[Federal Register Volume 60, Number 17 (Thursday, January 26, 1995)]
[Notices]
[Page 5230]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-1915]
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SECURITIES AND EXCHANGE COMMISSION
Issuer Delisting; Notice of Application To Withdraw From Listing
and Registration; (Beta Well Service Inc., Common Stock, No Par Value)
File No. 1-11670
January 20, 1995.
Beta Well Service Inc. (``Company'') has filed an application with
the Securities and Exchange Commission (``Commission''), pursuant to
Section 12(d) of the Securities Exchange Act of 1934 (``Act'') and Rule
12d2-2(d) promulgated thereunder, to withdraw the above specified
security (``Security'') from listing and registration on the American
Stock Exchange, Inc. (``Amex'').
The reasons alleged for striking the Security from listing and
registration include the following:
According to the Company, the Company received a letter dated
October 11, 1994, from the Exchange stating that it was considering
delisting the Security because it believed that the Company had
violated the Exchange's listing agreement and disclosure policies.
After the Company submitted its responses to the Exchange by letters
dated October 24, 1994 and November 1, 1994, the Exchange sent a letter
to the Company dated November 23, 1994, stating that the Exchange had
decided to delist the Security. Although the Company initially elected
to appeal the Exchange's decision to delist the Security to the
Exchange's Board of Governors, the Company has decided to settle
matters by removing the Security from listing on the Exchange. The
Company is now of the position that in view of the Impasses between the
Exchange and the Company and the large expenditures of money and
management time that would be required before a final resolution of the
matters at issue could be obtained, it is in the best interest of both
the Company and its shareholders that matters be settled by delisting
the Security from the Exchange.
The Exchange has also agreed that it would be in the best interest
of the Exchange and the investing public to resolve this issue between
the Company and the Exchange in this manner.
Any interested person may, on or before February 10, 1995, submit
by letter to the Secretary of the Securities and Exchange Commission,
450 Fifth Street, N.W., Washington, D.C. 20549, facts bearing upon
whether the application has been made in accordance with the rules of
the Amex and what terms, if any, should be imposed by the Commission
for the protection of investors. 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.
Jonathan G. Katz,
Secretary.
[FR Doc. 95-1915 Filed 1-25-95; 8:45 am]
BILLING CODE 8010-01-M
