NOME, N.D.--(BUSINESS WIRE)--ICTC Group, Inc. (“ICTC”; OTC Pink ®: ICTG) today announced that it has received a non-binding proposal from an unaffiliated entity, also located in North Dakota, to acquire all the shares of ICTC. The current proposal represents a substantial premium to ICTC’s recent trading price.
The ICTC Board of Directors will carefully evaluate this and any other proposals, along with other potential strategic initiatives. The Board will reach a determination as to whether the proposed price adequately reflects the full value of ICTC and whether the acceptance of the current proposal or a revised proposal would be in the best interests of our shareholders.
ICTC remains focused on growing the value of our businesses by increasing the capabilities and services provided to our loyal customers.
There can be no assurance that the current proposal will result in a definitive agreement or other transaction. The Company does not undertake any obligation to provide any updates to this or any other potential transaction, except as required by applicable law.
This release contains certain 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, including without limitation anticipated corporate transactions. It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation business conditions and financial markets, regulatory and other approvals, and the cautionary statements set forth in documents filed by ICTC on its website, www.ictcgroup.net. As a result, there can be no assurance that any possible transactions will be accomplished or be successful or that financial targets will be met, and such information is subject to uncertainties, risks and inaccuracies that could be material.
ICTC is a holding company with subsidiaries in voice, broadband and other telecommunications services that may seek acquisitions, principally in its existing business areas.
ICTC is listed on OTC Pink ® under the symbol ICTG. Its website address is http://www.ictcgroup.net.