ENGLEWOOD, Colo. -- SAN Holdings, Inc. (OTCBB: SNZH), a leading provider of proven data access solutions, today announced that, per authorization of its Board of Directors and approval by SAN Holdings shareholders at the Annual Meeting of Shareholders on July 28, 2006, the Company has implemented a one-for-twenty-five reverse split of its common stock. This reverse stock split is part of SAN Holdings plan to improve its capital structure. The number of shares of SAN Holdings common stock issued and outstanding will be reduced from 97,561,174 shares to 3,902,447 shares post-split. No fractional shares were issued as a result of the reverse split, and each fractional share that would have been issued as a result of the reverse split was rounded up to the nearest whole share. The reverse split became effective June 29, 2007. SAN Holdings, Inc. will now be trading under the ticker symbol SNZH.
"This reverse stock split is another important step forward for SANZ because it drives greater corporate visibility while enabling us to expand our shareholder base," said Todd Oseth, Chairman and CEO of SAN Holdings. "In conjunction with the other important changes that we're making, we believe now is the right time to improve our capital structure for the benefit of our shareholders."
SAN Holdings Inc.