[Federal Register Volume 68, Number 128 (Thursday, July 3, 2003)]
[Notices]
[Page 39991]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-16813]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[File No. 1-14137]


Issuer Delisting; Notice of Application To Withdraw From Listing 
and Registration on the American Stock Exchange LLC (HLM Design, Inc., 
Common Stock, $.001 par value)

June 27, 2003.
    HLM Design, Inc., a Delaware corporation (``Issuer''), has filed an 
application with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 12(d) of the Securities Exchange 
Act of 1934 (``Act'') \1\ and Rule 12d2-2(d) thereunder,\2\ to withdraw 
its Common Stock, $.001 par value (``Security''), from listing and 
registration on the American Stock Exchange LLC (``Amex'' or 
``Exchange'').
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78l(d).
    \2\ 17 CFR 240.12d2-2(d).
---------------------------------------------------------------------------

    The Issuer stated in its application that it has met the 
requirements of Amex Rule 18 by complying with all applicable laws in 
the State of Delaware, in which it is incorporated, and with the Amex's 
rules governing an issuer's voluntary withdrawal of a security from 
listing and registration.
    The Board of Directors (``Board'') of the Issuer approved 
resolutions on June 20, 2003 to withdraw the Issuer's Security from 
listing on the Amex. The Board of the Issuer states that it is taking 
such action for the following reasons: (i) The current trading market 
for the Issuer's Security does not provide liquidity for the Issuer's 
stockholders or realistic potential for share appreciation and 
otherwise limits the Issuer's ability to engage in transactions based 
on the Issuer's true enterprise value; and (ii) ongoing audit and legal 
fees, stock exchange fees, the costs of investor relations, press 
releases and annual reports, director and officer liability insurance 
premiums attributable to the Issuer's public company status, and 
potential additional costs and related management time and attention 
associated with compliance with the Sarbanes-Oxley Act and related 
rulemaking from the Amex and the Commission represent, collectively, a 
substantial annual burden to the Company.
    The Issuer's application relates solely to the withdrawal of the 
Securities from listing on the Amex and from registration under section 
12(b) of the Act \3\ shall not affect its obligation to be registered 
under section 12(g) of the Act.\4\
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78l(b).
    \4\ 15 U.S.C. 78l(g).
---------------------------------------------------------------------------

    Any interested person may, on or before July 18, 2003, 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 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.\5\
---------------------------------------------------------------------------

    \5\ 17 CFR 200.30-3(a)(1).

Jonathan G. Katz,
Secretary.
[FR Doc. 03-16813 Filed 7-2-03; 8:45 am]
BILLING CODE 8010-01-P