Aris Industries, Inc., Bene Io, Inc., Commodore Separation Technologies, Inc., Food Integrated Technologies, Inc., Gap Instrument Corp., Skysat Communications Network Corp., and Vicon Fiber Optics Corp.; Order of Suspension of Trading, 37860-37861 [2010-16000]

Download as PDF mstockstill on DSKH9S0YB1PROD with NOTICES 37860 Federal Register / Vol. 75, No. 125 / Wednesday, June 30, 2010 / Notices issued by a Fund in nominee name, or otherwise, on behalf of a beneficial owner, the Fund: (a) Will request that the financial intermediary, or its agent, forward the 19(a) Notice to all beneficial owners of the Fund’s shares held through such financial intermediary; (b) will provide, in a timely manner, to the financial intermediary, or its agent, enough copies of the 19(a) Notice assembled in the form and at the place that the financial intermediary, or its agent, reasonably requests to facilitate the financial intermediary’s sending of the 19(a) Notice to each beneficial owner of the Fund’s shares; and (c) upon the request of any financial intermediary, or its agent, that receives copies of the 19(a) Notice, will pay the financial intermediary, or its agent, the reasonable expenses of sending the 19(a) Notice to such beneficial owners. V. Additional Board Determinations for Funds Whose Shares Trade at a Premium: If: A. A Fund’s common shares have traded on the exchange that they primarily trade on at the time in question at an average premium to NAV equal to or greater than 10%, as determined on the basis of the average of the discount or premium to NAV of the Fund’s common shares as of the close of each trading day over a 12-week rolling period (each such 12-week rolling period ending on the last trading day of each week); and B. The Fund’s annualized distribution rate for such 12-week rolling period, expressed as a percentage of NAV as of the ending date of such 12-week rolling period, is greater than the Fund’s average annual total return in relation to the change in NAV over the 2-year period ending on the last day of such 12-week rolling period; then: 1. At the earlier of the next regularly scheduled meeting or within four months of the last day of such 12-week rolling period, the Board including a majority of the Independent Directors: (a) Will request and evaluate, and the Investment Adviser will furnish, such information as may be reasonably necessary to make an informed determination of whether the Plan should be continued or continued after amendment; (b) Will determine whether continuation, or continuation after amendment, of the Plan is consistent with the Fund’s investment objective(s) and policies and in the best interests of the Fund and its shareholders, after considering the information in condition V.B.1.(a) above; including, without limitation: (1) Whether the Plan is accomplishing its purpose(s); VerDate Mar<15>2010 16:53 Jun 29, 2010 Jkt 220001 (2) The reasonably foreseeable material effects of the Plan on the Fund’s long-term total return in relation to the market price and NAV of the Fund’s common shares; and (3) The Fund’s current distribution rate, as described in condition V.B above, compared with the Fund’s average annual taxable income or total return over the 2-year period, as described in condition V.B, or such longer period as the Board deems appropriate; and (c) Based upon that determination, will approve or disapprove the continuation, or continuation after amendment, of the Plan; and 2. The Board will record the information considered by it, including its consideration of the factors listed in condition V.B.1.(b) above, and the basis for its approval or disapproval of the continuation, or continuation after amendment, of the Plan in its meeting minutes, which must be made and preserved for a period of not less than six years from the date of such meeting, the first two years in an easily accessible place. VI. Public Offerings: A Fund will not make a public offering of the Fund’s common shares other than: A. A rights offering below NAV to holders of the Fund’s common shares; B. An offering in connection with a dividend reinvestment plan, merger, consolidation, acquisition, spin-off or reorganization of the Fund; or C. An offering other than an offering described in conditions VI.A and VI.B above, provided that, with respect to such other offering: 1. The Fund’s annualized distribution rate for the six months ending on the last day of the month ended immediately prior to the most recent distribution record date,4 expressed as a percentage of NAV per share as of such date, is no more than 1 percentage point greater than the Fund’s average annual total return for the 5-year period ending on such date; 5 and 2. The transmittal letter accompanying any registration statement filed with the Commission in connection with such offering discloses that the Fund has received an order under section 19(b) to permit it to make periodic distributions of long-term capital gains with respect to its common stock as frequently as twelve times each year, and as frequently as distributions 4 If the Fund has been in operation fewer than six months, the measured period will begin immediately following the Fund’s first public offering. 5 If the Fund has been in operation fewer than five years, the measured period will begin immediately following the Fund’s first public offering. PO 00000 Frm 00112 Fmt 4703 Sfmt 4703 are specified by or determined in accordance with the terms of any outstanding preferred stock that such Fund may issue. VII. Amendments to Rule 19b–1: The requested order will expire on the effective date of any amendments to rule 19b–1 that provide relief permitting certain closed-end investment companies to make periodic distributions of long-term capital gains with respect to their outstanding common stock as frequently as twelve times each year. For the Commission, by the Division of Investment Management, under delegated authority. Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–15887 Filed 6–29–10; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] Aris Industries, Inc., Bene Io, Inc., Commodore Separation Technologies, Inc., Food Integrated Technologies, Inc., Gap Instrument Corp., Skysat Communications Network Corp., and Vicon Fiber Optics Corp.; Order of Suspension of Trading June 28, 2010. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Aris Industries, Inc. because it has not filed any periodic reports since the period ended June 30, 2004. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Bene Io, Inc. because it has not filed any periodic reports since the period ended September 30, 2000. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Commodore Separation Technologies, Inc. because it has not filed any periodic reports since the period ended June 30, 2004. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Food Integrated Technologies, Inc. because it has not filed any periodic reports since the period ended January 31, 1997. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Gap E:\FR\FM\30JNN1.SGM 30JNN1 Federal Register / Vol. 75, No. 125 / Wednesday, June 30, 2010 / Notices Instrument Corp. because it has not filed any periodic reports since the period ended September 30, 1997. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Skysat Communications Network Corp. because it has not filed any periodic reports since the period ended September 30, 1997. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Vicon Fiber Optics Corp. because it has not filed any periodic reports since the period ended September 30, 2003. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed companies. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the securities of the abovelisted companies is suspended for the period from 9:30 a.m. EDT on June 28, 2010, through 11:59 p.m. EDT on July 12, 2010. By the Commission. Elizabeth M. Murphy, Secretary. [FR Doc. 2010–16000 Filed 6–28–10; 11:15 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION office of the Exchange, and at the Commission’s Public Reference Room. [Release No. 34–62358; File No. SR–NSX– 2010–06] II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Implement an Equity Rights Program June 22, 2010. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’) 1 and Rule 19b–4 thereunder,2 notice is hereby given that on June 15, 2010, National Stock Exchange, Inc. (‘‘NSX®’’ 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 prepared by the Exchange. The Commission is publishing this notice to solicit comment on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change NSX is proposing to implement an equity rights program pursuant to which warrants may be purchased that would allow equity in the Exchange’s parent holding company to be acquired based on, among other things, a participating ETP Holder’s payment of an initial purchase price for the warrants and achievement of certain liquidity adding volume thresholds on the Exchange over a six month measuring period. The text of the proposed rule change is available on the Exchange’s Web site at https://www.nsx.com, at the principal Participating ETP holder’s liquidity adding ADV as % of total consolidated ADV mstockstill on DSKH9S0YB1PROD with NOTICES Tier Tier Tier Tier Tier 1: 2: 3: 4: 5: .............. .............. .............. .............. .............. > > > > > 15 25 30 35 40 basis points ....................................................................... and < 30 basis points ....................................................... and < 35 basis points ....................................................... and < 40 basis points ....................................................... basis points ....................................................................... For purposes of the program, the term ‘‘Liquidity Adding ADV’’ means, with respect to a participating ETP Holder, the number of shares such ETP Holder has executed as a liquidity provider on average per trading day (excluding partial trading days) across all tapes on NSX for the measuring period in which the executions occurred. The term ‘‘Total Consolidated ADV’’ means 1 15 U.S.C. 78s(b)(1). VerDate Mar<15>2010 16:53 Jun 29, 2010 PO 00000 In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose With this rule change, the Exchange is proposing to implement an equity rights program pursuant to which warrants for common stock of the Exchange’s parent holding company, NSX Holdings, Inc. (‘‘Holdings’’), will be issued to each ETP Holder who participates in the program in exchange for such ETP Holder participant’s initial cash capital contribution of $250,000, and with such warrants being exercisable upon the achievement by the participating ETP Holder of the following liquidity adding volume thresholds (measured as a percentage of total consolidated average daily volume) on the Exchange during a six month measurement period commencing June 15, 2010: Participating ETP holder’s total exercisable warrants 4,575 19,575 22,075 24,575 24,575 plus participation in bonus pool. average daily volume reported by all exchanges and trade reporting facilities to the consolidated transaction reporting plans for Tape A, B and C securities. For purposes of calculating an ETP Holder’s Liquidity Adding ADV as a percentage of Total Consolidated ADV over the measuring period, the 10 days during the measuring period constituting that ETP Holder’s lowest ratio of liquidity 2 17 Jkt 220001 37861 adding volume to total consolidated volume will be excluded. In addition, the number of shares executed by ETP Holders under common ownership and control may be aggregated for purposes of calculating average daily volumes. Total Bonus Pool shares shall equal the number of warrant holders achieving Tier 5 multiplied by 10,000. Each warrant holder eligible for participation in the Bonus Pool shall be CFR 240.19b–4. Frm 00113 Fmt 4703 Sfmt 4703 E:\FR\FM\30JNN1.SGM 30JNN1

Agencies

[Federal Register Volume 75, Number 125 (Wednesday, June 30, 2010)]
[Notices]
[Pages 37860-37861]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-16000]


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

SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


Aris Industries, Inc., Bene Io, Inc., Commodore Separation 
Technologies, Inc., Food Integrated Technologies, Inc., Gap Instrument 
Corp., Skysat Communications Network Corp., and Vicon Fiber Optics 
Corp.; Order of Suspension of Trading

June 28, 2010.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Aris Industries, Inc. because it has not filed any periodic reports 
since the period ended June 30, 2004.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Bene Io, Inc. because it has not filed any periodic reports since the 
period ended September 30, 2000.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Commodore Separation Technologies, Inc. because it has not filed any 
periodic reports since the period ended June 30, 2004.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Food Integrated Technologies, Inc. because it has not filed any 
periodic reports since the period ended January 31, 1997.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Gap

[[Page 37861]]

Instrument Corp. because it has not filed any periodic reports since 
the period ended September 30, 1997.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Skysat Communications Network Corp. because it has not filed any 
periodic reports since the period ended September 30, 1997.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Vicon Fiber Optics Corp. because it has not filed any periodic reports 
since the period ended September 30, 2003.
    The Commission is of the opinion that the public interest and the 
protection of investors require a suspension of trading in the 
securities of the above-listed companies. Therefore, it is ordered, 
pursuant to Section 12(k) of the Securities Exchange Act of 1934, that 
trading in the securities of the above-listed companies is suspended 
for the period from 9:30 a.m. EDT on June 28, 2010, through 11:59 p.m. 
EDT on July 12, 2010.

    By the Commission.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010-16000 Filed 6-28-10; 11:15 am]
BILLING CODE 8010-01-P
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