[Federal Register Volume 59, Number 128 (Wednesday, July 6, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-16242]
[[Page Unknown]]
[Federal Register: July 6, 1994]
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SECURITIES AND EXCHANGE COMMISSION
Issuer Delisting; Application To Withdraw From Listing and
Registration; (Designatronics Incorporated, Common Stock, $.04 Par
Value) File No. 1-8543
June 29, 1994.
Designatronics Incorporated (``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 from listing and registration on the American Stock Exchange,
Inc. (``Amex'').
The reasons alleged in the application for withdrawing this
security from listing and registration include the following:
According to the Company, its Board of Directors (the ``Board'')
unanimously approved resolutions on June 2, 1994, to withdraw the
Company's Common Stock from listing on the Amex and, instead, list such
Common Stock on the National Association of Securities Dealers
Automated Quotations/National Market Systems (``NASDAQ/NMS'').
According to the Company, the decision of the Board followed a lengthy
study of the matter, and was based upon the belief that listing of the
Common Stock on NASDAQ/NMS will be more beneficial to its stockholders
than the present listing on the Amex because:
(1) The Company believes that the NASDAQ/NMS system of competing
market-makers will result in increased visibility and sponsorship for
the Common Stock than is presently the case with the single specialist
on the Amex;
(2) The Company believes that the NASDAQ/NMS system will offer the
Company's shareholders more liquidity than is presently available on
the Amex and less volatility in quoted prices per share when trading
volume is slight;
(3) The Company believes that the NASD/NMS system will offer the
opportunity for the Company to secure its own group of market makers
and expand the capital base available for trading in the Common Stock;
and
(4) The Company believes that the firms making a market in the
Company's Common Stock on the NASD/NMS system will also be inclined to
issue research reports concerning the Company, thereby increasing the
number of firms providing institutional research and advisory reports.
Any interested person may, on or before July 21, 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 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. 94-16242 Filed 7-5-94; 8:45 am]
BILLING CODE 8010-01-M
