[Federal Register Volume 64, Number 43 (Friday, March 5, 1999)]
[Notices]
[Pages 10729-10730]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-5465]


=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 35-26981]


Filings Under the Public Utility Holding Company Act of 1935, as 
Amended (``Act'')

February 26, 1999.
    Notice is hereby given that the following filing(s) has/have been 
made

[[Page 10730]]

with the Commission pursuant to provisions of the Act and rules 
promulgated under the Act. All interested persons are referred to the 
applications(s) and/or declaration(s) for complete statements of the 
proposed transaction(s) summarized below. The application(s) and/or 
declaration(s) and any amendments is/are available for public 
inspection through the Commission's Office of Public Reference.
    Interested persons wishing to comment or request a hearing on the 
application(s) and/or declaration(s) should submit their views in 
writing by March 20, 1999, to the Secretary, Securities and Exchange 
Commission, Washington, DC 20549, and serve a copy on the relevant 
applicant(s) and/or declarants(s) at the address(es) specified below. 
Proof of service (by affidavit or, in case of an attorney at law, by 
certificate) should be filed with the request. Any request for hearing 
should identify specifically the issues of fact or law that are 
disputed. a person who so requests will be notified of any hearing, if 
ordered, and will receive a copy of any notice or order issued in the 
matter. After March 20, 1999, the application(s) and/or declaration(s), 
as filed or as amended, may be granted and/or permitted to become 
effective.

Cinergy Corp. (70-9445)

    Cinergy Corp. (``Cinergy''), 139 East Fourth Street, Cincinnati, 
Ohio 45202, a registered holding company, has filed a declaration under 
sections 6(a) and 7 of the Act and rule 54 under the Act.
    On December 12, 1999, Cinergy's board of directors adopted the 
Cinergy Corp. Sharesave Scheme, an employee savings plan (``Plan''), 
for employees of Cinergy Global Power Services Ltd. (``CGPS''), an 
indirect wholly owned subsidiary of Cinergy organized under the laws of 
the United Kingdom. Adoption of the Plan does not require shareholder 
approval. Cinergy proposes to issue and sell under the Plan up to 
75,000 shares of Cinergy common stock (``Common Stock'') to employees 
of CGPS through December 31, 2004.
    An employee may participate in the Plan by entering into a savings 
contract (``Savings Contract'') under which he or she would make 
monthly contributions into a savings account (``Savings Account'') for 
either a three or five year period (``Savings Period''). Each employee 
participating in the Plan would be granted a right, which may be 
exercised at the end of the Savings Period, to acquire shares of Common 
Stock using the funds accumulated in his or her Savings Account. The 
price at which the shares may be acquired by the employee would be set 
at a discount of up to twenty percent off the average high and low 
sales price for the Common Stock on a predetermined date preceding the 
execution by the employee of the Savings Contract.
    Participants are not required to exercise their right to acquire 
shares of Common Stock. If the Option Price is higher than the market 
value of the Common Stock on the Option maturity date, participants may 
withdraw the amounts accrued in their respective Savings Accounts to 
that date.
    A three-person committee, initially made up of two CGPS officers 
and one Cinergy officer, will administer the Plan, which will have a 
ten year duration. Cinergy intends to use authorized, unissued, as well 
as, previously issued shares of Common Stock acquired by Cinergy to 
provide the shares acquired through the Plan.
    Cinergy proposes to use proceeds from sales of Common Stock under 
the Plan for general corporate purposes.

    For the Commission by the Division of Investment Management, 
under delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 99-5465 Filed 3-4-99; 8:45 am]
BILLING CODE 8010-01-M