Red Oak Fund LP Announces Intention to Commence Tender Offer for Shares of CLST Holdings, Inc.
February 04 2009 - 2:57PM
PR Newswire (US)
DALLAS, Feb. 4 /PRNewswire-FirstCall/ -- CLST Holdings, Inc.
("CLST") (Pink Sheets: CLHI) announced today that it has been
notified by Red Oak Fund, L.P., a fund managed by Red Oak Partners,
LLC that it intends to commence a tender offer for up to 70% of the
outstanding shares of common stock of CLST at a price of $0.25 per
share. The tender offer is under review and consideration by CLST's
board of directors. No later than 10 business days from the
commencement of Red Oak's tender offer, CLST will advise its
stockholders of (1) whether it recommends acceptance or rejection
of the tender offer; expresses no opinion and remains neutral
toward such tender offer; or is unable to take a position with
respect to such tender offer, and (2) the reasons of the position
its takes. CLST requests its stockholders to defer making a
determination whether to accept or reject such tender offer until
they have been advised of CLST's position. 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.,
+1-972-267-0500, Web Site: http://www.clstholdings.com/
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