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LICT Announces Receipt Of Preliminary, Non-Binding Acquisition Proposal
LICT Announces Receipt Of Preliminary, Non-Binding Acquisition Proposal.
About this update from Lict Corp.
[{"type":"text","content":"\n\n\n\nLICT Announces Receipt Of Preliminary, Non-Binding Acquisition Proposal\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\nLICT Announces Receipt Of Preliminary, Non-Binding Acquisition Proposal\nPR Newswire\nRYE, N.Y., Aug. 28, 2014\n\n\n\nRYE, 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.\n\nAs 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.     \n\nIf 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.\n\nThis 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 corre...