Moorehead Communications Supports Durham Slate
July 24 2007 - 12:42PM
PR Newswire (US)
INDIANAPOLIS, July 24 /PRNewswire/ -- Timothy S. Durham announced
today that Moorehead Communications and its affiliates Steve
Moorehead, Scott Moorehead, Kevin Wendall and Highland Realty have
indicated that they will support Mr. Durham's nominees for election
to the board of directors of CLST Holdings, Inc., formerly known as
CellStar Corporation, (the "Company") (OTC:CLHI) at its upcoming
annual meeting. Collectively, Moorehead Communications and its
affiliates hold in excess of 751,000 shares of the Company's
shares, all of which will be voted for Timothy S. Durham, Manoj
Rejegowda and Robert Kaiser. Mr. Durham and the Company have
proposed competing slates of nominees. Whoever is elected at the
annual meeting of stockholders on July 31, 2007 will oversee the
liquidation and dissolution of the Company's assets and business.
Scott Moorehead told Mr. Durham that he believes the Durham
nominees will do a better job of reducing the Company's operating
expenses and increasing liquidating dividends to the Company's
stockholders than the slate proposed by the Company. Among other
things, Mr. Moorehead noted to Mr. Durham that the Company's
nominees have little experience with the Company's operations,
while Durham's nominee Robert Kaiser is the Company's former Chief
Executive Officer. 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/ DATASOURCE: Timothy S. Durham CONTACT: Timothy
Durham, +1-317-237-4055,
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