MORRISVILLE, N.C., May 14, 2012 (GLOBE NEWSWIRE) -- Issuer Direct Corporation (OTCBB:ISDR), a market leader and innovator of disclosure management solutions (DMS) and cloud–based compliance technologies, today reported that it has closed an Asset Purchase Agreement ("APA") dated May 10, 2012 with New York Stock Transfer, LLC., ("NYST") Under the APA, current clients of New York Stock Transfer will be transitioned to Issuer Direct Corporation, effective May 11, 2012.
"The acquisition of NYST's clients will double our transfer agency client base for 2012 and enhance our growth potential with our complete service offerings going forward," stated Eddie Tobler, Director of Shareholder Services for Issuer Direct. "We will continue to deliver the same level of outstanding service that NYST has provided since it was founded. This combination of client bases will further strengthen our Company's position as a leading provider of disclosure management solutions for small- and micro-cap corporate issuers."
"We are excited about the NYST transaction in that we effectively double our transfer agency client base overnight," added Brian Balbirnie, Chief Executive Officer of Issuer Direct. "The asset purchase will not only be immediately accretive to our transfer agency business, but it will also allow us to further expand our core disclosure offerings to these clients and other relationships that NYST brings us. We are continuing to look for additional bolt-on type acquisitions that further our brand and DMS reach in the market. New York Stock Transfer, like SEC Compliance Services, fits this profile nicely".
On May 11, 2012, Issuer Direct completed the name change and notification with the Depository Trust and Clearing Corporation and the Securities and Exchange Commission. Beginning May 14, 2012, all New York Stock Transfer, LLC clients will be engaged under the brand iTransfer, a new brand of Issuer Direct. The new brand symbolizes another aspect of the Company's Disclosure Management Solution that results in saving corporate issuers thousands of dollars in yearly corporate compliance costs.
About Direct Transfer, LLC.
Direct Transfer, LLC, a wholly owned subsidiary of Issuer Direct Corporation, is an industry-leading stock transfer agent for small and mid-cap companies around the world. This shareholder services business provides a complete array of agency and registrar services beyond traditional transfer activities. By combining its online workflow technologies, certificate-on-demand system and SSAE 16 business process, Direct Transfer is leading the way in shareholder disclosure. For more information, please visit www.issuerdirect.com
About Issuer Direct Corporation:
Issuer Direct Corporation ("IDC") is a market leader and innovator of disclosure management solutions and cloud–based compliance technologies. With a focus on corporate issuers, the Company alleviates the complexity of maintaining compliance with its integrated portfolio of products and services that enhance companies' ability to efficiently produce and distribute their financial and business communications both online and in print.
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Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words "believe," "anticipate," "estimate," "expect," "intend," "plan," "project," "prospects," "outlook," and similar words or expressions, or future or conditional verbs such as "will," "should," "would," "may," and "could" are generally forward-looking in nature and not historical facts. These forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any anticipated results, performance or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company's forward-looking statements, please see the Company's Annual Report on Form 10-K for the year ended December 31, 2011, including but not limited to the discussion under "Risk Factors" therein, which the Company expects to file with the SEC later today, and which may be viewed at http://www.sec.gov.