LICT Corporation Shareholder Designated Charitable Contribution Program

Rhea-AI Summary

LICT Corporation (OTC Pink: LICT) continues its Shareholder Charitable Contribution program, allowing registered shareholders to designate a charity for a $100 donation per share. Over the past five years, the company has contributed over $6.0 million to various charities. Shareholders must register their shares in their own name by December 17, 2021, to participate, with completed forms due by January 14, 2022. If all shares are registered, the total contribution could reach $2 million. Only 501(c)(3) charities are eligible for donations.

Positive

• Continuation of the Shareholder Charitable Contribution program, supporting shareholder engagement and community involvement.
• Over $6.0 million donated to charities in the past five years reflects a commitment to social responsibility.

Negative

• Shareholders holding shares in 'street name' are excluded from participation, potentially limiting engagement.
• The program requires action from shareholders to register shares, which may reduce participation.

RYE, N.Y.--(BUSINESS WIRE)-- LICT Corporation (OTC Pink: LICT) announced today it will continue its Shareholder Charitable Contribution program for all registered shareholders. Each registered shareholder will be eligible to designate a charity to which the company will donate $100 per share on behalf of the shareholder.

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

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

If a shareholder’s shares are registered in “street name” (i.e. a bank, broker or other institution holding the shares for the shareholder), those shares will not be eligible to participate in this charitable program. Therefore, any shareholder who has shares that are currently held in street name but wishes to participate in this program should contact the institution holding the shares to arrange for their registration in the shareholder’s own name.

Shareholders will have until December 17, 2021, to register shares in their own name to participate in the program.

LICT will then distribute a charitable contribution form to all registered shareholders. Completed forms must be returned to LICT no later than January 14, 2022, for the charitable contribution to be made. Only charities that are recognized 501(c)3 organizations will be qualified to receive the donation from LICT on the shareholder’s behalf. A list of eligible charities is available at: Guidestar.org

If all shares outstanding are registered in the shareholders’ names at the record date, the total contribution would be approximately $2 million.

Please email us at shareholdergiving@lictcorp.com with any questions.

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/20211123006160/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 the LICT Corporation Shareholder Charitable Contribution program?

It's a program where registered shareholders can designate a charity to receive a $100 donation per share from LICT Corporation.

How much has LICT Corporation donated to charities over the past five years?

LICT Corporation has contributed over $6.0 million to charities in the past five years.

What is the deadline to register shares for the LICT charitable program?

Shareholders must register their shares in their own name by December 17, 2021, to participate.

What types of charities can receive donations from LICT Corporation?

Only 501(c)(3) recognized charities are eligible to receive donations from LICT on behalf of shareholders.

What is the potential total contribution amount if all shares are registered?

If all shares are registered, the total contribution could be approximately $2 million.