DALLAS, March 29 /PRNewswire-FirstCall/ -- CLST
Holdings, Inc. (Pink Sheets: CLHI) announced today that on
March 26, 2010, it filed a
Certificate of Dissolution with the Delaware Secretary of State, to be effective
as of June 24, 2010, in accordance
with its previously announced plan of dissolution and consistent
with the Stipulation and Agreed Temporary Injunction entered into
on March 1, 2010 in Red Oak Partners,
LLC et al. v. Robert A. Kaiser, et
al., Cause No. 09-02404, in the 134th Judicial District Court of
Dallas County, Texas. Immediately
after the close of business on June 24,
2010, the company intends to close its stock transfer books
and discontinue recording transfers of its common stock, except by
will, intestate succession or operation of law. Accordingly,
it is expected that the trading of the company's stock on the Pink
Sheets will cease not later than the close of business on
June 24, 2010.
Additional information regarding the company's plan of
dissolution is available on its Proxy Statement on Schedule 14A,
filed with the Securities and Exchange Commission on January 23, 2007 and subsequent filings with the
Securities and Exchange Commission. The company's plan of
dissolution contemplates an orderly wind down of its business and
operations, the satisfaction of or provision for its liabilities
and the distribution of any net assets to stockholders. The
timing of any distributions to stockholders cannot be determined at
this time.
Forward-Looking Statements
Certain information included herein may constitute
"forward-looking" statements for purposes of the Securities Act of
1933, as amended, and the Securities Exchange Act of 1934, as
amended, and, as such, may involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the Company to be materially
different from future results, performance, litigation results or
achievements expressed or implied by such forward-looking
statements. When used in this report, the words "anticipates,"
"estimates," "believes," "continues," "expects," "intends," "may,"
"might," "could," "should," "likely," "plan," and similar
expressions are intended to be among the statements that identify
forward-looking statements. Statements of various factors that
could cause the actual results, performance or achievements of the
Company or future events relating to the Company to differ
materially from the Company's expectations ("Cautionary
Statements") are disclosed, including, without
limitation, those discussed in the "Risk Factors" section in Part
I, Item 1A of the Company's Annual Report on Form 10-K for the
fiscal year ended November 30, 2009,
those statements made in conjunction with the forward-looking
statements and otherwise herein. All forward-looking statements
attributable to the Company are expressly qualified in their
entirety by the Cautionary Statements. We have no intention, and
disclaim any obligation, to update or revise any forward-looking
statements, whether as a result of new information, future results
or otherwise.
SOURCE CLST Holdings, Inc.