The Board of Directors of LICT Corporation (OTC Pink: LICT) is privileged to announce its Shareholder Charitable Contribution Program for all registered shareholders. 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. If all shares are registered in the shareholders’ names at the record date, the total contribution would be approximately $1.7 million.
Since the program’s inception in 2016, LICT has made more than $10 million in contributions to 501(c)3 charities designated by registered shareholders.
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.
Shareholders’ shares need to be registered to be eligible to participate in this charitable program. Therefore, any shareholder who has shares that are currently held in street name and wish 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 November 15, 2024 to register shares in their own name to participate in the program. LICT will then distribute a charitable contribution form to all registered shareholders. Completed forms must be returned to LICT no later than December 31, 2024, 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: Guidestar.org
This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, including without limitation anticipated financial results, financing, capital expenditures and corporate transactions. It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation business conditions, financial markets and the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com. As a result, there can be no assurance that any possible transactions will be successful or that financial or other targets will be met. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.
LICT is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas. LICT is listed on the OTC Pink ® under the symbol LICT. For further information, please visit our website listed above.
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