Issuer Delisting; Notice of Application of Centennial Specialty Foods Corporation To Withdraw Its Common Stock, $.0001 Par Value, From Listing and Registration on the Boston Stock Exchange, Inc., 71564-71565 [E5-6662]
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71564
Federal Register / Vol. 70, No. 228 / Tuesday, November 29, 2005 / Notices
SUMMARY OF ACTUARIAL VALUATION RESULTS, 2000–2003—Continued
Valuation Date (October 1)
Item
2003
Unfunded liability, vested benefits* (000) ........................................................................
Valuation interest rate (%) ...............................................................................................
2002
10,948
7.5
2001
23,999
7.5
2,652
7.5
2000
(36,143)
7.5
* Using market value of assets
Decision on the Proposed Amendment
The statute and the implementing
regulation state that PBGC must make
two factual determinations before it
approves a request for an amendment
that adopts a special withdrawal
liability rule. ERISA section 4203(f); 29
CFR 4203.4(a). First, on the basis of a
showing by the plan, PBGC must
determine that the amendment will
apply to an industry that has
characteristics that would make use of
the special rules appropriate. Second,
PBGC must determine that the plan
amendment will not pose a significant
risk to the insurance system. PBGC’s
discussion on each of those issues
follows. After review of the record
submitted by the Plan, and having
received no public comments, PBGC has
entered the following determinations.
1. What Is the Nature of the Industry?
In determining whether an industry
has the characteristics that would make
an amendment to special rules
appropriate, an important line of
inquiry is the extent to which the Plan’s
contribution base resembles that found
in the construction industry. This
threshold question requires
consideration of the effect of employer
withdrawals on the Plan’s contribution
base.
Work covered by this plan must be
performed at the office building located
in Chicago. Thus, the work is local in
nature; it generally will continue to be
covered by the Plan. An employer
ceases contributing when work is
outsourced, the contractor loses a
cleaning or security contract with a
building owner, bankruptcy, closeout of
a business as a result of retirement, or
business relocation. Over the past ten
years, cessation of contributions by any
individual employer has not had an
adverse impact on the Plan’s
contribution base. Most employers that
have ceased to contribute have been
replaced by another employer who
begins contributing for the same work.
2. What Is the Exposure and Risk of Loss
to PBGC and Participants?
Exposure. The bargaining parties have
increased benefits for active workers by
just over 25% since 1999. For a
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20:13 Nov 28, 2005
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participant who retires with 25 years of
service (the maximum) the monthly
benefit has risen from $538 to $675.
Thus, benefit liabilities will rise because
recent retirees will have higher benefits.
Risk of loss. The record shows that the
Plan presented a low risk of loss to
PBGC guaranty funds. The Plan’s active
participant population is increasing.
Plan assets increased from 1997 to 2000,
and dipped slightly after that. While no
longer fully funded for accrued or
vested benefits, underfunding decreased
in 2003. The Plan and the covered
industry have unique characteristics
that suggest that the Plan’s contribution
base is likely to remain stable.
Contributions to the Plan are made with
respect to Chicago commercial office
buildings. Consequently, the Plan’s
contribution base is secure and the
departure of one employer from the Plan
is not likely to have an adverse effect on
the contribution base so long as the
number of buildings covered does not
decline.
Conclusion
Based on the facts of this case and the
representations and statements made in
connection with the request for
approval, PBGC has determined that the
plan amendment modifying special
withdrawal liability rules (1) will apply
only to an industry that has
characteristics that would make the use
of special withdrawal liability rules
appropriate, and (2) will not pose a
significant risk to the insurance system.
Therefore, PBGC hereby grants the
Plan’s request for approval of a plan
amendment modifying special
withdrawal liability rules, as set forth
herein. Should the Plan wish to amend
these rules at any time, PBGC approval
of the amendment will be required.
Issued at Washington, DC, on this 17th day
of November, 2005.
Bradley D. Belt,
Executive Director, Pension Benefit Guaranty
Corporation.
[FR Doc. E5–6625 Filed 11–28–05; 8:45 am]
Frm 00106
Fmt 4703
[File No. 1–31816]
Issuer Delisting; Notice of Application
of Centennial Specialty Foods
Corporation To Withdraw Its Common
Stock, $.0001 Par Value, From Listing
and Registration on the Boston Stock
Exchange, Inc.
November 22, 2005.
On November 4, 2005, Centennial
Specialty Foods Corporation, 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, $.0001 par value (‘‘Security’’),
from listing and registration on the
Boston Stock Exchange, Inc. (‘‘BSE’’).
On November 1, 2004, the Board of
Directors (‘‘Board’’) of the Issuer
approved resolutions on November 1,
2005 to withdraw the Security from
listing on BSE. The Issuer stated that the
following reason factored into the
Board’s decision to withdraw the
Security from BSE: (1) The Issuer was
recently delisted from the Nasdaq Stock
Market, and as a result, BSE suspended
trading in the Security on October 26,
2005; (2) the Issuer does not believe it
will be able to comply with BSE’s
requirement to have an audit committee
composed of at least three independent
board members; and (3) in order to
reduce costs, the Issuer expects to
terminate its obligations to file reports
with the Commission or otherwise be
subjected to the Act through filing of
Form 15 with the Commission.
The Issuer stated in its application
that it has complied with Rule 12d–2–
2(d) under the Act 3 by complying with
all applicable laws in the State of
Delaware, the state in which the Issuer
is incorporated, and by providing BSE
with the required documents governing
the withdrawal of securities from listing
and registration on BSE. The Issuer’s
1 15
U.S.C. 78l(d).
CFR 240.12d2–2(d).
3 See id.
2 17
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E:\FR\FM\29NON1.SGM
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Federal Register / Vol. 70, No. 228 / Tuesday, November 29, 2005 / Notices
application relates solely to the
withdrawal of the Security from listing
on BSE and shall not affect its obligation
to be registered under Section 12(b) of
the Act.4
Any interested person may, on or
before December 15, 2005 comment on
the facts bearing upon whether the
application has been made in
accordance with the rules of BSE, 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
• Send an e-mail to rulecomments@sec.gov. Please include the
File Number 1–31816 or;
Paper Comments
• Send paper comments in triplicate
to Jonathan G. Katz, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–9303.
All submissions should refer to File
Number 1–31816. 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. E5–6662 Filed 11–28–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[File No. 1–32657]
Issuer Delisting; Notice of Application
of Nabors Industries Ltd. To Withdraw
Its Common Shares, $.001 Par Value,
From Listing and Registration on the
American Stock Exchange LLC
November 22, 2005.
On November 3, 2005, Nabors
Industries Ltd., a Bermuda exempted
company (‘‘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 shares, $.001 par value
(‘‘Security’’), from listing and
registration on the American Stock
Exchange LLC (‘‘Amex’’).
On the Board of Directors (‘‘Board’’) of
the Issuer unanimously approved a
resolution on May 6, 2005, to withdraw
the Security from listing on Amex and
to list the Security on the New York
Stock Exchange, Inc. (‘‘NYSE’’). The
Issuer stated that the Board’s reason to
withdraw the Security from Amex and
list the Security on NYSE was to avoid
direct and indirect costs and the
division of the market resulting from
dual listing on Amex and NYSE.
The Issuer stated in its application
that it has met the requirements of
Amex Rule 18 by complying with all
applicable laws in effect in Bermuda, in
which it is incorporated, and providing
written notice of withdrawal to Amex.
The Issuer’s application relates solely
to the withdrawal of the Security from
listing on Amex, and shall not affect its
continued listing on NYSE or its
obligation to be registered under Section
12(b) of the Act.3
Any interested person may, on or
before December 15, 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 1–32657 or;
U.S.C. 78l(d).
CFR 240.12d2–2(d).
3 15 U.S.C. 781(b).
Paper Comments
• Send paper comments in triplicate
to Jonathan G. Katz, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–9303.
All submissions should refer to File
Number 1–32657. 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.4
Jonathan G. Katz,
Secretary.
[FR Doc. E5–6663 Filed 11–28–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–52823; File No. SR–CBOE–
2005–90]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing of a
Proposed Rule Change To Adopt a
Simple Auction Liaison System To
Auction Qualifying Marketable Orders
for Potential Price Improvement
November 22, 2005.
Pursuant to section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on October
26, 2005, the Chicago Board Options
Exchange, Incorporated (‘‘CBOE’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
1 15
U.S.C. 78l(b).
5 17 CFR 200.30–3(a)(1).
VerDate Aug<31>2005
20:13 Nov 28, 2005
Jkt 208001
4 17
2 17
4 15
1 15
PO 00000
Frm 00107
Fmt 4703
CFR 200.30–3(a)(1).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
Sfmt 4703
71565
E:\FR\FM\29NON1.SGM
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Agencies
[Federal Register Volume 70, Number 228 (Tuesday, November 29, 2005)]
[Notices]
[Pages 71564-71565]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-6662]
=======================================================================
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SECURITIES AND EXCHANGE COMMISSION
[File No. 1-31816]
Issuer Delisting; Notice of Application of Centennial Specialty
Foods Corporation To Withdraw Its Common Stock, $.0001 Par Value, From
Listing and Registration on the Boston Stock Exchange, Inc.
November 22, 2005.
On November 4, 2005, Centennial Specialty Foods Corporation, 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, $.0001 par
value (``Security''), from listing and registration on the Boston Stock
Exchange, Inc. (``BSE'').
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78l(d).
\2\ 17 CFR 240.12d2-2(d).
---------------------------------------------------------------------------
On November 1, 2004, the Board of Directors (``Board'') of the
Issuer approved resolutions on November 1, 2005 to withdraw the
Security from listing on BSE. The Issuer stated that the following
reason factored into the Board's decision to withdraw the Security from
BSE: (1) The Issuer was recently delisted from the Nasdaq Stock Market,
and as a result, BSE suspended trading in the Security on October 26,
2005; (2) the Issuer does not believe it will be able to comply with
BSE's requirement to have an audit committee composed of at least three
independent board members; and (3) in order to reduce costs, the Issuer
expects to terminate its obligations to file reports with the
Commission or otherwise be subjected to the Act through filing of Form
15 with the Commission.
The Issuer stated in its application that it has complied with Rule
12d-2-2(d) under the Act \3\ by complying with all applicable laws in
the State of Delaware, the state in which the Issuer is incorporated,
and by providing BSE with the required documents governing the
withdrawal of securities from listing and registration on BSE. The
Issuer's
[[Page 71565]]
application relates solely to the withdrawal of the Security from
listing on BSE and shall not affect its obligation to be registered
under Section 12(b) of the Act.\4\
---------------------------------------------------------------------------
\3\ See id.
\4\ 15 U.S.C. 78l(b).
---------------------------------------------------------------------------
Any interested person may, on or before December 15, 2005 comment
on the facts bearing upon whether the application has been made in
accordance with the rules of BSE, 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
Send an e-mail to rule-comments@sec.gov. Please include
the File Number 1-31816 or;
Paper Comments
Send paper comments in triplicate to Jonathan G. Katz,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-9303.
All submissions should refer to File Number 1-31816. 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.
---------------------------------------------------------------------------
\5\ 17 CFR 200.30-3(a)(1).
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\5\
Jonathan G. Katz,
Secretary.
[FR Doc. E5-6662 Filed 11-28-05; 8:45 am]
BILLING CODE 8010-01-P