CLST .005 News new ownership
Celsia Technologies, Inc. Announces Change in Ownership
MIAMI, Apr 30, 2012 (GlobeNewswire via COMTEX) -- Celsia Technologies, Inc. (Pink Sheets:CLST) has agreed to transfer all of its assets to a group of current investors and employees, upon approval by its board of directors and a majority of its voting interest shareholders. Beginning May 1st 2012, the new U.S. based business along with its Taiwan subsidiary, Celsia Technologies Taiwan Inc, will begin uninterrupted operations as Celsia Inc.
The asset transfer to the holders of senior-position secured debentures is in full satisfaction of the amounts due and will constitute a "strict foreclosure" pursuant to Article 9 of the Uniform Commercial Code. This transaction will end all business and operations of Celsia Technologies Inc., ceasing its corporate existence under Nevada law effective April 30th 2012.
George Meyer, Celsia Inc. CEO commented, "This restructuring will in no way affect the important relationships we have with our customers and vendors. We are a growing organization that is more focused than ever on providing innovative thermal designs to the Computer, Telecommunications, LED, and Military markets".
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Celsia Technologies, Inc.
By Staff
CONTACT: CONTACT: Editors' contact:
George Meyer
(408) 505-9721
gmeyer@celsiatechnologies.com
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
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INDUSTRY KEYWORD: Business Services
SUBJECT CODE: COMPUTERS
Restructuring Recapitalization |
