[Federal Register Volume 61, Number 119 (Wednesday, June 19, 1996)]
[Notices]
[Page 31197]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-15449]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Issuer Delisting; Notice of Application to Withdraw From Listing
and Registration (Medicore, Inc., Common Stock, $.01 Par Value); File
No. 1-9167
June 12, 1996.
Medicore, 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 in the application for withdrawing the Security
from listing and registration include the following:
According to the Company, its Board of Directors unanimously
approved resolutions on May 6, 1996 to withdraw the Security from
listing on the Amex and instead, to list the Security on the National
Association of Securities Dealers Automated Quotations National Market
System (``Nasdaq/NMS'').
The decision of the Board followed a thorough study of the matter
and was based upon the belief that listing the Security on the Nasdaq/
NMS will be more beneficial to the Company's stockholders than the
present listing on the Amex because:
The Board of Directors has determined as per the resolutions dated
May 6, 1996 of which this withdrawal statement is a part, to withdraw
its security from listing on the Amex to provide its Security with what
the Board believes to be a broader base of trading and greater
liquidity, all to the benefit of its shareholders and investors.
The Company has had good relations with the Amex and its staff, but
believes in its evaluation of its trading market over the years and
discussions with other investment banking firms, that it is in the best
interest of the Company and its shareholders to withdraw its listing of
its Security from the Amex and list the Security on the Nasdaq National
Market. It is the opinion of the Board that the Company will be
provided with greater visibility and that its Security with a broader
base of trading and more liquidity for shareholders and investors in
the decentralized market place of the Nasdaq National Market.
Over the years, the Company has held discussions with the staff of
the Amex and the specialist dealing with the Company's Security as to
the depth of trading, volume, block transactions and pricing, resulting
in ultimately a new specialist being appointed for trading the
Company's Security. The Board, after full evaluation, has determined
that the Nasdaq National Market, a major trading market with very
significant national and international corporations having listed their
securities for trading on the Nasdaq National Market, will provide a
more liquid, efficient and broader market for the Company's securities.
Further, the Board, based on discussions with other broker/dealers over
the years, is of the opinion that the Company will have more broker-
dealers involved with it and its securities, with greater exposure in
the financial community and such will, to the extent necessary,
facilitate further capital formation. All of the above factors will
certainly be beneficial to the Company's shareholders and investors.
Any interested person may, on or before July 3, 1996 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 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. 96-15449 Filed 6-18-96; 8:45 am]
BILLING CODE 8010-01-M
