LICT Corporation Shareholder Designated Charitable Contribution Program

Rhea-AI Summary

LICT Corporation (OTC Pink: LICT) is extending its Shareholder Charitable Contribution program, allowing registered shareholders to designate a charity for a $100 per share donation. Over the last four years, the company has contributed more than $5.5 million to various charities. Shareholders must register their shares by February 12, 2021, to participate. If all shares are registered, the total contribution could reach approximately $2.2 million. Donations will only be made to IRS-recognized 501(c)(3) organizations, with a list of eligible charities available on Guidestar.org.

Positive

• Shareholder Charitable Contribution program offers $100 per share, fostering community goodwill.
• LICT has made over $5.5 million in charitable contributions over the past four years.
• Potential total contribution of approximately $2.2 million if all shares are registered.

Negative

• Shares held in street name are ineligible for participation, limiting shareholder engagement.
• No guarantee of successful future transactions or financial targets as indicated in the forward-looking statements.

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.

Over the past 4 years, LICT has made more than $5.5 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 12, 2021 to register shares in their own name to participate in the program. Our current plan is to distribute, a charitable contribution form that must be returned to LICT no later than March 8, 2021, 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 $2.2 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/20210105005729/en/

FAQ

What is the Shareholder Charitable Contribution program by LICT?

The program allows registered shareholders to designate a charity for a $100 donation per share.

How much has LICT contributed to charities in the past?

LICT has made over $5.5 million in charitable contributions over the past four years.

What is the deadline for LICT shareholders to participate in the charity program?

Shareholders must register their shares by February 12, 2021, to participate.

How much total contribution could LICT make if all shares are registered?

If all shares are registered, the total contribution could reach approximately $2.2 million.

What types of charities can LICT donate to on behalf of shareholders?

LICT can only donate to IRS-recognized 501(c)(3) organizations.