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.
CLST Holdings, Inc.
CONTACT: Robert A. Kaiser, President, Chief Executive Officer of CLST
Holdings, Inc., +1-972-267-0500
