[Federal Register Volume 61, Number 136 (Monday, July 15, 1996)]
[Notices]
[Pages 36940-36941]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-17932]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Issuer Delisting; Notice of Application To Withdraw From Listing
and Registration (Laser Industries Limited, Ordinary Shares Par Value
NIS 0.00001); File No. 1-8201
July 9, 1996.
Laser Industries Limited (``Company''), a Company incorporated in
Israeli, 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 27, 1996, which authorized the Company's
officers, among other things, to withdraw the Security from listing on
the Amex and to apply for the quotation of the Security on the National
Association of Securities Dealers Automated Quotations National Market
System (``Nasdaq/NMS'').
The Company's Board of Directors believes that quotation on Nasdaq
will be more beneficial to the Company's shareholders than the present
listing on the Amex for the following reasons:
(a) The Nasdaq's system of multiple, competing market makers
provide the Company with increased visibility
[[Page 36941]]
within the financial community, resulting in increased awareness of the
Company's activities among investors;
(b) Nasdaq system will enable the Company to attract its own market
makers and to expand the capital base available for purchases of its
Security;
(c) Nasdaq system will, in the Company's opinion, stimulate
increased demand for its Security and result in greater liquidity for
the Company's shareholders;
(d) The firms making a market in the Security on Nasdaq will be
more likely to issue research reports with respect to the Company,
which will increase the availability of information about the Company
and increase its visibility to investors; and
(e) A significant number of the Company's competitors which are
publicly owned have one or more classes of common equity securities
which are quoted on Nasdaq, providing the Company's shareholders with a
comparable peer group against which to assess the trading performance
of the Security.
Any interested person may, on or before July 30, 1996 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
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. 96-17932 Filed 7-12-96; 8:45 am]
BILLING CODE 8010-01-M
