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Legible Appoints Peter Diemer as Strategic Advisor and Receives DTC Eligibility Approval
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Legible Inc. has appointed Peter Diemer as a Strategic Advisor, bringing extensive experience in media and technology to enhance the company's initiatives in rich media Living Books and digital collectibles. Diemer's background includes leadership roles at Live Nation and Majik Bus Entertainment. Additionally, Legible has received DTC eligibility, allowing its shares to clear electronically in the U.S., potentially increasing liquidity and market access for investors. This move is expected to broaden the company's investor base and enhance trading efficiency.
Positive
Appointment of Peter Diemer as Strategic Advisor brings extensive media and technology experience.
DTC eligibility enhances liquidity and trading efficiency for investors.
Negative
None.
VANCOUVER, British Columbia--(BUSINESS WIRE)--
Legible Inc. (CSE: READ) (FSE: D0T) (OTC: LEBGF) ("Legible” or the “Company”) is pleased to announce the appointment of Mr. Peter Diemer as a Strategic Advisor.
Mr. Diemer is an entertainment, media, & technology executive with global experience and an outstanding track record in promoting, developing and growing world-class brands. He is a dynamic entrepreneur and the co-founder of Majik Bus Entertainment, a partnership with CBC to develop music-related content from one of the world’s largest untapped television and radio archives. Majik Bus Entertainment was an early adopter and developer of blockchain registration and verification for both digital and physical items. Diemer is former VP, Strategic Development of Live Nation Entertainment, the world’s leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, and Live Nation Sponsorship. He has held senior executive positions for Capitol-EMI and MCA/Universal Records, where he managed artist and media relations, radio and television promotion, and governmental affairs, and Hip Digital Media, a pioneer in online media distribution. Mr. Diemer was an Advisor for LoungeBuddy, the award-winning Global Travel App for airport lounge access, (acquired by American Express) and was VP of Marketing and Sales for Yangaroo.
Mr. Diemer brings years of experience and a large premier client network, as well as key celebrity contacts from the entertainment industry, to help Legible build the world's first collection of rich media Living Books and digital collectibles. These offerings will feature exclusive content from globally renowned performers and artists, providing a truly unique and immersive experience for our readers. Mr. Diemer joins a Legible team that is dedicated to bringing the best in book entertainment to the forefront and creating a platform for these talented individuals to showcase their work.
“We are excited and proud to have the opportunity to work with Mr. Diemer, a highly influential leader in the entertainment and media world,” said Legible CEO Kaleeg Hainsworth. “Peter brings vast experience and proven leadership in the combined areas of sales, music and technology. His expertise, entrepreneurial drive and well-honed skills will help our management team to quickly grow Legible’s user base in 2023.”
DTC Eligibility
In addition, Legible is pleased to announce that the Company has received approval from the Depository Trust Company (“DTC”) that its common shares are now eligible for electronic clearing and settlement through DTC in the United States. The Company has been issued Cusip 52475E 106. DTC is a subsidiary of the Depository Trust & Clearing Corporation (DTCC), which manages the electronic clearing and settlement of publicly traded securities in the United States. Securities that are eligible to be electronically cleared and settled through DTC are considered “DTC eligible”. With DTC eligibility, existing Legible investors based in the United States can now benefit from potentially greater liquidity and faster execution speeds. In addition, DTC eligibility also allows for new investors to efficiently trade the Company’s common shares, whereas they may have been restricted in the past, simplifying the process of trading common shares of the Company in the United States and allowing the Company to access a larger pool of investors. This electronic method enables a security to be traded over a much wider range of brokerage firms. The Company’s shares are currently quoted on the OTC Market under the trading symbol LEBGF and will not change as part of this process.
"DTC eligibility is an important step for Legible in our ongoing efforts to introduce our Company to a broader audience of potential investors," Hainsworth stated.
About Legible Inc.
Legible Inc. is a book entertainment and media company with a mission: millions of books for billions of readers, globally. Legible provides innovative e-reading experiences to anyone anywhere with an internet-enabled device, and has developed two high-value verticals: a browser-based, mobile-first B2C ebook entertainment platform delivering a global online bookstore and reading system for the emerging web with high-growth potential called Legible.com, offering beautiful, accessible & immersive reading for next-generation readers; and second, a global B2B ebook conversion and production service with high revenue potential called Legible Publishing — a world-class, high-volume digital conversion service for publishers and organizations, and an ebook content remediation service for the accessibility community. Legible Publishing also creates multimedia ebooks, branded as Living Books, that empower authors and publishers to deliver dynamic and unique content. Founded and led by a team of technologists, authors, ebook publishers, designers, and publishing industry insiders, Legible is transforming the digital publishing industry and gaining market share through innovative, 21st century publishing and global reading experiences. Legible embraces core values of sustainability, accessibility, and global literacy.
Visit Legible.com and discover the place where ebooks come to life.
Cautionary Note Regarding Forward Looking Information
This Press Release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding Legible’s business. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Legible's control, including the impact of general economic conditions, industry conditions, currency fluctuations, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Legible believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward- looking information. As such, readers are cautioned not to place undue reliance on the forward- looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Legible does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN UNITED STATES
What is the significance of Peter Diemer's appointment for LEBGF?
Peter Diemer's appointment as Strategic Advisor offers Legible valuable expertise in media and technology, potentially driving growth in their innovative projects.
How does DTC eligibility impact Legible's stock LEBGF?
DTC eligibility allows Legible's shares to be electronically settled in the U.S., which could attract more investors and enhance trading liquidity.
When was Peter Diemer appointed as a Strategic Advisor for Legible?
Peter Diemer was appointed as a Strategic Advisor to Legible Inc. as announced in the recent press release.
What are Living Books in relation to Legible's business?
Living Books are rich media digital collectibles being developed by Legible to offer unique reading experiences featuring exclusive content from renowned artists.
What does DTC eligibility mean for Legible Inc. shareholders?
DTC eligibility means that Legible's common shares can be traded more easily through U.S. brokerage firms, potentially increasing the stock's liquidity.
