[Federal Register Volume 69, Number 112 (Thursday, June 10, 2004)]
[Notices]
[Pages 32631-32632]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-13168]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 1-13195]


Issuer Delisting; Notice of Application of Industrial 
Distribution Group, Inc. To Withdraw Its Ordinary Shares, $.01 Par 
Value, and Series A Participating Cumulative Preferred Stock Purchase 
Rights From Listing and Registration on the New York Stock Exchange, 
Inc.

June 4, 2004.
    On May 26, 2004, Industrial Distribution Group, Inc., a Delaware 
corporation (``Issuer''), 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 Ordinary Shares, $.01 par value, and 
Series A Participating Cumulative Preferred Stock Purchase Rights 
(``Securities''), from listing and registration on the New York Stock 
Exchange, Inc. (``NYSE'' 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 Board of Directors (``Board'') of the Issuer approved a 
resolution on April 28, 2004 to withdraw the Issuer's Securities from 
listing on the NYSE and to list the Securities on the NASDAQ National 
Market (``NASDAQ''). The Board believes that the change in the profile 
of the public ownership of the Issuer's Securities makes the NASDAQ a 
more appropriate market for the Issuer's Securities. The Board also 
believes that recent internal developments at the NYSE could adversely 
affect the Issuer and the listing and trading of its Securities. The 
application states that this includes uncertainty about the continued 
listing criteria the NYSE will apply in the future. In addition, the 
Issuer expects that it and its shareholders will derive positive 
benefits from listing on the NASDAQ. The Issuer believes such expected 
benefits include the potential for several broker-dealers to make a 
market in the Securities, which in its opinion, should result in 
enhanced liquidity, better price discovery, and additional sources of 
information for investors seeking to trade in the Securities. The 
Issuer believes that, as a result of the dynamics of the NASDAQ market, 
the differential between bid and ask prices in trading transactions 
will be improved, to the benefits of investors.
    The Issuer stated in its application that it has complied with the 
NYSE's rules governing an issuer's voluntary withdrawal of a security 
from listing

[[Page 32632]]

and registration. The Issuer's application relates solely to the 
Securities' withdrawal from listing on the NYSE 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 June 29, 2004, comment on 
the facts bearing upon whether the application has been made in 
accordance with the rules of the NYSE and what terms, if any, should be 
imposed by the Commission for the protection of investors. All comment 
letters may be submitted by either of the following methods:
    Electronic Comments:
     Send an e-mail to [email protected]. Please include 
the File Number 1-13195 or; Paper Comments:
     Send paper comments in triplicate to Jonathan G. Katz, 
Secretary, Securities and Exchange Commission, 450 Fifth Street, NW., 
Washington, DC 20549-0609.
All submissions should refer to File Number 1-13195. This file number 
should be included on the subject line if e-mail is used. To help us 
process and review your comments more efficiently, please use only one 
method. The Commission will post all comments on the Commission's 
Internet Web site (http://www.sec.gov/rules/delist.shtml). Comments are 
also available for public inspection and copying in the Commission's 
Public Reference Room, 450 Fifth Street, NW., Washington, DC 20549. All 
comments received will be posted without change; we do not edit 
personal identifying information from submissions. You should submit 
only information that you wish to make available publicly.
    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. 04-13168 Filed 6-9-04; 8:45 am]
BILLING CODE 8010-01-U