Investment Funds to Vote for Durham Slate
July 25 2007 - 4:34PM
PR Newswire (US)
INDIANAPOLIS, July 25 /PRNewswire-FirstCall/ -- Timothy S. Durham
announced today that a Dallas based investment manager has informed
him that it has voted approximately 721,000 shares of the common
stock of CLST Holdings, Inc., formerly known as CellStar
Corporation, (the "Company") (OTC Pink Sheets: CLHI) held by
investment funds that it manages for the slate of directors
nominated by Mr. Durham for election at the Company's upcoming
annual meeting of stockholders. Mr. Durham's slate consists of
Timothy S. Durham, Manoj Rejegowda and Robert A. Kaiser. Mr. Durham
is an Indianapolis investor committed to maximizing the return to
CLHI's stockholders by completing the Company's liquidation plan
efficiently and expeditiously. His slate of nominees are all
investors or investment managers with significant investments in
the Company. 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. Mr. Durham's
nominees are committed to reducing the Company's operating expenses
and increasing liquidating dividends to the Company's stockholders,
and believe that they are more qualified to do so than the slate
proposed by the Company. In particular, Mr. Durham believes that
one of his nominees, Robert Kaiser, the Company's former Chief
Executive Officer, is uniquely qualified to guide the Company
through the process of winding up its operations and resolving any
potential indemnity or escrow claims from buyers of the Company's
businesses in a manner most favorable to the Company. Mr. Durham
believes that the Company's nominees have little experience with
the Company's former operations when compared to Mr. Kaiser.
Stockholders who need assistance with voting their shares may call
Morrow & Co. at +1-203-679-9400 and ask for Tom Skulski.
DATASOURCE: Timothy S. Durham CONTACT: Timothy Durham,
+1-317-237-4055,
Copyright