[Federal Register Volume 68, Number 210 (Thursday, October 30, 2003)]
[Notices]
[Page 61840]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-27341]


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SECURITIES AND EXCHANGE COMMISSION


Issuer Delisting; Notice of Application To Withdraw From Listing 
and Registration on the American Stock Exchange LLC (Capital Pacific 
Holdings, Inc., $.10 par value) File No. 1-09911

October 24, 2003.
    Capital Pacific Holdings, 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, $.10 par value 
(``Security''), from listing and registration on the American Stock 
Exchange LLC (``Amex'' or ``Exchange'').
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    \1\ 15 U.S.C. 78l(d).
    \2\ 17 CFR 240.12d2-2(d).
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    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 a 
resolution on September 23, 2003 to withdraw the Issuer's Security from 
listing on the Amex. The Board states that it considered the following 
reasons in its decision to withdraw the Security from listing and 
registration on the Amex: the additional financial burden of complying 
with the Sarbanes-Oxley Act and related regulations, listing standards 
and accounting pronouncements. In particular, the Board was informed by 
management that the additional financial burden of complying with the 
Sarbanes-Oxley Act and related regulations, listing standards and 
accounting pronouncements exceeds an average of approximately $300,000 
per annum. In addition, the Board concluded that the Issuer or its 
shareholders do not benefit materially from listing the Issuer's 
Security on the Exchange for various reasons, including the small 
public float, lack of analyst coverage and low trading volume. The 
Issuer states that it is seeking to identify a market marker to 
facilitate trading in the Security notwithstanding the deregistration.
    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\ and shall not affect its obligation to be 
registered under Section 12(g) of the Act.\4\
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    \3\ 15 U.S.C. 78l(b).
    \4\ 15 U.S.C. 78l(g).
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    Any interested person may, on or before November 14, 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\
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    \5\ 17 CFR 200.30-3(a)(1).
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Jonathan G. Katz,
Secretary.
[FR Doc. 03-27341 Filed 10-29-03; 8:45 am]
BILLING CODE 8010-01-P