LICT Corporation OTC Pink: LICT) has announced its board of directors has increased the company´s share repurchase authorization, the company said.
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.
LICT is a holding company with subsidiaries in telecommunications and multimedia, and actively seeks acquisitions, principally in its existing business areas.