FAST eligible provide our existing shareholders with new efficiencies, both in cost and time savings, it should also aid in facilitating more trading in the open market, thereby enabling us to continue expanding our shareholder base," he added.
DWAC allows participants to instruct DTC regarding deposit and withdrawal transactions being made directly via a FAST transfer agent. The FAST system eliminates the movement of physical share certificates for transfers of securities registered in the name of DTC's nominee, Cede & Co., on the transfer agent's books. DTC and its FAST transfer agents reconcile the results of participants' deposit and withdrawal activities electronically on a daily basis.
Propanc is a development stage healthcare company whose current focus is on the development of new cancer treatments for patients, particularly those suffering from pancreatic and colorectal cancer. Together with its scientific and oncology consultants, Propanc has developed a rational, composite formulation of anti-cancer compounds which enable and support a host of cancer treatment options. Propanc's leading products are variations upon its novel formulation and involve or employ proenzymes, which are inactive precursors of enzymes. As a result of positive early indications of the anti-cancer effects of its technology, Propanc intends to submit its principal proenzyme treatment to the rigorous, formal non-clinical and clinical development and trial processes required to obtain the regulatory approval necessary to commercialize that formulation and any product(s) derived and/or to be derived therefrom. For more information, please visit: www.propanc.com.
Certain of the matters discussed in this announcement involve risks and uncertainties including, without limitation, those regarding the Company's ability to establish and maintain the proprietary nature of its technology through the patent process, its ability to license from others patents and patent applications, if necessary, to develop certain products, its ability to implement its long range business plan for various applications of its technology, and its ability to enter into agreements with any necessary marketing and/or distribution partners for purposes of commercialization. This is not a solicitation to buy or sell securities and does not purport to be an analysis of the company's financial position. See Propanc's most recent Quarterly Report on Form 10-Q and related 8K filings.