San West (SNWT) Approves 5-for-1 Stock Split
San West, Inc. (OTCBB: SNWT) today announced that its Board of Directors has approved a five-for-one stock split to be effected in the form of a stock dividend. The Company will distribute four additional shares of its common stock to all shareholders of record at the close of business on October 26, 2009 for every share of common stock held on that date. The shares will be distributed on November 2, 2009 by the Company's transfer agent, First American Stock Transfer so that the new shares issued will equal 5 times the pre-split number with fractional shares rounded up to the nearest share.
"This stock dividend allows us to share our success with our loyal stockholders to the extent of our authorized stock and underscores our confidence in the strength of our Company and its prospects for the future," said Frank Drechsler, SNWT's President and CEO. "We remain committed to building stockholder value by providing consumers with extraordinary products and service."
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