Company’s CEO John Hewitt Rang the Bell
Liberty Tax celebrated its status as a new public company with an official company group present for the bell ringing as NASDAQ opened August 13 at 9:30 a.m.
Liberty Tax Founder and CEO John Hewitt was official bell ringer, and many Liberty Tax franchisees and employees were on hand for the festivities. JTH Holding, Inc. the parent company of Liberty Tax Service (NASDAQ:TAX), listed shares of Class A Common Stock on the NASDAQ Global Market beginning July 2, 2012.
“Becoming a public company is a milestone for our company, and it was an honor to be on hand to open trading on August 13,” commented John Hewitt, Founder and CEO of Liberty Tax.
As part of the NASDAQ approval process, the Company completed its application to make its shares of Class A Common Stock "DTC eligible," and also received approval of the Depository Trust Company to treat the Class A Common Stock as DTC eligible as of June 27, 2012.
The Depository Trust Company (DTC) is a subsidiary of the Depository Trust & Clearing Corporation DTCC, and manages the electronic clearing and settlement of publicly traded company stocks and other securities. Securities that are eligible to be electronically cleared and settled through the DTC are considered "DTC eligible." This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors.
About JTH Holding, Inc.
JTH Holding, Inc. is the parent company of Liberty Tax Service. Liberty Tax Service is the fastest-growing retail tax preparation company in the industry’s history. Founded in 1997 by CEO John T. Hewitt, a pioneer in the tax industry, Liberty Tax Service has prepared over 10 million individual income tax returns. With 43 years of tax industry experience, Hewitt stands as the most experienced CEO in the tax preparation business, having also founded Jackson Hewitt Tax Service. Liberty Tax Service is the only tax franchise on the recently released Forbes“Top 20 Franchises for the Buck.”