RYE, N.Y., Aug. 28, 2014 /PRNewswire/ -- LICT Corporation
(OTC Pink®: LICT) ("LICT" or the "Company") announced today that it
has received an unsolicited, preliminary and non-binding proposal
from an unaffiliated third party to acquire the Company. As
with an earlier unsolicited proposal which LICT disclosed on
February 19, 2014, the current
proposal represents a significant premium to LICT's recent trading
price. In addition, the proposed price is closer to the prevailing
financial and marketplace dynamics in LICT's industry than the
previous proposal. However, the proposal is also subject to a
number of contingencies.
As we noted in disclosing the February acquisition proposal,
LICT's main focus continues to be on growing the value of our
businesses. The Company's Board of Directors will nonetheless
carefully analyze and assess any proposals. On that basis, the
Board will reach a final determination as to whether the proposed
price adequately reflects the private market value of LICT and
would deliver full value to our
stockholders.
If the Board concludes that the current proposal is "too
tentative", there can be no assurance that any revised proposal
would be made or that, if made, a revised proposal would be
adequate. The Company does not undertake any obligation to
provide any updates with respect to this or any other potential
transaction, except as required under applicable law.
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 potential transactions which may not occur and
assumptions, projections and forecasts which may not prove to be
correct or may develop differently from the manner or form
originally anticipated. Such forward-looking information must be
read and interpreted in light of its uncertain nature and the
cautionary statements set forth in documents filed by LICT on its
website, www.lictcorp.com.
LICT Corporation is a holding company with subsidiaries in
telecommunications and multimedia, and actively seeks acquisitions,
principally in its existing business areas.
LICT Corporation is listed on the Pink Sheets® under
the symbol LICT. Its World Wide Web address is:
http://www.lictcorp.com.
Release:
14-10
SOURCE LICT Corporation