LICT Corporation Shareholder Designated Charitable Contribution Program

Rhea-AI Summary

LICT Corporation (OTC Pink: LICT) is set to continue its Shareholder Charitable Contribution program, allowing registered shareholders to designate charities for the company to donate $100 per share. More details regarding the timing and mechanics are expected by year-end. LICT has contributed over $6 million in charitable donations over the past five years. The company emphasizes the importance of charitable giving and has pledged to support 501(c)3 charities selected by both shareholders and employees. Forward-looking statements regarding financial outcomes are included in the release.

Positive

• Continuation of Shareholder Charitable Contribution program, enhancing shareholder engagement.
• Over $6 million in charitable contributions made in the last five years, showcasing corporate responsibility.

Negative

• None.

RYE, N.Y.--(BUSINESS WIRE)-- LICT Corporation (OTC Pink: LICT) announced today that its Board is in final discussions regarding continuing its Shareholder Charitable Contribution program for all registered shareholders. Each registered shareholder will be eligible to designate a 501(c)3 charity to which the company will make a donation of $100 per share on behalf of the shareholder. It is currently anticipated that more details will be announced before year end regarding the mechanics and timing of the contributions.

In addition to our Shareholder Giving Program, as we have done in the past, LICT will extend the opportunity for each of our Teammates to allocate a 501(c)3 charity to whom the Company will make a donation. Our Teammates welcome the opportunity to continue to support the 501(c)3 recipients in the communities they serve.

Over the past 5 years, LICT has made more than $6.0 million in charitable contributions.

At LICT, we believe charitable giving is a cornerstone of society and an obligation for those with means to make a difference in the world. As an organization, LICT will have no control over the donations, but we are happy to make them on behalf of our shareholders and Teammates.

This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and 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, financial markets 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 successful or that financial or other targets will be met. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

LICT is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas. LICT is listed on the OTC Pink ® under the symbol LICT. For further information, please visit our website listed above.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211020006079/en/

Mario J. Gabelli

Executive Chairman &

Chief Executive Officer



Stephen J. Moore

Vice President-Finance



914-921-8821

www.lictcorp.com    

Source: LICT Corporation

FAQ

What is LICT Corporation's Shareholder Charitable Contribution program?

The program allows LICT shareholders to designate a 501(c)3 charity for donations of $100 per share.

How much has LICT contributed to charity over the past five years?

LICT has contributed more than $6 million in charitable donations during this period.

When will more details about the charitable contributions be announced?

More information regarding the timing and mechanics of the contributions is anticipated before year-end.

Is LICT Corporation involved in charitable activities for its employees?

Yes, LICT allows employees to allocate donations to charities, reinforcing community support.

What should investors know about LICT's forward-looking statements in the press release?

The forward-looking statements involve uncertainties and risks, and there's no assurance that expected outcomes will be met.