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Fri, October 30, 2009 San West, Inc. Postpones Upcoming Forward Stock Split
SAN DIEGO, CA--(Marketwire - October 30, 2009) - San West, Inc. (
"Due to a delay caused by communication problems between FINRA and a third party in satisfying all regulatory requirements with respect to our proposed five for one forward split which was scheduled to occur on November 2, San West has decided to postpone the effective date of the proposed split until all regulatory requirements have been met. San West notified FINRA of its intent with respect to the proposed forward split on October 9, but was not notified by FINRA of a problem until the afternoon of October 27. As soon as San West became aware of the problem, it took immediate steps to provide all needed information. San West will notify its shareholders of the 'ex-date' of the forward split as soon as possible. The 'ex-date' is defined as the day before which an investor must have purchased the company's stock in order to receive the additional shares. If you purchase a stock on the 'ex-date' for a split or distribution you are not entitled to the split stock or that distribution. However, the opening price for the stock will have been reduced by an appropriate amount, as on the ex-dividend date. Weekly financial publications, such as Barron's, often include a stock's upcoming 'ex-date' as part of their stock tables. San West will notify its shareholders of the effective date of the forward split as soon as possible."
The company hopes to have all matters cleared by FINRA early next week.
About San West, Inc.
San West designs, manufacturers, sells and repairs off-road buggies, and additionally provides aftermarket performance products and accessories for off-road buggies. Products are sold via three divisions: at retail store locations, via the online store and through its growing dealer network. Buggy repair services are sold and fulfilled at the Santee, California retail location.
For further information about San West, Inc. visit [ www.CountyImports.com ], [ www.BuggyWorld.net ] and [ www.SanWestInc.com ].
Certain statements contained herein are "forward-looking" statements (as defined -- Private Securities Litigation Reform Act of 1995). SNWT cautions that the statements made in this press release constitute forward-looking statements and no guarantees of future performance and actual results or developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time the statements are made.
