LICT Corporation Shareholder Designated Charitable Contribution Program

Rhea-AI Summary

LICT Corporation (OTC Pink: LICT) announces the continuation of its Shareholder Charitable Contribution program, allowing registered shareholders to designate a charity to receive a $100 per share donation. The company has made over $8.4 million in charitable contributions since 2016. Shareholders with shares held in street name must register them in their own name by February 15, 2024, to participate. The charitable contribution form must be returned to LICT by March 11, 2024. Only recognized 501(c)(3) organizations are eligible to receive the donation, and the total contribution could be approximately $1.7 million if all shares outstanding are registered in shareholders' names at the record date.

RYE, N.Y.--(BUSINESS WIRE)-- LICT Corporation (OTC Pink: LICT) announces today that 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 make a donation of $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.

Since the program’s inception in 2016, LICT has made more than $8.4 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 February 15, 2024, to register shares in their own name to participate in the program. LICT will distribute a charitable contribution form that must be returned to LICT no later than March 11, 2024, 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 $1.7 million.

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/20240116263039/en/

Mario J. Gabelli

Executive Chairman & Interim 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?

LICT Corporation's Shareholder Charitable Contribution program allows registered shareholders to designate a charity to receive a $100 per share donation.

How much has LICT Corporation donated through the program since 2016?

LICT Corporation has made over $8.4 million in charitable contributions through the program since 2016.

What is the deadline for shareholders to register their shares in their own name to participate in the program?

Shareholders have until February 15, 2024, to register their shares in their own name to participate in the program.

What is the deadline for returning the charitable contribution form to LICT Corporation?

The charitable contribution form must be returned to LICT Corporation no later than March 11, 2024, for the charitable contribution to be made.

What type of organizations are eligible to receive the donation from LICT Corporation on the shareholder's behalf?

Only recognized 501(c)(3) organizations are eligible to receive the donation from LICT Corporation on the shareholder's behalf.

What is the potential total contribution if all shares outstanding are registered in shareholders' names at the record date?

The total contribution could be approximately $1.7 million if all shares outstanding are registered in shareholders' names at the record date.