Sanmina-Sci Corp (SANM)

[mlkrborn]

http://www.shareholder.com/sanm/ReleaseD...


Board Approves Reverse Stock Split

On July 20, 2009, the Board of Directors of the Company authorized a reverse split of its common stock at a ratio of one for six, effective August 14, 2009. The Company's stockholders previously approved the reverse split in September 2008. The reason to proceed with the reverse split is to broaden the range of institutions that can invest in the company's stock, increase analyst and broker interest, potentially reduce stock price volatility, reduce the number of outstanding shares and to reduce the risk of Nasdaq delisting.

As a result of the reverse split, every six shares of common stock outstanding will be combined into one share of common stock. The total number of shares of common stock outstanding will be reduced from approximately 472 million shares to approximately 78 million shares and the number of authorized shares of common stock will also be concurrently reduced on a proportional basis. The Company's common stock will begin trading on a split-adjusted basis on August 17, 2009 under the symbol "SANMD". After 20 trading days, the common stock will resume trading under "SANM".