CLST Holdings, Inc. Declares Second Cash Distribution
October 16 2007 - 4:39PM
PR Newswire (US)
DALLAS, Oct. 16 /PRNewswire-FirstCall/ -- The Board of Directors of
CLST Holdings, Inc. (Pink Sheets: CLHI) has declared a cash
distribution of $0.60 per share on common stock to stockholders of
record October 26, 2007. The distribution will be paid no later
than November 1, 2007. On October 4, 2007, the Company received
$7.6 million of the amounts held in the escrow account including
accrued interest. Although the remaining withheld $1.4 million is
being disputed by CLST Holdings, Inc. and the ultimate outcome is
unknown at this time, the receipt of the $7.6 million is ahead of
the original plan and is a primary reason for the current
distribution at this time. On October 10, 2007, the Company filed
its Form 10-Q pursuant to Section 13 or 15(d) of the Securities and
Exchange Commission Act of 1934. The included balance sheet as of
August 31, 2007 reflected cash and cash equivalents of $17,073,000,
total assets of $36,145,000 and total liabilities of $16,150,000.
The declared dividend will amount to approximately $12,400,000
which will be paid from available company cash. The Company is
pleased to declare this cash distribution earlier than previously
anticipated. There may be additional distributions in the future
however, there can be no assurance of the timing and amount, if
any, of any such distributions. This news release contains
forward-looking statements, as defined in the Private Securities
Litigation Reform Act of 1995. DATASOURCE: CLST Holdings, Inc.
CONTACT: Robert A. Kaiser of CLST Holdings, Inc., +1-972-361-8428,
Web site: http://www.clstholdings.com/
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