Rye, New York- July 31, 2019 – LICT Corporation (OTC Pink: LICT) is announcing that it will continue its Shareholder Charitable Contribution Program for all registered shareholders during the fourth quarter of 2019. As indicated, the program was adopted in 2016. All registered shareholders will be eligible to designate 501(c)3 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.
Information regarding the program will be presented in October 2019.
If all shares are registered in the shareholders’ names at the record date, the total contribution would be approximately $2.0 million.
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: Stephen J. Moore
Vice President- Finance