TIDMCTS TIDMCTS TIDMCTSU 
 
RNS Number : 3154T 
Catalytic Solutions, Inc. 
27 September 2010 
 

 
+-------------------------------+------------------------------------+ 
| For Immediate Release         |                  27 September 2010 | 
+-------------------------------+------------------------------------+ 
 
 
 
                            Catalytic Solutions, Inc. 
 
 
  Merger Update - Posting of Information Statement to Shareholders, Notice of 
                                Special Meeting 
 
 
Catalytic Solutions, Inc. ("CSI" or the "Company") (AIM: CTS and CTSU), the 
Company behind Mixed Phase Catalyst (MPC ) technology announces that it has now 
posted to shareholders the Information Statement, Notice of Special Meeting of 
Shareholders and related documentation in connection with its merger with Clean 
Diesel Technologies, Inc. ("CDTI") ("Merger Documentation"). A copy of the 
Merger Documentation can be found on the Company's website at 
www.catalyticsolutions.com. 
Background to the Merger 
 
As the Company announced on May 14, 2010, the boards of directors of CSI and 
Clean Diesel Technologies, Inc. ("Clean Diesel") approved the combination of the 
businesses of Clean Diesel and CSI, whereby CSI will become a wholly-owned 
subsidiary of Clean Diesel (the "Merger") and following completion of the 
Merger, will cease trading on the Alternative Investment Market of the London 
Stock Exchange ("AIM"). 
The Merger is conditional, among other things, on obtaining CSI shareholder 
approval and Clean Diesel stockholder approval. Each of CSI and Clean Diesel 
have sent to their respective shareholders the accompanying Information 
Statement and related documentation, which include notices convening meetings of 
their security holders, to obtain the necessary approvals to complete the 
proposed Merger.  Both boards are recommending that their respective security 
holders vote in favor of the Merger and the related transactions. 
 
In addition to voting on the Merger, CSI shareholder approval is also necessary 
to complete the conversion of the secured convertible notes issued by CSI. As 
announced on June 2, 2010, CSI agreed to issue an aggregate of $4.0 million of 
secured convertible notes to a group of qualifying investors, $2.0 million of 
which have been issued by CSI in four equal installments, and the remaining $2.0 
million of which will be issued after shareholder approval of the Merger and 
after other necessary approvals under CSI's articles of incorporation but prior 
to the effective time of the Merger. 
 
More information about CSI, Clean Diesel and the proposed Merger, including 
information regarding the anticipated ownership of the combined company 
following the Merger and the merger consideration to be received by CSI's 
shareholders in the Merger, is contained in the Information Statement and 
related documentation which shareholders are urged to read carefully. 
 
 
Effect of the Merger on CSI Shareholders 
 
Immediately following completion of the Merger, CSI's common shares will 
represent a right to receive a given number of new Clean Diesel shares of common 
stock in a proportion summarized in the Information Document and in certain 
cases, also warrants to purchase such Clean Diesel shares. 
Documentation to effect cancellation of CSI common share certificates and the 
issuance of the new Clean Diesel shares and, where entitled, warrants to 
purchase such shares, will be distributed to entitled shareholders following the 
closing of the Merger. Shareholders are asked not send in any stock certificates 
representing CSI common shares to the Company at this time. Further 
documentation for such purpose will be sent to Shareholders after approval and 
completion of the Merger. 
Following the Merger, and assuming successful financings of both CSI and Clean 
Diesel, CSI will be a wholly-owned subsidiary of Clean Diesel and holders of CSI 
shares and "in-the-money" warrants (including investors in its capital raise 
highlighted above) and CSI's financial advisor will collectively own 
approximately 60% of the outstanding Clean Diesel shares of common stock, with 
current Clean Diesel stockholders (including investors in its capital raise 
discussed further in the Information Statement) owning the remaining 40%. 
Expected Timetable of Principal Events 
 
Set out below is a summary of key times and dates between now and the completion 
of the Merger: 
+---------------------------+---------------------+ 
| Event                     | Time                | 
+---------------------------+---------------------+ 
|                           |                     | 
+---------------------------+---------------------+ 
| Record date for Special   | Close of business   | 
| Meeting                   | on September 17,    | 
|                           | 2010                | 
+---------------------------+---------------------+ 
| Latest time and date for  | 5.00 p.m. (British  | 
| receipt of Forms of       | Summer time) on     | 
| Instruction by the        | October 7, 2010     | 
| Companys depositary,     |                     | 
| Computershare Investor    |                     | 
| Services PLC              |                     | 
+---------------------------+---------------------+ 
| Latest time and date for  | 5.00 p.m. (British  | 
| receipt of Proxy Cards by | Summer time) on     | 
| the Companys registrar,  | October 8, 2010     | 
| Computershare Investor    |                     | 
| Services (Jersey) Limited |                     | 
+---------------------------+---------------------+ 
| Latest time and date for  | 11.59 p.m.          | 
| receipt of Proxy Cards by | (California time)   | 
| the Company               | on October 11, 2010 | 
+---------------------------+---------------------+ 
| Time and date of Special  | 10.00 a.m.          | 
| Meeting of the Company    | (California time)   | 
|                           | on October 12, 2010 | 
+---------------------------+---------------------+ 
| Expected Effective Date   | October 15, 2010    | 
| of the Merger             |                     | 
+---------------------------+---------------------+ 
| Expected last day of      | October 15, 2010    | 
| dealing in, and for       |                     | 
| registration of transfers |                     | 
| of, CSI common shares     |                     | 
+---------------------------+---------------------+ 
| Expected time and date    | 8.00 a.m. (London   | 
| for the cancellation of   | time) on October    | 
| admission to trading of   | 18, 2010            | 
| CSIs common shares on    |                     | 
| AIM                       |                     | 
+---------------------------+---------------------+ 
| Expected time and date of | 9.30 a.m. (New York | 
| admission to trading on   | time) on October    | 
| NASDAQ of the new Clean   | 18, 2010            | 
| Diesel shares             |                     | 
+---------------------------+---------------------+ 
 
Certain of the times and dates set out in the above timetable are indicative and 
remain subject to change. If any of the above times and/or dates change, the 
revised times and/or dates will be notified to CSI shareholders by announcement 
on a Regulatory Information Service and copies of such notifications will be 
made available thereafter on the Company's website (www.catalyticsolutions.com). 
Cancellation of AIM listing of CSI shares 
Under the terms of the Merger, at the effective date of the Merger CSI 
shareholders will automatically receive new Clean Diesel shares and, in some 
cases warrants to acquire such shares and CSI will become a wholly owned 
subsidiary of Clean Diesel. Following completion of the Merger, because CSI will 
only have one shareholder, being Clean Diesel, it will be inappropriate for CSI 
to maintain its listing on AIM. 
CSI has applied to the London Stock Exchange to cancel the admission of its 
shares to trading on the AIM market, both under the "CTS" and "CTSU" ticker 
symbols, in the event that the Merger is approved and the Merger completes. 
Assuming that the Merger is approved and becomes effective on October 15, 2010 
the last day for dealing in, and for registration of transfers of, CSI common 
shares will be October 15, 2010 and the cancellation of admission to trading of 
such shares on AIM will occur at 8:00 a.m. (London time), on October 18, 2010. 
CSI and Clean Diesel have applied to list the new Clean Diesel shares to be 
issued to CSI shareholders in the Merger on the NASDAQ.  Receipt of approval of 
listing on NASDAQ is a condition to closing the Merger.  Accordingly, it is 
expected that all Clean Diesel shares to be issued to CSI shareholders in the 
Merger will be listed and admitted to trading on the NASDAQ at the effective 
time of the Merger. NASDAQ has not yet approved the listing of the new Clean 
Diesel shares. 
 
In the event that the Merger does not complete, CSI common shares will continue 
to trade on AIM as they do now. 
It is important for shareholders to be aware that by voting in favor of the 
Merger, they will be accepting the cancellation of the admission of CSI's common 
shares to trading on AIM. 
Voting at the Special Meeting of CSI Shareholders 
CSI is holding a Special Meeting of its shareholders on October 12, 2010 at the 
Company's facility located at 1621 Fiske Place, Oxnard, CA 93003, USA on October 
12, 2010 at 10.00 a.m. Californian time to consider and, if thought fit to pass 
resolutions to approve the Merger and complete certain related transactions. 
Full details of the resolutions upon which CSI shareholders are being asked to 
vote are included in the Notice of Special Meeting which can be found in the 
Information Statement. Shareholders are asked to read them carefully. 
 
CSI has elected to retain Salisbury Associates to provide proxy solicitation 
services in connection with the Company's Special Meeting to be held on October 
12, 2010 at a fee of GBP10,000. The Company will pay the costs of these proxy 
solicitation services. 
 
Proxy Cards and Forms of Instruction have also been sent to shareholders with 
the Information Statement and Notice of Special Meeting. If a shareholder does 
not plan to attend the CSI Special Meeting in person then in order for their 
vote to count at the meeting, their Forms of Instruction (if they hold 
depositary interests) must be received by CSI or Computershare no later than the 
relevant time on October 7, 2010 or their Proxy (if they hold common shares) by 
no later than the relevant time on October 8, 2010 if sent to Computershare or 
October 11, 2010 if sent to the Company.  To ensure receipt and processing of 
shareholders' votes, shareholders are urged to lodge their Forms of Instruction 
with Computershare prior to October 7, 2010 or their Proxy Card with the Company 
or Computershare prior to October 8, 2010. 
 
Holders of record may revoke proxies at any time prior to the meeting by 
delivering such revocation directly to the Secretary of the Company as set forth 
in the Information Statement. 
 
The Company's board of directors unanimously recommends that CSI shareholders 
vote FOR Proposal No. 1 to adopt the Merger Agreement and FOR Proposal No. 4 to 
adjourn the special meeting, if necessary, if a quorum is present, to solicit 
additional proxies if there are not sufficient votes in favor of Proposals No. 
1, No. 2 and No. 3.  The Company's board of directors also recommends that CSI 
shareholders vote FOR Proposal No. 2 to amend CSI's articles of incorporation to 
designate CSI's current outstanding shares of common stock as "Class A" common 
stock, to create a new class of common stock to be designated as "Class B" 
common stock, and to increase its authorized share capital and FOR Proposal No. 
3 to disapply shareholder pre-emptive rights. Mr. Alexander "Hap" Ellis, III has 
an interest in the secured convertible notes as described in the Information 
Statement. Accordingly, Mr. Ellis abstains from recommending Proposals No. 2 and 
No. 3. 
 
Even if shareholders plan to attend the Special Meeting in person, the Company 
urges shareholders to sign and return the enclosed Proxy Card or Voting 
Instruction Card to ensure that their interests in CSI common shares will be 
represented at the meeting should they be unable to attend. Completion of a 
Proxy Card or Voting Instruction Card will not preclude a shareholder from 
attending the Special Meeting in person and voting in person. Further 
information on voting and attendance at the Special Meeting is set out in the 
accompanying Information Statement. Shareholders are asked to read the 
accompanying Information Statement and related documents carefully and cast 
their vote as promptly as possible. 
 
 
 
For further details please contact: 
+---------------------------+------------------+--------------------+ 
| Catalytic Solutions, Inc. | Canaccord        | Buchanan           | 
| Charlie Call, Chief       | Genuity Limited  | Communications     | 
| Executive Officer         | Robert Finlay    | Charles Ryland     | 
| Tel: +1 (805) 639-9463    | Guy Blakeney     | Christian Goodbody | 
| Steve Golden, Chief       |                  |                    | 
| Technical Officer         |                  |                    | 
| Tel: +1 (805) 639-9464    |                  |                    | 
| Nikhil Mehta, Chief       | Tel: 020 7050    | Tel: 020 7466 5000 | 
| Financial Officer         | 6500             |                    | 
| Tel: +1 (805) 639-9461    |                  |                    | 
+---------------------------+------------------+--------------------+ 
 
About Catalytic Solutions, Inc. 
Catalytic Solutions, Inc. is a global manufacturer and distributor of emissions 
control systems and products, focused in the heavy duty diesel and light duty 
vehicle markets. The Company's emissions control systems and products are 
designed to deliver high value to its customers while benefiting the global 
environment through air quality improvement, sustainability and energy 
efficiency. Catalytic Solutions, Inc. is listed on AIM of the London Stock 
Exchange (AIM: CTS and CTSU) and currently has operations in the USA, Canada, 
France, Japan and Sweden as well as an Asian joint venture. 
 
A copy of this release is available on CSI's website at 
www.catalyticsolutions.com. 
The board directors of CSI accepts responsibility for all the information 
contained in this Announcement except for that information regarding Clean 
Diesel, for which it accepts no responsibility. To the best of the knowledge and 
belief of the board directors of CSI (who have taken all reasonable care to 
ensure that such is the case), the information contained in this document for 
which they are responsible is in accordance with the facts and does not omit 
anything likely to affect the import of such information. 
Further contact details in connection with assistance in the completion of Proxy 
Cards and Forms of Instruction for use in connection with the Special Meeting to 
be held on October 12, 2010 may be found on the Company's website at 
www.calyticsolutions.com. 
 
This communication shall not constitute an offer to sell or the solicitation of 
an offer to sell or the solicitation of an offer to buy any securities, nor 
shall there be any sale of securities in any jurisdiction in which such offer, 
solicitation or sale would be unlawful prior to registration or qualification 
under the securities laws of any such jurisdiction. 
An information statement in the form to be provided to CSI's shareholders in 
connection with the proposed Merger is included in a registration statement on 
Form S-4 which was initially filed by Clean Diesel with the U.S. Securities and 
Exchange Commission on 14 May 2010, and amended on 22 July 2010, 30 August 2010, 
15 September 2010 and 23 September 2010, and which was declared effective on 23 
September 2010. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MERKKQDDFBKDDCB 
 

Catalytic (LSE:CTS)
Historical Stock Chart
Von Nov 2024 bis Dez 2024 Click Here for more Catalytic Charts.
Catalytic (LSE:CTS)
Historical Stock Chart
Von Dez 2023 bis Dez 2024 Click Here for more Catalytic Charts.