Rye, New York- July 29, 2016 – LICT Corporation (“the Company”, OTC Pink: LICT) announced today as of July 22, 2016 it had 10,018 registered shares that were eligible to participate in its 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 (and only registered shareholders) will be eligible to designate a charity to which the company will make a donation of $100 per share on behalf of the shareholder. Accordingly, if all of the eligible 10,018 shares owned by our registered shareholders participate in the program, LICT’s charitable contribution would total $1.0 million. After tax effects, this donation would decrease the Company’s earnings per share by $31 in the third quarter of 2016 and would reduce its previously announced earnings per share estimate for 2016 from $336 to $305.
The Company has distributed the charitable contribution designation form to each person or entity that is a registered shareholder. 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.
If you have any questions or comments regarding the Shareholder Designated Contribution Program, please contact us through e-mail at email@example.com at or by phone at (914) 921-8821.