NOTICE IS HEREBY GIVEN to the holders of common stock, par value $0.01 per share (the “Common Stock”), of LICT Corporation (the “Corporation”), a Delaware corporation, that due to the development of events regarding the coronavirus pandemic, the Corporation will hold this year’s annual meeting of stockholders (the “Annual Meeting”) virtually, by electronic means. The virtual Annual Meeting will be held on June 8, 2022 beginning at 8:45 am Eastern Time. You may access the virtual Annual Meeting by using your 16-digit control number, which is printed on the Proxy Card accompanying this Notice and Proxy Statement and visiting www.virtualshareholdermeeting.com/LICT2022. You will be able to listen to the meeting live, submit questions and vote online if you wish.
The Annual Meeting will be held for the following purposes:
- To elect six (6) members to our Board of Directors to serve until the next Annual Meeting or until their successors are duly elected and qualify;
- To ratify the appointment of BDO USA, LLP as the Corporation’s independent auditor for the year ending December 31, 2022; and
- To transact such other business as may properly come before the Annual Meeting or any adjournments thereof.
Information relating to the above matters is set forth in the enclosed Proxy Statement. The Board of Directors and management of the Corporation are not aware of any other matters that will come before the Annual Meeting. As determined by the Board of Directors, only stockholders of record at the close of business on April 22, 2022, are entitled to receive notice of, and to vote at, the Annual Meeting and any adjournments thereof.
The Board of Directors encourages all stockholders to attend the virtual Annual Meeting. Your vote is very important regardless of the number of shares you own. Whether or not you expect to attend the Annual Meeting, you are requested to promptly date, complete, sign and return the enclosed Proxy Card in the enclosed postage-paid envelope in order that your shares of our Common Stock may be represented. Your cooperation is greatly appreciated.
By Order of the Board of Directors,
Stephen J. Moore
Vice President – Finance
LICT achieves another quarter of solid revenue growth, stable EBITDA, and strong cash from operations; balance sheet strengthens as net cash grows
- Revenues increased 10% to $31.2 million from $28.4 million.
- EBITDA grew to $14.7 million from $13.4 million.
- EPS rose 25% to $344 per share from $275 per share.
- Revenues climbed 3.8% to a record $118.4 million from $114.1 million.
- EBITDA was $53.4 million versus $53.3 million.
- EPS rose to $1,353 per share from $1,256 per share.
Rye, NY – February 24, 2020 – LICT Corporation (“LICT” or the “Company”; OTC Pink®: LICT) reports preliminary, unaudited, financial results for the year ended December 31, 2019.Continue reading LICT CORPORATION REPORTS PRELIMINARY FOURTH QUARTER AND FULL YEAR 2019 RESULTS
Rye, New York – January 28, 2020 – LICT Corporation (“LICT” or the “Company”; OTC Pink ®: LICT) has closed on a 5 year, $50 million, unsecured Revolving Credit Facility with CoBank. In addition to extending the term of the Revolving Credit Facility through 2025, the new loan facility provides lower pricing, an improved covenant structure, and greater flexibility to make charitable contributions, acquisitions as well as Shareholder Compensation.Continue reading LICT CORPORATION CLOSES ON A NEW $50 MILLION DOLLAR REVOLVING CREDIT FACILITY PROVIDED BY COBANK
Rye, New York – January 3, 2020 – LICT Corporation (“LICT” or the “Company”; OTC Pink ®: LICT) has closed the sale of its minority interest in the Modoc RSA Limited Partnership (“Modoc”) to Verizon Wireless. LICT had announced the signing of a definitive agreement for this transaction on November 26, 2019.
Modoc is a partnership controlled by Verizon Wireless which provides service in a rural area of northern California. A subsidiary of LICT had acquired this interest in Modoc in 1988. The transaction was not subject to any regulatory approvals.
Dan Hopkins, President and Chief Financial Officer of LICT, said “The sale of LICT’s interest will further strengthen LICT’S financial condition and flexibility. This transaction concludes a very successful partnership with Verizon Wireless. Verizon has been a good partner and has provided excellent management of this property and we wish it continued success.”
Reno, Nevada/Rye, New York, December 16, 2019 – LICT Corporation (“LICT”; OTC Pink ®: LICT) and CIBL, Inc. (“CIBL”; OTC Pink ®: CIBY) are announcing that the New Hampshire Public Utilities Commission (“NHPUC”) today approved the merger of LICT’s subsidiary which owns the Bretton Woods Telephone Company (“BWTC”) with a subsidiary of CIBL. The NHPUC’s approval of the merger is effective as of December 31, 2019.Continue reading CIBL AND LICT TRANSACTION RECEIVES FINAL APPROVAL AND A YEAR END CLOSING IS SCHEDULED
Rye, NY – November 26, 2019 – LICT Corporation (“LICT” or the “Company”; OTC Pink®: LICT) is announcing the signing of a definitive agreement to sell its minority interest in the MODOC RSA Limited Partnership (“Modoc”), to Verizon Wireless. Modoc is a partnership which is controlled by Verizon and provides wireless service in a rural area of northern California.Continue reading LICT CORPORATION ANNOUNCES SALE OF ITS INTEREST IN MODOC RSA LIMITED PARTNERSHIP TO VERIZON
- Revenues were $28.4 million, a reduction of 12% from $32.3 million.
- EBITDA was $13.0 million, a $4.7 million decline from $17.7 million.
- Earnings per share were $263 per share compared to $391 per share in 2018.
- Charitable Contribution Program continues in the Fourth Quarter of 2019.
Rye, NY – November 20, 2019 – LICT Corporation (“LICT” or the “Company”; OTC Pink®: LICT) reports financial results for the quarter ending September 30, 2019.
SHAREHOLDER DESIGNATED CHARITABLE CONTRIBUTION PROGRAM — In 2016, the Company adopted a Shareholder Designated Charitable Contribution Program. Under the Program, all registered shareholders are eligible to designate charities and the company will make a contribution to that charity. In 2016, 2017 and 2018, the company made $100 per share contributions on behalf of its shareholders to their designated charities. The LICT Board of Directors approved the 1st quarter 2019 contribution, also at $100 per share, in December 2018, and the contributions were distributed to the charities in the 1st quarter of 2019. In addition, the board approved an additional contribution in the 3rdquarter of 2019 and the distribution will be made in the 4th quarter of 2019.Continue reading LICT CORPORATION REPORTS THIRD QUARTER RESULTS
Rye, New York- October 1, 2019 – LICT Corporation (OTC Pink: LICT) As previously announced, LICT is continuing its Shareholder Charitable Contribution Program, adopted in 2016, for all registered shareholders during the fourth quarter of 2019. 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.Continue reading LICT SHAREHOLDER DESIGNATED CHARITABLE CONTRIBUTION PROGRAM
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.Continue reading LICT CORPORATION CONTINUES SHAREHOLDER DESIGNATED CHARITABLE CONTRIBUTION PROGRAM