Durham Demands Director Compensation Records
July 20 2007 - 3:29PM
PR Newswire (US)
INDIANAPOLIS, July 20 /PRNewswire/ -- Timothy S. Durham, a
significant stockholder of CLST Holdings, Inc., formerly known as
CellStar Corporation, (the "Company") (Pink Sheets: CLHI) made
demand today upon the Company to inspect the Company's records
relating to the Company's agreement to pay Dale Kesler $300.00 per
hour for his services as Chairman of the Board. Mr. Durham made his
demand for the purpose of determining whether or not payments to
Mr. Kesler represent corporate waste. Mr. Durham and the Company
have proposed competing slates of nominees for election at the
Company's upcoming Annual Meeting of Stockholders. Mr. Durham
believes that his nominees, Timothy S. Durham, Manoj Rajegowda and
Robert A. Kaiser will be able, if elected, to reduce the Company's
operating expenses to increase amounts that will be paid to
stockholders as the Company is liquidated. Among other expenses Mr.
Durham's nominees will review and reduce are amounts paid to
Directors as fees. SECURITY HOLDERS ARE ADVISED TO READ THE
DEFINITIVE PROXY STATEMENT AND OTHER DOCUMENTS RELATED TO MR.
DURHAM'S AND THE COMPANY'S SOLICITATION OF PROXIES FROM THE
STOCKHOLDERS FOR USE AT THE UPCOMING ANNUAL MEETING OF STOCKHOLDERS
BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING INFORMATION
RELATING TO THE PARTICIPANTS IN MR. DURHAM'S AND THE COMPANY'S
PROXY SOLICITATIONS. DEFINITIVE PROXY STATEMENTS AND FORMS OF PROXY
ARE AVAILABLE TO STOCKHOLDERS OF CLST HOLDINGS, INC. AT NO CHARGE
AT THE SECURITIES AND EXCHANGE COMMISSION'S WEBSITE AT
http://www.sec.gov/ For Information, Contact: Timothy Durham,
+1-317-237-4055, DATASOURCE: Timothy S. Durham CONTACT: Timothy
Durham, +1-317-237-4055,
Copyright