[Federal Register Volume 60, Number 181 (Tuesday, September 19, 1995)]
[Notices]
[Pages 48577-48578]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-23165]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[File No. 1-12212]
Issuer Delisting; Notice of Application to Withdraw From Listing
and Registration; (CVD Financial Corporation, Common Stock, $.01 Par
Value, Variable Rate Bonds Due 2008)
September 13, 1995.
CVD 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 above specified
securities (``Securities'') from listing and registration on the
American Stock Exchange, Inc. (``Amex'' or ``Exchange'').
The reasons alleged in the application for withdrawing the
Securities from listing and registration include the following:
According to the Company, it received a letter dated May 26, 1995,
from the Exchange stating that it was considering delisting the
Securities. The Exchange believed the Company's financial condition was
substantially impaired, and it had failed to comply with the Exchange's
listing agreement by not holding an annual meeting of shareholders
since being listed in August 1993. After the Company submitted its
response to the Exchange by a letter dated June 28, 1995 and met with
Amex officials on July 6, 1995, the Exchange sent a letter to the
Company dated July 13, 1995, stating that the Exchange had decided to
delist the Securities. Although the Company initially elected to appeal
the Exchange's decision to delist the Securities to the Exchange's
Board of Governors, the Company has decided to settle matters by
voluntarily removing the Securities from listing on the Exchange. It is
now the Company's position, in view of the impasse between the Exchange
and the Company and the large expenditures of money and management time
that would be required before a final resolution of the matters at
issue could be obtained, that it is in the best interest of both the
Company and its shareholders that matters be settled by voluntarily
delisting the Securities from the Exchange.
The Exchange also has agreed that it would be in the best interest
of the
[[Page 48578]]
Exchange and the investing public to resolve this issue between the
Company and the Exchange in this manner.
Any interested person may, on or before October 4, 1995, 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 Amex
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. 95-23165 Filed 9-18-95; 8:45 am]
BILLING CODE 8010-01-M
