[Federal Register Volume 63, Number 239 (Monday, December 14, 1998)]
[Notices]
[Pages 68808-68809]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-33074]


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SECURITIES AND EXCHANGE COMMISSION


Issuer Delisting; Notice of Application To Withdraw From Listing 
and Registration (Sport-Haley, Inc., Common Stock, No Par Value; 
Warrants To Purchase Common Stock) File No. 1-12888

December 8, 1998.
    Sport-Haley, 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 
securities (collectively the ``Securities'') from listing and 
registration on the Pacific Exchange, Inc. (``PCX'' or ``Exchange'').
    The reasons cited in the application for withdrawing the Securities 
from listing and registration include the following:
    The Common Stock, No Par Value, of the Company has been listed for 
trading on the PCX since the Company's initial public offering on 
August 5, 1994. The Company's Warrants to Purchase Common Stock were 
listed for trading on the PCX from April 5, 1994, until September 20, 
1994, when the Company exercised its option to redeem the Warrants.
    From April 5, 1994, until December 14, 1994, the Company's Common 
Stock was quoted on the National Association of Securities Dealers 
Automated Quotations (``Nasdaq'') SmallCap Market and since December 
14, 1994, the Company's Common Stock has been quoted on the Nasdaq 
National Market System. The Company's Warrants were also listed on the 
Nasdaq SmallCap Market from April 5, 1994 until September 20, 1994, 
when they were redeemed.
    The Board of Directors of the Company determined to voluntarily 
withdraw the Securities from listing and registration on the Exchange. 
In accordance with PCX Rule 3.4(b), the Company filed with the Exchange 
a copy of the resolutions adopted by the Board of Directors authorizing 
the voluntary withdrawal from listing and a letter setting forth the 
reasons for the proposed withdrawal and the facts in support thereof. 
If making the decision to withdraw the Securities, the Board of 
Directors was provided with four monthly reports of the trading volume 
which showed two or less transactions of 200 shares or less per month. 
The Board of Directors considered the extremely limited trading which 
occurs on the Exchange and the expense of the

[[Page 68809]]

listing, as compared to the substantially greater volume of trading 
which occurs on the Nasdaq National Market System and the expense of 
the qualification. In view of the limited trading activity on the 
Exchange, the Board of Directors determined that any advantages of 
maintaining the listing did not justify the expense of remaining listed 
on the PCX.
    By letter dated October 7, 1998, the Exchange informed the Company 
that its Equity Listings Committee had approved the Company's request 
to be removed from listing and registration.
    This application relates solely to the voluntary withdrawal from 
listing of the Company's Securities from the PCX. The Company intends 
to continue its qualification and listing of the Securities on the 
Nasdaq National Market System and will continue to file reports under 
the Act, as amended.
    Any interested person may, on or before December 30, 1998, 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 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. 98-33074 Filed 12-11-98; 8:45 am]
BILLING CODE 8010-01-M