CLST Holdings, Inc. Cancels its Scheduled Annual Meeting of Stockholders
December 09 2009 - 8:54PM
PR Newswire (US)
DALLAS, Dec. 9 /PRNewswire-FirstCall/ -- CLST Holdings, Inc.
("CLST") (Pink Sheets: CLHI) announced today that it has cancelled
its Annual Meeting of Stockholders scheduled for December 15, 2009.
On November 12, 2009, CLST and Red Oak Partners, LLC, Red Oak Fund,
LP and Jeffrey S. Jones entered into a Second Stipulation and Order
Setting and Regarding an Annual Meeting of Stockholders for CLST
Holdings, Inc. (the "Stipulation") providing, among other things
for CLST to hold an Annual Meeting of Stockholders on December 15,
2009. The Stipulation also provided that CLST would deliver to Red
Oak a Notice of Annual Meeting which Red Oak would be entitled to
distribute to CLST's stockholders if CLST did not distribute that
Notice of Annual Meeting on or before December 2, 2009. CLST did
not distribute the Notice of Annual Meeting to its stockholders on
or before December 2, 2009. On December 8, 2009, CLST was informed
by counsel to Red Oak that Red Oak had distributed the Notice of
Annual Meeting, but that the distribution was defective. Red Oak's
counsel also informed CLST's counsel that the Annual Meeting of
Stockholders could not take place on December 15, 2009 because of
the defective delivery of the Notice of Annual Meeting. FOR MORE
INFORMATION: The foregoing is not a solicitation of any proxy and
shall not constitute an offer to sell or a solicitation of an offer
to buy the securities of CLST. For more information regarding CLST,
please refer to CLST's revised preliminary proxy statement in
connection with its 2009 Annual Meeting, which was filed with the
SEC on October 19, 2009 and is available free of charge at the
SEC's Web site at http://www.sec.gov/. CLST plans to file with the
SEC and mail to its stockholders a definitive proxy statement in
connection with its next Annual Meeting. Investors and security
holders are urged to read the revised preliminary proxy statement,
the definitive proxy statement relating to the 2009 Annual Meeting
and any other relevant documents filed with the SEC when they
become available, because they will contain important information.
Investors and security holders may obtain a free copy of the
definitive proxy statement and other documents (when available)
that CLST files with the SEC at the SEC's Web site at
http://www.sec.gov/. In addition, the definitive proxy statements
and other documents filed by CLST with the SEC may be obtained from
CLST free of charge by directing a request to CLST's proxy
solicitation firm at Morrow & Co., 470 West Stamford, CT 06902.
CLST, its directors, executive officers and other members of
management specified in Annex B to CLST's revised preliminary proxy
statement for the 2009 Annual Meeting are participants in the
solicitation of CLST's security holders in connection with its 2009
Annual Meeting. Stockholders may obtain information regarding the
names, affiliations and interests of such individuals in CLST's
revised preliminary proxy statement and definitive proxy statement,
when it comes available. Stockholders may obtain information
regarding the directors and officers in CLST's Annual Report on
Form 10-K for the year ended November 30, 2008, which was filed
with the SEC on March 2, 2009 and amended on November 5, 2009. This
news release may contain forward-looking statements, as defined in
the Private Securities Litigation Reform Act of 1995. DATASOURCE:
CLST Holdings, Inc. CONTACT: Robert Kaiser, +1-972-267-0500, for
CLST Holdings, Inc.
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