Press – Page 12 – LICT Corporation

LICT Increases Stock Re-purchase Program

Rye, New York – June 4, 2014 – LICT Corporation (“LICT” or the “Company”) today announces that its Board of Directors has authorized the re-purchase by the Company of an additional 1,000 shares of its common stock. The previous re-purchase authorizations by the Board of Directors, totaling 4,000 shares, had been exhausted. As with the prior re-purchase authorizations, the Company is adopting this increase because it believes that its stock buy-back program serves the interests of both shareholders and the Company itself. LICT expects to make re-purchases pursuant to this new authorization in the open market such times, prices and in amounts which it determines to be appropriate.

LICT Corporation Reports First Quarter 2014 Results

Rye, NY – May 23, 2014 – LICT Corporation (“LICT”; Pink Sheets®: LICT) announces its results for the first quarter of 2014.

FIRST QUARTER RESULTS –Revenues increased by $1.5 million, or 6.4% to $25.0 million compared to the corresponding quarter in 2013. EBITDA before corporate costs was $10.5 million versus $9.1 million, an increase of $1.4 million, or 15.4%, compared to 2013.

LICT Corporation Partners With Maytum Family As It Repurchases DFT Communications Corporation

Rye, NY – May 20, 2014 – LICT Corporation (“LICT”; Pink Sheets ®: LICT) today announced that it has reached a definitive agreement to sell a controlling interest in DFT Communications Corporation (“DFT”), which is headquartered in Fredonia, New York. The purchasers are three members of DFT’s management team, Robert A. Maytum, Mark Maytum and Kurt Maytum, as well as Maytum family member Sheri Stoltenberg, and a newly-formed corporation they control, Brick Skirt Holdings, Inc. (“Brick Skirt”).

LICT Reports Fourth Quarter Earnings

Rye, NY – May 15, 2014 – LICT Corporation (“LICT”; Pink Sheets®: LICT) today announced its 2013 fourth quarter and full year earnings. See attachment A.

LICT Arranges New Line of Credit

Rye, New York – May 7, 2014 – LICT Corporation (“LICT”) has obtained a $25 million Line of Credit from a private investment firm. This Line of Credit replaces the Company’s previous $17.5 million Line of Credit with Webster Bank which was to expire on June 30, 2014. With the new financing which expires on June 30, 2015, LICT now has increased financial flexibility to make acquisitions, fund capital investments, and repurchase shares.

LICT Announces Return Of Upfront Payment For FCC Spectrum Auction 96

Rye, NY – March 11, 2014 — LICT Corporation (Pink Sheets: LICT) (“LICT”) is announcing today that Lynch 3G Communications Corporation (“Lynch 3G”), a wholly owned subsidiary of LICT which participated in the Federal Communications Commission’s spectrum Auction 96, was not the high bidder for any of the 176 licenses available. Auction 96 is now closed. Lynch 3G’s Upfront Payment of $11 million, which it deposited with the FCC in order to participate in Auction 96, has now been returned.

LICT Announces Termination of MBO Discussions

Rye, NY – March 10, 2014 — LICT Corporation (Pink Sheets: LICT) (“LICT” or the “Company”) is announcing today the negotiations to initiate a management buy-out of one of its operating units, that had been discussed in the Company’s press release on February 19, 2014, have now been terminated.

LICT Arranges New Line of Credit

LICT Announces Receipt Of Non-binding Acquisition Proposal

Rye, NY — February 19, 2014 — LICT Corporation (Pink Sheets: LICT) (“LICT” or the “Company”) announced today that it has received an unsolicited, preliminary non-binding proposal from an unaffiliated third party to acquire the Company. While the proposed purchase price represents a significant premium to LICT’s current trading price, LICT’s Board of Directors has determined that the proposed purchase price does not adequately reflect what we refer to as the private market value of LICT and has rejected the proposal. While LICT’s main focus is on growing the value of our businesses, the Board will carefully review any credible offer made to acquire the Company that delivers full value to LICT stockholders. At this time, there can be no assurance that any revised proposal will be made or that this or any other transaction will be approved or consummated. The Company is currently in negotiation to initiate a management buy-out of one of its operating units. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.

LICT Corporation Reports Third Quarter 2013 Results

Rye, NY – November 25, 2013 – LICT Corporation (“LICT”; Pink Sheets®: LICT) today announced its third quarter 2013 earnings. See attachment A.

THIRD QUARTER RESULTS –During the third quarter of 2013, our revenues were $24.2 million, essentially the same as the 2012 third quarter. EBITDA before corporate costs was $9.2 million versus $10.1 million, or down by $0.9 million as compared to 2012. This was due primarily to lower cash distributions from our equity affiliates of $426,000, from $679,000 to $253,000, and to lower earnings from operations.

Category: Press