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Dixon Telephone Company Shareholders Approve Acquisition By LICT Subsidiary Central Scott Telephone Company
Dixon Telephone Company Shareholders Approve Acquisition By LICT Subsidiary Central Scott Telephone Company.
About this update from Lict Corp.
[{"type":"text","content":"\n\n\n\nDixon Telephone Company Shareholders Approve Acquisition By LICT Subsidiary Central Scott Telephone Company\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nDixon Telephone Company Shareholders Approve Acquisition By LICT Subsidiary Central Scott Telephone Company\nPR Newswire\nRYE, N.Y., Sept. 1, 2015\n\n\n\nRYE, N.Y., Sept. 1, 2015 /PRNewswire/ -- LICT Corporation (\"LICT\"; OTC Pink®: LICT) is reporting that the shareholders of Dixon Telephone Company (\"Dixon\") yesterday approved the acquisition of Dixon by Central Scott Telephone Company (\"Central Scott\"), a wholly-owned subsidiary of LICT.  The acquiring company is a single-member limited liability company, Dixon Acquisition, LLC, owned by Central Scott.\n\nThe definitive agreement for this acquisition was signed on July 21, 2015.  The transaction is subject to regulatory approvals by the Iowa Utilities Board and the Federal Communications Commission.  All of the required regulatory filings have been made.  It is currently anticipated that the approvals will be received during September and that the transaction will close by September 30, 2015 or shortly thereafter.\n\nHoward Hunt, CEO of Dixon, said, \"We believe that Dixon's customers will be very well served by this sale.  Central Scott is our neighboring phone company and is well-acquainted with our system, territory and customers.  And as part of the transaction, Central Scott has committed to upgrade the Dixon facilities to provide much faster internet access speeds for our customers.\"\n\nDonn Wilmott, General Manager and CEO of Central Scott, said, \"We are delighted to begin serving Dixon's customers and expanding our traditional service territory.  We look forward to continuing the excellent service these customers have received from Dixon, and to offering enhanced internet capabilities as well.\"\n\nThe Dixon shareholder vote was almost unanimously in favor of the sale.  Financial terms of the transaction are not being made public at this time.  The parties expect to close the transaction as soo...