CLST Holdings,(Pink Sheets: CLHI) recently shared 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. 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.
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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. 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.
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