Mittwoch, 23. Mai | 16:41 Uhr

DJ DGAP-News: Clean Diesel Technologies, Inc. Defers Decision to Accelerate Expiration of Warrants to Acquire Its Common Stock

Clean Diesel Technologies, Inc. 

23.11.2010 22:16
=-------------------------------------------------------------------------- 

VENTURA, Calif., Nov. 23, 2010 (GLOBE NEWSWIRE) -- Clean Diesel Technologies,
Inc. (Nasdaq:CDTI), a cleantech emissions reduction company, has announced that
its Board of Directors has elected to defer any decision to accelerate the
expiration date of the warrants to acquire an aggregate of approximately
848,112 shares of Clean Diesel common stock that were issued in connection with
Clean Diesel's acquisition of Catalytic Solutions, Inc. on October 15, 2010. 

The warrants, currently exercisable at a price of $7.92 per share of Clean
Diesel common stock, have an expiration date of October 15, 2013. Pursuant to
the terms of the warrants, the Company may, but is not required to, accelerate
the expiration date of the warrants by giving notice that the Fair Market Value
of a share of Clean Diesel's common stock has exceeded 130% of the exercise
price for a consecutive 10 day period. Fair Market Value is determined by
reference to the consolidated closing bid price per share of Clean Diesel
common stock as reported on the NASDAQ Stock Market, LLC. If such notice is
given, the expiration date will be accelerated to the date which is 30 days
after the notice is given. 

Since its October 15, 2010 acquisition of Catalytic Solutions, Inc., the
consolidated closing bid price per share of Clean Diesel common stock has
exceeded 130% of the exercise price for a period of more than 10 consecutive
days. In the event that the Board of Directors subsequently decides to issue
notice of this occurrence, the October 15, 2013 expiration date would be
accelerated to the date that is 30 days after the date of such notice, and
warrants not previously exercised would expire without value. 

About the Company 

Clean Diesel Technologies, Inc. (Nasdaq:CDTI), 'Clean Diesel,' 'CDT' or the
'Company' is, with the recent business combination with Catalytic Solutions,
Inc. ('CSI'), a vertically integrated global manufacturer and distributor of
emissions control systems and products, focused in the heavy duty diesel (HDD)
and light duty vehicle (LDV) markets. As a cleantech company, CDT utilizes its
proprietary patented Mixed Phase Catalyst (MPC(r)) technology, as well as its
ARIS(r) selective catalytic reduction; Platinum Plus(r) Fuel-Borne Catalyst (FBC),
and other technologies to provide high-value sustainable solutions to reduce
emissions, increase energy efficiency and lower the carbon intensity of on- and
off-road engine applications. CDT is headquartered in Ventura, California,
along with its wholly-owned subsidiary, CSI, and currently has operations in
the U.S., Canada, U.K., France, Japan and Sweden as well as an Asian joint
venture. For more information, please visit www.cdti.com and www.catsolns.com. 

The Clean Diesel Technologies, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5742 

CONTACT:  Clean Diesel Technologies, Inc.
          Kristi Cushing, Investor Relations Manager
          +1 (805) 639-9458 

News Source: NASDAQ OMX 

23.11.2010 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement. 

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de 

=-------------------------------------------------------------------------- 

Language:     English
Company:      Clean Diesel Technologies, Inc. 

              US
Phone:
Fax:
E-mail:
Internet:
ISIN:         US18449C3025
WKN: 

End of Announcement                             DGAP News-Service 

=-------------------------------------------------------------------------- 

(END) Dow Jones Newswires

November 23, 2010 16:17 ET (21:17 GMT)