[Federal Register Volume 63, Number 61 (Tuesday, March 31, 1998)]
[Notices]
[Page 15467]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-8316]
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SECURITIES AND EXCHANGE COMMISSION
Issuer Delisting; Notice of Application To Withdraw From Listing
and Registration; (Columbus Energy Corp., Common Stock, Par Value
$0.20) File No. 1-9872
March 25, 1998.
Columbus Energy Corp. (``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 Pacific
Exchange, Inc. (``Exchange'' or ``PCX'').
The reasons cited in the application for withdrawing the Security
from listing and registration include the following:
The Security also is listed for trading on the American Stock
Exchange (``Amex'') where it trades under the symbol EGY.
The Company has represented that the volume of trading in the
Security conducted on the PCX has always been low compared to trading
in the Security effected elsewhere. The Company has further represented
that in one or more recent months there was no trading in the Security
conducted on the PCX.
The Company stated that it has approximately 470 Security holders
of record. Of those, about 20 Security holders reside in California and
hold a small portion of the outstanding Security (12,000 shares out of
4,257,715 shares outstanding).
In the opinion of the Company's management, maintaining the
Security's listing on the Exchange is no longer cost effective in light
of the annual listing fee and any future additional listing fee
charges.
At its regular meeting held on February 12, 1998, the Company's
Board of Directors authorized the Company's management to proceed with
the voluntary delisting of the Security from the Exchange.
In its letter dated March 4, 1998, the Exchange informed the
Company that it would not object to the withdrawal of the Security from
listing and registration of the Exchange.
The Company has represented that the Security will continue to
trade on the Amex.
Any interested person may, on or before April 15, 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. 98-8316 Filed 3-30-98; 8:45 am]
BILLING CODE 8010-01-M
