1. LICT authorized repurchase of an additional 500 shares of common stock. 2. Total shares authorized for repurchase now totals 621 shares. 3. Repurchases will depend on market conditions and are not obligated. 4. Program may be suspended or modified at any time. 5. Forward-looking statements involve uncertainties and risks for LICT.
Share buybacks generally indicate confidence in the company's future performance, which can lead to increased stock value. Historically, companies like Apple and buybacks have resulted in positive market responses.
The authorization of a share repurchase reflects company confidence which can positively influence investor sentiment and stock price. Increased share repurchase can also signal strength that may attract further investment in LICT.
The immediate market reaction to buybacks usually occurs quickly, influencing prices within weeks. Investors may react positively to this news in the short run.
LICT Corporation ("LICT" or the "Company") today announces that its Board of Directors has authorized the re-purchase by the Company of an additional 500 shares of its common stock. Under the prior repurchase authorization, there were 121 shares remaining at the time of this new 500-share authorization, making a total of 621 shares currently authorized to be repurchased by the Company.
Share repurchases may be made from time to time in the open market through privately negotiated transactions, or other means, in accordance with applicable securities laws. The timing and amount of repurchases will depend on market conditions, share price, and other factors. The program does not obligate the Company to repurchase any specific number of shares, and it may be suspended, modified, or terminated at any time.
This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, including without limitation anticipated financial results, financing, capital expenditures and corporate transactions. It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation business conditions, financial markets and the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com. As a result, there can be no assurance that any possible transactions will be successful or that financial or other targets will be met. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.
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Joe Cecin
Chief Operating Officer
Stephen J. Moore
Vice President-Finance
914-921-8821
www.lictcorp.com