BRIDGEPORT, Conn., Sept. 13, 2010 (GLOBE NEWSWIRE) -- The Committee to Restore Stockholder Value and Integrity for Clean Diesel (the "Committee") today announced that stockholders have demanded Clean Diesel Technologies, Inc. hold a Special Stockholders' Meeting as soon as possible. Per the Clean Diesel bylaws, the Committee made the request on behalf of shareholders representing more than 25% of Clean Diesel's outstanding stock.
These stockholders have decided that the current members of the Board of Directors, who have voted to reverse merge Clean Diesel Technologies, Inc. ("CDTI") into Catalytic Solutions, Inc., a virtually bankrupt company, need to be replaced immediately so that CDTI can pursue sensible business alternatives. The Committee and these stockholders reaffirm their dissatisfaction with CDTI's current Board and management, who continue to put stockholder value at risk with this proposed merger and other questionable activities.
The Committee's goal is to restore stockholder confidence and value to Clean Diesel Technologies, Inc. The Committee encourages all shareholders to consider this information and other materials filed with the SEC. With a new Board, the Committee expects Clean Diesel to move rapidly ahead in a positive direction to restore the confidence of investors and customers.
On Behalf of the Committee to Restore Stockholder Value and Integrity for Clean Diesel,
/s/ Andrew Merz Hanson
Andrew Merz Hanson, CFA, Chairman
John J. McCloy II
Ann B. Ruple, CPA
We appreciate your continued support. If you have any questions or comments, please contact us at info@RestoreClean Diesel.com. You can learn more about how we believe Clean Diesel's current management is destroying stockholder value, the seemingly self-interested actions of management and the sitting Board at www.RestoreCleanDiesel.com.
THE COMMITTEE TO RESTORE STOCKHOLDER VALUE AND INTEGRITY FOR CLEAN DIESEL IS PROVIDING THE FORGOING INFORMATION TO SHAREHOLDERS PRIOR TO FILING OF A PROXY STATEMENT PURSUANT TO RULE 14a-12. WE ARE NOT CURRENTLY ASKING YOU FOR A PROXY AND YOU ARE REQUESTED NOT TO SEND US A PROXY AT THIS TIME.
THE COMMITTEE'S PROXY STATEMENT WILL CONTAIN IMPORTANT INFORMATION AND SHOULD BE READ PRIOR TO DELIVERING ANY PROXY. ONCE FILED, THE PROXY STATEMENT AND ANY ADDITIONAL PROXY MATERIALS MAY BE VIEWED FOR FREE AT:
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000949428.