[Federal Register Volume 62, Number 143 (Friday, July 25, 1997)]
[Notices]
[Page 40127]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-19626]
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SECURITIES AND EXCHANGE COMMISSION
Issuer Delisting; Notice of Application To Withdraw From Listing
and Registration; (Reynolds Metals Company, Common Stock, Without Par
Value; Preferred Stock Purchase Rights) File No. 1-1430
July 21, 1997.
Reynolds Metals Company (``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 (``Securities'') from listing and registration on the
Chicago Stock Exchange, Inc. (``CHX'').
The reasons cited in the application for withdrawing the Securities
from listing and registration on the CHX include the following: The
Company originally listed its Securities on the CHX in 1994 in
connection with its public offering of 11 million shares of its 7%
PRIDES, Convertible Preferred Stock (the ``PRIDES'') and the listing of
the PRIDES on the CHX. On December 31, 1996, the Company redeemed all
outstanding PRIDES shares, with each outstanding PRIDES share being
converted into .82 of a share of Company common stock.
The Company's securities have been listed on the New York Stock
Exchange, Inc. (``NYSE'') since the 1930s and the vast majority of
trades of Company securities take place on the NYSE. In the Company's
view, the amount of trading that takes place on the CHX does not
warrant the cost of maintaining the listing.
According to the CHX, the Company has complied with the rules of
the CHX with respect to its application to withdraw its Securities from
listing.
Any interested person may, on or before August 11, 1997, 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. 97-19626 Filed 7-24-97; 8:45 am]
BILLING CODE 8010-01-M
