Rye, New York- July 13, 2016 – LICT Corporation (“the Company”, OTC Pink: LICT) announced today it has extended by one week, from July 15 to July 22, 2016, the period within which its shareholders may register shares in their own name in order to participate in the Company’s previously-announced Shareholder Designated Charitable Contribution Program. On June 2, 2016, the Company announced the adoption of its Shareholder Designated 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. As in the case other similar programs, only registered shareholders will be eligible to participate.
Thus, 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. Under the extension announced today, shareholders will now have until July 22, 2016 to register shares in their own name so that those shares are eligible to participate in the program.
Our current plan is to distribute later this month a charitable contribution designation form to each person or entity which is a registered shareholder as of the new July 22, 2016 record date. That form must be returned to LICT no later than August 15, 2016, in order for the charitable contribution to be made. Only charities that are recognized 501 (c) (3) organizations under the Internal Revenue Code will be qualified to receive the donation from LICT on the shareholder’s behalf. A list of eligible charities is available at: http://www.irs.gov/Charities-&-Non-Profits/Exempt-Organizations-Select-Check
If all the Company’s shares outstanding are registered in the shareholders’ names at July 22, 2016, the total contribution would be approximately $2.2 million.
If you have any questions or comments regarding the Shareholder Designated Contribution Program, please contact us through e-mail at shareholdergiving@lictcorp.com or by phone at (914) 921-8821.
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This release contains 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 originally expected. 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.
LICT is a holding company with subsidiaries in telecommunications and multimedia, and actively seeks acquisitions, principally in its existing business areas.
LICT is listed on OTC Pink ® under the symbol “LICT”. Its web address is set forth above.
Contact: Robert E. Dolan
Executive Vice President and Chief Financial Officer
(914) 921-8821
Release: 16-5