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Olshan Represents CIBL, Inc. in Acquisition of Controlling Position in iCTC Group

November 21, 2012

Olshan’s client CIBL, Inc. has purchased 80,000 shares of Class A common stock of iCTC Group, Inc. in a private placement and commenced a third-party tender offer to purchase up to 80,000 additional shares of Class A common stock of iCTC Group.  If the tender offer is fully subscribed, CIBL will acquire approximately 40% of the outstanding Class A common stock of iCTC Group.   CIBL intends to acquire greater than 50% of the voting control of iCTC Group through a voting trust agreement with certain affiliated stockholders of iCTC Group.  The Olshan team representing CIBL includes Steve Wolosky, Elizabeth R. Gonzalez and Kenneth S. Mantel.

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