Rye, New York – February 16, 2012 – LICT Corporation (“LICT”) today closed the previously-announced sale of its eight 700MHz licenses, which cover Catron County, New Mexico; Chautauqua County, New York; Dubuque, Iowa; Elmira, New York; Gogebic County, Michigan; Grant County, New Mexico; Las Cruces, New Mexico; and San Juan County, New Mexico. The transaction will result in a net gain of $7.7 million to LICT, or approximately $325 per share, after transaction costs and income taxes.
This release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. It should be recognized that such information is based upon assumptions, projections and forecasts which may not prove to be correct or may develop differently from the manner or form originally anticipated. Such forward looking information must be read and interpreted in light of the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com. There can be no assurance that any forward-looking information will be accurate, and such information is subject to uncertainties, risks and inaccuracies, which could be material.
LICT Corporation is a holding company with subsidiaries in telecommunications and multimedia, and actively seeks acquisitions, principally in its existing business areas.
LICT Corporation is listed on the Pink Sheets® under the symbol LICT. Its World Wide Web address is: http://www.lictcorp.com.
Contact: Robert E. Dolan
Executive Vice President and Chief Financial Officer