Issuer Delisting; Notice of Application of Grupo Imsa, S.A. de C.V. To Withdraw Its American Depositary Shares (Represented by American Depositary Receipts (Each Representing Nine Equity Units, Each of Which Consists of Three Series B Shares, No Par Value, and Two Series C Shares, No Par Value), From Listing and Registration on the New York Stock Exchange, Inc., 12759-12760 [E5-1119]

Download as PDF Federal Register / Vol. 70, No. 49 / Tuesday, March 15, 2005 / Notices (https://www.sec.gov/rules/delist.shtml). Comments are also available for public inspection and copying in the Commission’s Public Reference Room. All comments received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. The Commission, based on the information submitted to it, will issue an order granting the application after the date mentioned above, unless the Commission determines to order a hearing on the matter. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.5 Jonathan G. Katz, Secretary. [FR Doc. E5–1115 Filed 3–14–05; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 1–04822] Issuer Delisting; Notice of Application of Earl Scheib, Inc. To Withdraw Its Capital Stock, $1.00 Par Value, From Listing and Registration on the American Stock Exchange LLC March 9, 2005. On February 24, 2005, Earl Scheib, Inc., a Delaware corporation (‘‘Issuer’’), filed an application with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 12(d) of the Securities Exchange Act of 1934 (‘‘Act’’)1 and Rule 12d2–2(d) thereunder,2 to withdraw its capital stock, $1.00 par value (‘‘Security’’), from listing and registration on the American Stock Exchange LLC (‘‘Amex’’). On February 23, 2005, the Board of Directors (‘‘Board’’) of the Issuer unanimously approved resolutions to withdraw the Security from listing on Amex. The Board stated that it determined it is in the best interest of the Issuer and its stockholders to withdraw the Security from Amex for the following reasons: (1) The Issuer has fewer than 300 record holders of the Security; (2) the Security trades in low volumes and, as a result, listing of the Security on Amex does not provide significant liquidity to stockholders; (3) the expense of maintaining the listing of the Security on Amex, including the cost of complying with the Act and the provision added by the Sarbanes-Oxley Act of 2002, has had, and is expected in the future to have, a significant negative effect on the Issuer’s earnings; (4) the Issuer’s management believes the Issuer is the only publicly-traded chain operator of automotive paint and body shops, and that the costs of maintaining its listing on Amex and complying with the Act place the Issuer at a disadvantage with competitors who do not bear these costs nor make the required disclosures; (5) compliance with the Act and the listing rules of Amex demands significant attention from the Issuer’s management and the Board, which attention would otherwise be devoted to developing the Issuer’s business and pursing strategic opportunities; and (6) the Issuer has not sought financing in public capital markets in many years, and the Issuer’s management does not expect to do so for the foreseeable future. The Issuer stated in its application that it has met the requirements of Amex Rule 18 by complying with all applicable laws in Delaware, in which it is incorporated, and with Amex’s rules governing an issuer’s voluntary withdrawal of a security from listing and registration. The Issuer’s application relates solely to withdrawal of the Security from listing on Amex and from registration under Section 12(b) of the Act,3 and shall not affect its obligation to be registered under Section 12(g) of the Act.4 Any interested person may, on or before April 4, 2005 comment on the facts bearing upon whether the application has been made in accordance with the rules of Amex, and what terms, if any, should be imposed by the Commission for the protection of investors. All comment letters may be submitted by either of the following methods: Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/delist.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include the File Number 1–04822 or; Paper Comments • Send paper comments in triplicate to Jonathan G. Katz, Secretary, Securities and Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549–0609. All submissions should refer to File Number 1–04822. This file number should be included on the subject line 5 17 CFR 200.30–3(a)(1). U.S.C. 78l(d). 2 17 CFR 240.12d2–2(d). VerDate jul<14>2003 15:31 Mar 14, 2005 if e-mail is used. To help us process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (https://www.sec.gov/rules/delist.shtml). Comments are also available for public inspection and copying in the Commission’s Public Reference Room. All comments received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. The Commission, based on the information submitted to it, will issue an order granting the application after the date mentioned above, unless the Commission determines to order a hearing on the matter. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.5 Jonathan G. Katz, Secretary. [FR Doc. E5–1116 Filed 3–14–05; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 1–14544] Issuer Delisting; Notice of Application of Grupo Imsa, S.A. de C.V. To Withdraw Its American Depositary Shares (Represented by American Depositary Receipts (Each Representing Nine Equity Units, Each of Which Consists of Three Series B Shares, No Par Value, and Two Series C Shares, No Par Value), From Listing and Registration on the New York Stock Exchange, Inc. March 9, 2005. On February 10, 2005, Grupo Imsa, S.A. de C.V., a company organized under the laws of United Mexican States (‘‘Issuer’’), filed an application with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 12(d) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 12d2–2(d) thereunder,2 to withdraw its American Depositary Shares (each representing nine equity units, each of which consists of three Series B shares, no par value, and two Series C shares, no par value) (‘‘Security’’), from listing and registration on the New York Stock Exchange, Inc. (‘‘NYSE’’). The Board of Directors (‘‘Board’’) of the Issuer adopted resolutions, at a 5 17 1 15 CFR 200.30–3(a)(1). U.S.C. 78l(d). 2 17 CFR 240.12d2–2(d). 3 15 U.S.C. 78l(b). 4 15 U.S.C. 78l(g). Jkt 205001 PO 00000 Frm 00115 Fmt 4703 1 15 Sfmt 4703 12759 E:\FR\FM\15MRN1.SGM 15MRN1 12760 Federal Register / Vol. 70, No. 49 / Tuesday, March 15, 2005 / Notices meeting held on January 10, 2005, to withdraw the Security from listing and registration on the NYSE. The Board stated that in reaching its decision to withdraw the Security from the Exchange, the Board considered the following factors. First, the Board believes that the Issuer’s shareholders have been disadvantaged by the historically thin liquidity of the trading in the US markets for the Security. The Board believes that the trading price of the Security has been adversely affected by weak liquidity. Second, in the Board’s view, the liquidity and pricing issues have arisen because the public float of the Security is not large enough to support trading on two exchanges. Only 15% of the Security is owned by the public, with the rest owned by the Canales Clariond and Clariond Reyes families. Since the Issuer is a Mexican company, headquartered in Monterrey, Mexico, the Board believes that all trading in the Security should take place on the Mexican Stock Exchange. Third, the Board hopes that if all of the trading in the Security takes place on the Mexican Stock Exchange, the market for the Security on that exchange will show improved liquidity and pricing. In that case, withdrawal of the Security from listing on the NYSE will benefit the Issuer’s shareholders. Last, the Board stated that as required by the Issuer’s by-laws, the Issuer’s shareholders have voted on and approved by a majority of more than 98%, the proposal to withdraw the Security from listing on the NYSE. Investors in the Security will continue to have access to information regarding the Issuer contained in reports filed with the Commission. In view of the thin liquidity of the trading markets for the Security and the price at which the Security has historically been trading, the Board believes that the Issuer’s shareholders have not realized the benefits of an NYSE listing. The Issuer stated in its application that it has complied with the NYSE’s rules governing an issuer’s voluntary withdrawal of a security from listing and registration by providing the NYSE with the required documents governing the removal of securities from listing and registration on the NYSE. The Issuer’s application relates solely to the withdrawal of the Security from listing on the NYSE and from registration under Section 12(b) of the Act,3 and shall not affect its obligation to be registered under Section 12(g) of the Act.4 Any interested person may, on or before April 4, 2005, comment on the facts bearing upon whether the application has been made in accordance with the rules of the NYSE, and what terms, if any, should be imposed by the Commission for the protection of investors. All comment letters may be submitted by either of the following methods: SECURITIES AND EXCHANGE COMMISSION Electronic Comments On February 15, 2005, Perficient, Inc. a Delaware corporation (‘‘Issuer’’), filed an application with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 12(d) of the Securities Exchange Act of 1934 (‘‘Act’’)1 and Rule 12d2–2(d) thereunder,2 to withdraw its common stock, $.001 par value (‘‘Security’’), from listing and registration on the Boston Stock Exchange, Inc. (‘‘BSE’’). On February 7, 2005, the Board of Directors (‘‘Board’’) of the Issuer approved resolutions to withdraw the Security from listing and registration on BSE. In making the decision to delist the Security from BSE, the Issuer stated that the following reason factored into its decision. Over the course of the past twelve months, the Issuer has periodically reviewed its ability to comply with the listing standards of Nasdaq National Market (‘‘Nasdaq’’) in order to move the listing of the Security from Nasdaq SmallCap Market to the Nasdaq. The Issuer was aware that once the Security was listed on Nasdaq, the Security would then be a covered security pursuant to Sections 18(b)(1)(A) of the Securities Act of 1933 (‘‘Securities Act’’)3 and the Issuer would no longer need to maintain the listing of the Security on BSE to qualify for the exemption provided by Section 18 of the Securities Act. In December 2004, the Issuer determined that it met the criteria for listing the Security on Nasdaq. In January 2005, the Issuer applied to Nasdaq to move the listing of the Security to Nasdaq and to begin trading of the Security from Nasdaq SmallCap Market to Nasdaq on February 2, 2005. Concurrent with its decision to apply for listing the Security on Nasdaq, the Issuer received a request from BSE on January 3, 2005 to update the Issuer’s number of shares listed on BSE, to confirm compliance with the corporate governance requirements of the Sarbanes-Oxley Act of 2002, and to confirm the current number of beneficial holders of the Security. On February 3, 2005, the Issuer notified BSE that the Security was listed on • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/delist.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include the File Number 1–14544 or; Paper Comments • Send paper comments in triplicate to Jonathan G. Katz, Secretary, Securities and Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549–0609. All submissions should refer to File Number 1–14544. This file number should be included on the subject line if e-mail is used. To help us process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (https://www.sec.gov/rules/delist.shtml). Comments are also available for public inspection and copying in the Commission’s Public Reference Room. All comments received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. The Commission, based on the information submitted to it, will issue an order granting the application after the date mentioned above, unless the Commission determines to order a hearing on the matter. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.5 Jonathan G. Katz, Secretary. [FR Doc. E5–1119 Filed 3–14–05; 8:45 am] BILLING CODE 8010–01–P [File No. 1–15169] Issuer Delisting; Notice of Application of Perficient, Inc. To Withdraw Its Common Stock, $.001 Par Value, From Listing and Registration on the Boston Stock Exchange, Inc. March 9, 2005. 1 15 U.S.C. 78l(b). 4 15 U.S.C. 78l(g). U.S.C. 78l(d). CFR 240.12d2–2(d). 3 15 U.S.C. 77r § 18(b)(1)(A). 3 15 VerDate jul<14>2003 15:31 Mar 14, 2005 2 17 5 17 Jkt 205001 PO 00000 CFR 200.30–3(a)(1). Frm 00116 Fmt 4703 Sfmt 4703 E:\FR\FM\15MRN1.SGM 15MRN1

Agencies

[Federal Register Volume 70, Number 49 (Tuesday, March 15, 2005)]
[Notices]
[Pages 12759-12760]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-1119]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[File No. 1-14544]


Issuer Delisting; Notice of Application of Grupo Imsa, S.A. de 
C.V. To Withdraw Its American Depositary Shares (Represented by 
American Depositary Receipts (Each Representing Nine Equity Units, Each 
of Which Consists of Three Series B Shares, No Par Value, and Two 
Series C Shares, No Par Value), From Listing and Registration on the 
New York Stock Exchange, Inc.

March 9, 2005.
    On February 10, 2005, Grupo Imsa, S.A. de C.V., a company organized 
under the laws of United Mexican States (``Issuer''), filed an 
application with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 12(d) of the Securities Exchange 
Act of 1934 (``Act'') \1\ and Rule 12d2-2(d) thereunder,\2\ to withdraw 
its American Depositary Shares (each representing nine equity units, 
each of which consists of three Series B shares, no par value, and two 
Series C shares, no par value) (``Security''), from listing and 
registration on the New York Stock Exchange, Inc. (``NYSE'').
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78l(d).
    \2\ 17 CFR 240.12d2-2(d).
---------------------------------------------------------------------------

    The Board of Directors (``Board'') of the Issuer adopted 
resolutions, at a

[[Page 12760]]

meeting held on January 10, 2005, to withdraw the Security from listing 
and registration on the NYSE. The Board stated that in reaching its 
decision to withdraw the Security from the Exchange, the Board 
considered the following factors. First, the Board believes that the 
Issuer's shareholders have been disadvantaged by the historically thin 
liquidity of the trading in the US markets for the Security. The Board 
believes that the trading price of the Security has been adversely 
affected by weak liquidity. Second, in the Board's view, the liquidity 
and pricing issues have arisen because the public float of the Security 
is not large enough to support trading on two exchanges. Only 15% of 
the Security is owned by the public, with the rest owned by the Canales 
Clariond and Clariond Reyes families. Since the Issuer is a Mexican 
company, headquartered in Monterrey, Mexico, the Board believes that 
all trading in the Security should take place on the Mexican Stock 
Exchange. Third, the Board hopes that if all of the trading in the 
Security takes place on the Mexican Stock Exchange, the market for the 
Security on that exchange will show improved liquidity and pricing. In 
that case, withdrawal of the Security from listing on the NYSE will 
benefit the Issuer's shareholders.
    Last, the Board stated that as required by the Issuer's by-laws, 
the Issuer's shareholders have voted on and approved by a majority of 
more than 98%, the proposal to withdraw the Security from listing on 
the NYSE. Investors in the Security will continue to have access to 
information regarding the Issuer contained in reports filed with the 
Commission. In view of the thin liquidity of the trading markets for 
the Security and the price at which the Security has historically been 
trading, the Board believes that the Issuer's shareholders have not 
realized the benefits of an NYSE listing.
    The Issuer stated in its application that it has complied with the 
NYSE's rules governing an issuer's voluntary withdrawal of a security 
from listing and registration by providing the NYSE with the required 
documents governing the removal of securities from listing and 
registration on the NYSE.
    The Issuer's application relates solely to the withdrawal of the 
Security from listing on the NYSE and from registration under Section 
12(b) of the Act,\3\ and shall not affect its obligation to be 
registered under Section 12(g) of the Act.\4\
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78l(b).
    \4\ 15 U.S.C. 78l(g).
---------------------------------------------------------------------------

    Any interested person may, on or before April 4, 2005, comment on 
the facts bearing upon whether the application has been made in 
accordance with the rules of the NYSE, and what terms, if any, should 
be imposed by the Commission for the protection of investors. All 
comment letters may be submitted by either of the following methods:

Electronic Comments

     Use the Commission's Internet comment form (https://
www.sec.gov/rules/delist.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
the File Number 1-14544 or;

Paper Comments

     Send paper comments in triplicate to Jonathan G. Katz, 
Secretary, Securities and Exchange Commission, 450 Fifth Street, NW., 
Washington, DC 20549-0609.

All submissions should refer to File Number 1-14544. This file number 
should be included on the subject line if e-mail is used. To help us 
process and review your comments more efficiently, please use only one 
method. The Commission will post all comments on the Commission's 
Internet Web site (https://www.sec.gov/rules/delist.shtml). Comments are 
also available for public inspection and copying in the Commission's 
Public Reference Room. All comments received will be posted without 
change; we do not edit personal identifying information from 
submissions. You should submit only information that you wish to make 
available publicly.
    The Commission, based on the information submitted to it, will 
issue an order granting the application after the date mentioned above, 
unless the Commission determines to order a hearing on the matter.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\5\
---------------------------------------------------------------------------

    \5\ 17 CFR 200.30-3(a)(1).
---------------------------------------------------------------------------

Jonathan G. Katz,
Secretary.
[FR Doc. E5-1119 Filed 3-14-05; 8:45 am]
BILLING CODE 8010-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.