[Federal Register Volume 69, Number 37 (Wednesday, February 25, 2004)]
[Notices]
[Page 8708]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-4059]


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SECURITIES AND EXCHANGE COMMISSION


Issuer Delisting; Notice of Application of CNE Group, Inc. to 
Withdraw its Common Stock, $.00001 Par Value, from Listing and 
Registration on the Pacific Exchange, Inc.; File No. 1-09224

February 19, 2004.
    CNE Group, 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, $.00001 par value, (``Security''), from listing and 
registration on the Pacific Exchange, Inc. (``PCX'' or ``Exchange'').
    The Board of Directors (``Board'') of the Issuer unanimously 
adopted resolutions on January 20, 2004 to withdraw its Security from 
listing on the Exchange. In making its decision to delist its Security 
from the PCX the Issuer states that: (i) Its current and anticipated 
net tangible assets/net worth, as defined by the Exchange, and the 
minimum share bid price of its Security do not satisfy the Exchange's 
requirements and; (ii) the Issuer's Security is currently traded on the 
American Stock Exchange LLC (``Amex'') and the Issuer expects the 
Security to continue to trade on the Amex after it is removed from 
listing and registration on the PCX.
    The Issuer stated in its application that it has complied with the 
PCX rules that govern the removal of securities from listing and 
registration on the Exchange. The Issuer's application relates solely 
to the withdrawal of the Security from listing on the PCX and shall not 
affect its continued listing on the Amex nor its obligation to be 
registered under section 12(b) of the Act.\3\
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    \1\ 15 U.S.C. 78l(d).
    \2\ 17 CFR 240.12d2-2(d).
    \3\ 15 U.S.C. 78l(b).
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    Any interested person may, on or before March 12, 2004, 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 PCX and what terms, if any, should be imposed by the Commission for 
the protection of investors. All comment letters should refer to File 
No. 1-09224. 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.\4\
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    \4\ 17 CFR 200.30-3(a)(1).
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Jonathan G. Katz,
Secretary.
[FR Doc. 04-4059 Filed 2-24-04; 8:45 am]
BILLING CODE 8010-01-P