RYE, N.Y.–(BUSINESS WIRE)–The Board of Directors of LICT Corporation (OTC Pink: LICT) is privileged to announce that it will continue its Shareholder Charitable Contribution Program for all registered shareholders. All registered shareholders will be eligible to designate charities to which the company will make a donation of $100 per share on behalf of the shareholder.
Warren Buffett had a similar program at Berkshire Hathaway from 1981 to 2003. In addition, GAMCO Investors, Inc., and Associated Capital Group, Inc. have had similar programs.
At LICT, we continue to 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.
As in the cases of Buffett’s Berkshire, GAMCO, and Associated Capital, only registered shareholders will be eligible to participate.
The timing of the program is expected to be between the middle of November 2024 and January 2025. More specific details will follow.
If all shares are registered in the shareholders’ names at the record date, the total contribution would be approximately $1.7 million.
Since the program’s inception in 2016, LICT has made more than $10 million in contributions to charities designated by registered shareholders.
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.
Contacts
Stephen J. Moore
VP- Finance
914-921-8821
www.lictcorp.com
