[Federal Register Volume 59, Number 93 (Monday, May 16, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-11796]
[[Page Unknown]]
[Federal Register: May 16, 1994]
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SECURITIES AND EXCHANGE COMMISSION
Issuer Delisting; Notice of Application To Withdraw From Listing
and Registration; (Sunstates Corporation, Common Stock, $0.33\1/3\ Par
Value; $3.75 Cumulative Preferred Stock, $25 Par Value) File No. 1-5300
May 10, 1994.
Sunstates Corporation (``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 from listing and registration on the American Stock
Exchange, Inc. (``Amex'').
The reasons alleged in the application for withdrawing these
securities from listing and registration include the following:
According to the Company, its Board of Directors (the ``Board'')
unanimously approved a resolution on January 20, 1994, to withdraw the
Company's Common Stock and Preferred Stock from listing on the Amex
and, instead, list such Common Stock and Preferred Stock on the
National Association of Securities Dealers Automated Quotations/
National Market Systems (``NASDAQ/NMS'').
The Company believes that the NASDAQ/NMS system of competing market
makers will result in increased visibility and sponsorship for its
Common Stock and $3.75 Cumulative Preferred Stock than is presently the
case with the single specialist on the Amex.
The Company believes that the NASDAQ/NMS system will offer the
Company's shareholders a broader market, greater liquidity and less
volatility in quoted prices per share than is presently available on
the Amex.
The Company believes that the firms making a market in the
Company's Common Stock and $3.75 Cumulative Preferred Stock on the
NASDAQ/NMS system will also be inclined to issue research reports
concerning the Company, thereby increasing the number of firms
providing research and advisory reports.
Any interested person may, on or before June 1, 1994, submit by
letter to the Secretary of the Securities and Exchange Commission, 450
Fifth Street, NW., Washington, DC 20549, facts bearing upon whether the
application has been made in accordance with the rules of the exchanges
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 and 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. 94-11796 Filed 5-13-94; 8:45 am]
BILLING CODE 8010-01-M
