RYE, N.Y.--(BUSINESS WIRE)--LICT Corporation (“LICT” or the “Company”, OTC Pink ®: LICT) is today announcing that its Board of Directors (the “Board”) has increased the Company’s share repurchase authorization. Prior to this increase, there had been 387 shares remaining for repurchase under the Board’s prior authorizations. The Board has now increased that amount to 1,450 shares currently authorized for repurchase by LICT. LICT continues its buyback program because it believes that the current market under values the long-term prospects of the company. LICT intends to buy its shares from time to time in the marketplace as it deems appropriate.
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 assumptions, projections and forecasts which may not prove to be correct or may develop differently from the manner originally expected. Such forward-looking information must be read and interpreted in light of the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com.
LICT is a holding company with subsidiaries in telecommunications and multimedia, and actively seeks acquisitions, principally in its existing business areas.
LICT is listed on OTC Pink ® under the symbol “LICT”. Its web address is set forth above.