[Federal Register Volume 59, Number 159 (Thursday, August 18, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-20312]
[[Page Unknown]]
[Federal Register: August 18, 1994]
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SECURITIES AND EXCHANGE COMMISSION
Issuer Delisting; Notice of Application To Withdraw From Listing
and Registration (MEDIQ/PRN Life Support Services, Inc., 11\1/8\%
Senior Secured Notes Due 1999); File No. 1-11286
August 12, 1994.
MEDIQ/PRN Life Support Services, 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 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 adopted a resolution on July 19, 1994, to withdraw the
Company's securities from listing on the Amex. The decision of the
Board was based upon the following reasons:
(1) The trading of the Securities on the Exchange has been very
limited since listing with most transactions conducted through several
market makers in the over-the-counter market;
(2) The holders of the Securities will continue to receive annual
audited financial reports from the Company under terms of the Indenture
(within 120 days after each fiscal year), without the additional burden
and costs of compliance by the Company with the proxy and reporting
requirements of the Act, including the filing of reports of Forms 10-K
and 10-Q;
(3) Procedural requirements which restrict communications between
the Company and the holders of the Securities can be eliminated,
providing increased flexibility for the Company in the management of
its affairs and enabling the Company and the holders of the Securities
to communicate on a basis more comparable to that of the Company's
other lenders;
(4) As of July 14, 1994, there were only 22 holders of record of
the Securities, and, pursuant to information available to the Company
from public and other sources, the Company believes there are less than
100 beneficial owners of the Securities;
(5) Continued listing on the Exchange and registration under the
Act imposes additional costs and expenses on the Company; and
(6) The Company is not obligated under the Indenture (pursuant to
which the Securities were listed) to list the Securities on the
Exchange or any other national securities exchange or trading market.
Any interested person may, on or before August 26, 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. 94-20312 Filed 8-17-94; 8:45 am]
BILLING CODE 8010-01-M
