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.
SOURCE LICT Corporation