Rye, NY – October 16, 2017 – LICT Corporation (“LICT”; OTC Pink®: LICT) reports results for the third quarter ended September 30, 2017.Continue reading LICT Corporation Reports Third Quarter 2017 Results
Rye, NY, October 10, 2017 – LICT Corporation (“LICT”) is announcing that PTPMS Communications, LLC (“PTPMS”), a company in which LICT holds a 49% interest, filed a legal action on October 5, 2017 against Straight Path Communications, Inc. (“Straight Path”).Continue reading LICT ANNOUNCES FILING OF LEGAL ACTION BY PTPMS COMMUNICATIONS, LLC. AGAINST STRAIGHT PATH COMMUNICATIONS, INC. TO OBTAIN AMOUNT OWED FOR WIRELESS LICENSES
Rye, NY – September 19, 2017, LICT Corporation (“LICT” or the “Corporation”; OTC Pink®: LICT) LICT recently has received questions relating to its interest in PTPMS Communications, LLC (“PTPMS”). By way of background, a subsidiary of LICT has a 49% limited liability company interest in PTPMS, which acquired 22 spectrum licenses at auction from the Federal Communications Commission (“FCC”). In 2012, PTPMS sold all of its licenses to the predecessor-in-interest of a subsidiary of Straight Path Communications, Inc. (“Straight Path”). In that transaction, PTPMS retained an interest of 20% in the net proceeds of any subsequent transaction of those licenses. In May 2017, Straight Path announced that it had entered into a transaction to sell itself to Verizon for a total of $3.1 billion in Verizon stock. Straight Path has filed an application with the FCC for approval of the transaction.Continue reading UPDATE ON LICT’S INVESTMENT WITH PTPMS COMMUNICATIONS, INC.
Rye, NY – July 19, 2017 – LICT Corporation (“LICT”; OTC Pink®: LICT) reports results for the second quarter ended June 30, 2017.Continue reading LICT CORPORATION REPORTS SECOND QUARTER 2017 RESULTS
Rye, New York- June 21, 2017 – LICT Corporation (OTC Pink: LICT) announced today it is continuing for 2017 the Shareholder Charitable Contribution Program for all registered shareholders which it originally adopted in 2016. 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.Continue reading LICT CONTINUES SHAREHOLDER DESIGNATED CHARITABLE CONTRIBUTION PROGRAM FOR 2017
Following-up on our first notice of June 21. 2017, this is a reminder, that LICT Corporation will continue its Shareholder Designated Charity Program and that the latest date for participating shareholders to have their shares registered in their own name, in order to participate in the program, is July 21, 2017.
Please see the June 21, 2017 Press Release below:
“Rye, New York- June 21, 2017 – LICT Corporation (OTC Pink: LICT) announced today it is continuing for 2017 the Shareholder Charitable Contribution Program for all registered shareholders which it originally adopted in 2016. 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. has had a similar program.
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 case of both Berkshire and GAMCO, only registered shareholders will be eligible to participate.
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 July 21, 2017 to register shares in their own name to participate in the program. Our current plan is to distribute, in early July, a charitable contribution form that must be returned to LICT no later than August 11, 2017, 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 www.irs.gov/Charities-&-Non-Profits/ExemptOrganizations-Select-Check; or Guidestar.org.
Please see the attached list of Frequently Asked Questions for further details on the charitable contribution program. If you have additional questions, please use the contact number provided below.
If all shares are registered in the shareholders’ names at the record date, the total contribution would be approximately $2.1 million.”Download PDF Version Here
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
Rye, New York – June 1, 2017 – LICT Corporation (“LICT” or the “Company”, OTC Pink ®: LICT) is today announcing that its Board of Directors (the “Board”) has increased the Company’s share repurchase authorization. Prior to this increase, there had been 332 shares remaining for repurchase under the Board’s prior authorizations. The Board has now increased that amount to a total of 900 shares currently authorized for repurchase by LICT. LICT continues to view its buy-back program as an effective means of providing shareholder compensation, enhancing the liquidity of the Company’s stock and efficiently deploying the Company’s capital. The increase in the authorized repurchase amount will serve each of these purposes. LICT intends to buy its shares from time to time in the marketplace as it deems appropriate.Continue reading LICT CORPORATION INCREASES SHARE REPURCHASE PROGRAM AND EXPANDS CONSIDERATION OF FINANCING ALTERNATIVES
Rye, NY – May 9, 2017 – LICT Corporation (“LICT”; Pink Sheets ®: LICT ) LICT Corporation (“LICT”) notes that Straight Path Communications Inc. (“Straight Path”) has issued a press release relating to the previously announced bid by AT&T to acquire Straight Path. Straight Path announced that its Board of Directors has determined that a “Superior Proposal” to the AT&T bid has been received by Straight Path in the form of a revised offer from a multi-national telecommunications company to acquire 100% of Straight Path’s shares outstanding for $184.00 per share, to be paid in the bidder’s stock. The press release also noted that this bidder’s offer price implied an intrinsic value for Straight Path of $3.1 billion, and that AT&T has the option for the next three business days to negotiate a price that will match or exceed the bidder’s price.Continue reading LICT ANTICIPATES LIQUIDITY EVENT OF INVESTMENT