LICT Corporation Continues Share Repurchase Program and Evaluation of Businesses
LICT Corporation has announced an increase in its stock repurchase authorization to a total of 1,000 shares, up from 335 shares remaining. The company believes the current market undervalues its long-term prospects, prompting this continuation of the buyback program. LICT is actively seeking to enhance shareholder value through growth across its subsidiaries in broadband and telecommunications, while also exploring potential acquisitions.
- Increased stock buyback authorization to 1,000 shares.
- Belief that current market undervalues long-term prospects, potentially boosting shareholder value.
- None.
LICT Corporation (“LICT” or the “Company”, OTC Pink ®: LICT) is today announcing that its Board of Directors (the “Board”) has increased the Company’s authorization to repurchase its stock to a total of 1,000 shares. Prior to this increase, there had been 335 shares remaining for repurchase under the Board’s prior authorizations. LICT continues its buyback program because it believes that the current market under values the long-term prospects of the company.
As previously stated, the Company continues to systematically seek, analyze and evaluate a full range of means to expand the scope and scale of its businesses, to accelerate growth across all of them, and thereby enhance our shareholders’ value.
This release contains certain forward-looking information 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, including without limitation anticipated financial results, financing, capital expenditures and corporate transactions. It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation, business conditions and financial markets, regulatory and other approvals, and the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com. As a result, there can be no assurance that any possible transactions will be accomplished or be successful, or that financial targets will be met. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.
LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas.
LICT Corporation is listed on the OTC Pink® under the symbol LICT. For further information visit our website at http://www.lictcorp.com.
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FAQ
What is the recent stock buyback announcement from LICT?
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Why is LICT Corporation continuing its stock buyback program?