[Federal Register Volume 69, Number 148 (Tuesday, August 3, 2004)]
[Notices]
[Pages 46600-46601]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-17647]


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SECURITIES AND EXCHANGE COMMISSION


Issuer Delisting; Notice of Application of VI Group, plc, To 
Withdraw Its American Depositary Shares Evidenced by American 
Depositary Receipts (Each American Depositary Share Evidencing Ordinary 
Shares), 0.50 Pence Par Value Per Registrant, From Listing and 
Registration on the American Stock Exchange LLC File No. 1-31469

July 28, 2004.
    On July 23, 2004, VI Group, plc, an England and Wales 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 american depositary shares evidenced by 
american depositary receipts (each american depositary share evidencing 
ordinary shares), 0.50 pence par value per registrant (``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 Board of Directors (``Board'') of the Issuer unanimously 
approved a resolution on April 21, 2004 to withdraw the Issuer's 
Security from listing on the Amex. The Board states that the reasons it 
is taking such action are as follows: Although the Security has been 
listed since October 2002, the number of United States shareholders who 
had bought the Security was disappointingly small, and the costs of 
maintaining the listing, including the Commission's registration cost, 
were significant. The Issuer states that Security has been listed on 
the Amex for over a year and despite considerable efforts to generate 
liquidity in the Security, the trading volume and number of 
shareholders remains exceptionally low. In addition, the costs of 
regulatory compliance have escalated dramatically. The Issuer also 
states that the Security will continue to be traded in the United 
States on the over-the-counter-market. Further, the ordinary shares of 
the Issuer will continue to be traded on the London Stock Exchanges' 
Alternative Investment Market.
    The Issuer stated in its application that it has met the 
requirements of Amex Rule l8 by complying with all applicable laws in 
effect in England and Wales, 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 Issuer's application relates solely to the withdrawal of the 
Security 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 August 20, 2004, comment on 
the 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. 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 1-31469 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 1-31469. This file 
number should be included on the subject line if e-mail is used. To 
help us process and

[[Page 46601]]

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. 04-17647 Filed 8-2-04; 8:45 am]
BILLING CODE 8010-01-P