[Federal Register Volume 64, Number 178 (Wednesday, September 15, 1999)]
[Notices]
[Page 50121]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-24035]
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SECURITIES AND EXCHANGE COMMISSION
Issuer Delisting; Notice of Application To Withdraw From Listing
and Registration; (Local Financial Corporation, Common Stock, $.01 Par
Value) File No. 1-13949
September 9, 1999.
Local Financial Corporation (``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 security
specified above (``Security'') from listing and registration on the
American Stock Exchange LLC (``Amex'' or ``Exchange'').
The reasons cited in the application for withdrawing the Security
from listing and registration on the Amex include the following:
The Security of the Company has been listed on the Amex since April
22, 1998. The Company now believes that it might realize a more diverse
ownership of its Security through the variety of market makers
available on the NASDAQ National Market (``Nasdaq'') than through the
auction system of the Exchange. On January 27, 1999, the company's
Board of Directors voted to authorize the filing of applications to
withdraw the Security from listing and registration on the Exchange and
to have the Security quoted on the Nasdaq. Shares of the Security
subsequently began trading on the Nasdaq on July 15, 1999.
The Company has complied with the rules of the Amex by filing with
the Exchange a certified copy of the resolutions adopted by the
Company's Board of Directors authorizing the withdrawal of its Security
from listing on the Amex and by setting forth in detail to the Exchange
the reasons for the proposed withdrawal, and the facts in support
thereof. In making the decision to withdraw its Security from listing
on the Amex, the Company wished to avoid the duplicative costs
associated with registering its Security for trading in two different
markets. The Amex has informed the Company that it has no objection to
the withdrawal of the Company's Security from listing and registration
on the Exchange.
The Company's application relates solely to the withdrawal of the
Security from listing and registration on the Amex and shall have no
effect upon the continued listing on the Amex of the Company's 11.0%
Senior Notes due September 8, 2004. By reason of Sections 12(b) and (g)
of the Act and the rules and regulations of the Commission thereunder,
the Company shall continue to be obligated to file reports under
Section 13 of the Act with the Commission.
Any interested person may, on or before September 30, 1999, submit
by letter to the Secretary of the Securities and Exchange Commission,
450 Fifth Street, NW, Washington, DC 20549-0609, facts bearing upon
whether the application has been made in accordance with the rules of
the Exchange 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. 99-24035 Filed 9-14-99; 8:45 am]
BILLING CODE 8010-01-M
