[Federal Register Volume 63, Number 239 (Monday, December 14, 1998)]
[Notices]
[Pages 68808-68809]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-33074]
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SECURITIES AND EXCHANGE COMMISSION
Issuer Delisting; Notice of Application To Withdraw From Listing
and Registration (Sport-Haley, Inc., Common Stock, No Par Value;
Warrants To Purchase Common Stock) File No. 1-12888
December 8, 1998.
Sport-Haley, 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
securities (collectively the ``Securities'') from listing and
registration on the Pacific Exchange, Inc. (``PCX'' or ``Exchange'').
The reasons cited in the application for withdrawing the Securities
from listing and registration include the following:
The Common Stock, No Par Value, of the Company has been listed for
trading on the PCX since the Company's initial public offering on
August 5, 1994. The Company's Warrants to Purchase Common Stock were
listed for trading on the PCX from April 5, 1994, until September 20,
1994, when the Company exercised its option to redeem the Warrants.
From April 5, 1994, until December 14, 1994, the Company's Common
Stock was quoted on the National Association of Securities Dealers
Automated Quotations (``Nasdaq'') SmallCap Market and since December
14, 1994, the Company's Common Stock has been quoted on the Nasdaq
National Market System. The Company's Warrants were also listed on the
Nasdaq SmallCap Market from April 5, 1994 until September 20, 1994,
when they were redeemed.
The Board of Directors of the Company determined to voluntarily
withdraw the Securities from listing and registration on the Exchange.
In accordance with PCX Rule 3.4(b), the Company filed with the Exchange
a copy of the resolutions adopted by the Board of Directors authorizing
the voluntary withdrawal from listing and a letter setting forth the
reasons for the proposed withdrawal and the facts in support thereof.
If making the decision to withdraw the Securities, the Board of
Directors was provided with four monthly reports of the trading volume
which showed two or less transactions of 200 shares or less per month.
The Board of Directors considered the extremely limited trading which
occurs on the Exchange and the expense of the
[[Page 68809]]
listing, as compared to the substantially greater volume of trading
which occurs on the Nasdaq National Market System and the expense of
the qualification. In view of the limited trading activity on the
Exchange, the Board of Directors determined that any advantages of
maintaining the listing did not justify the expense of remaining listed
on the PCX.
By letter dated October 7, 1998, the Exchange informed the Company
that its Equity Listings Committee had approved the Company's request
to be removed from listing and registration.
This application relates solely to the voluntary withdrawal from
listing of the Company's Securities from the PCX. The Company intends
to continue its qualification and listing of the Securities on the
Nasdaq National Market System and will continue to file reports under
the Act, as amended.
Any interested person may, on or before December 30, 1998, 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 Exchange 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. 98-33074 Filed 12-11-98; 8:45 am]
BILLING CODE 8010-01-M
