Press – Page 12 – LICT Corporation

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

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 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.

LICT Corporation Reports Second Quarter 2013 Results

Rye, NY – August 9, 2013 – LICT Corporation (Pink Sheets®: LICT) today announced its second quarter 2013 earnings. See attachment A.

SECOND QUARTER RESULTS –During the second quarter of 2013, our revenues were $23.7 million as compared to $24.0 million in 2012, a decrease of $261,000. EBITDA before corporate costs was $9.1 million versus $10.0 million, or down by $0.9, as million compared to 2012 in part traceable to lower cash distributions from our equity affiliates of $344,000, and lower earnings from operations.

LICT Announces Expansion Of Stock Re-purchase Program

Rye, New York – June 13, 2013 – LICT Corporation (“LICT” or the “Company”) today announces that it is receiving authorization under its line of credit agreement to purchase an additional $1,000,000. of the Company’s stock. Webster Bank, N.A., which provides LICT’s $17.5 million line of credit, has advised the Company that it will modify the agreement to increase from $1 million to $2 million the amount which LICT may spend to re-purchase its stock in 2013. The Company had requested this increase because it has nearly exhausted the original $1 million authorization and believes that stock buy-backs serve the interests both of shareholders and of the Company itself. Modification of the agreement for this purpose is expected to be completed within the next week.

LICT Corporation Reports First Quarter 2013 Results

Rye, NY – May 20, 2013 – LICT Corporation (Pink Sheets®: LICT) today announced its first quarter 2013 earnings. See attachment A.

FIRST QUARTER RESULTS –During the first quarter of 2013, our revenues were $23.5 million as compared to $23.1 million in 2012, an increase of $0.3 million. EBITDA at $9.1 million was down by $0.6 million compared to 2012 due to the absence of $0.6 million in cash distributions from our equity affiliates in 2012.

LICT Corporation Announces Fourth Quarter of 2012 Earnings

Rye, NY – April 26, 2013 – LICT Corporation (Pink Sheets®: LICT) today announced its fourth quarter and full year 2012 earnings and preliminary results for the first quarter of 2013.

Increased Availability And Lower Interest Rate On Its Current Line Of Credit

Rye, NY — January 8, 2013 — LICT Corporation (Pink Sheets ©: LICT) is announcing that it has entered into a modification of its line of credit agreement with Webster Bank, N.A.

Category: Press