[Federal Register Volume 69, Number 157 (Monday, August 16, 2004)]
[Notices]
[Pages 50404-50405]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-18602]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 1-15064]


Issuer Delisting; Notice of Application of GB Holdings, Inc. To 
Withdraw Its Common Stock, $.01 Par Value, From Listing and 
Registration on the American Stock Exchange LLC

August 10, 2004.
    On June 30, 2004, GB Holdings, 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 common stock, $.01 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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    On June 23, 2004, the Board of Directors (``Board'') of the Issuer 
determined to withdraw the Issuer's Security from listing on the Amex. 
The Board concluded that the existing listing has not resulted in an 
active trading market which, the Board believes, results from several 
factors, including the fact that: (i) There are only 10 holders of 
record of the Security; (ii) in the past 30 days on average, 
approximately 14,500 shares of the Security were traded per day on the 
Amex; and (iii) approximately 83.1% of the outstanding Security is held 
by two different groups of stockholders, including approximately 77.5% 
which is owned by affiliates of the Issuer. The Board states that it 
believes, for the

[[Page 50405]]

foregoing reasons, that the continued listing of the Security does not 
serve either the Issuer's interests or the interests of the 
stockholders. The Issuer states that on June 30, 2004, a special 
stockholders meeting was held with the stockholders of the Issuer in 
which the stockholders approved a transaction that included the 
delisting of the Security from the Amex. Furthermore, the Issuer states 
that it had been advised by representatives of the holders of 
approximately 77% of the Security, that they do not object to the 
Issuer's plan to delist the Security from the Amex. In addition, the 
Issuer states that it is seeking to develop a trading market in the 
over-the-counter market on the Pink Sheets.
    The Issuer stated in its application that it has met the 
requirements of Amex Rule l8 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 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. 781(b).
    \4\ 15 U.S.C. 781(g).
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    Any interested person may, on or before August 31, 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 1-15064;

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 1-15064. 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. 04-18602 Filed 8-13-04; 8:45 am]
BILLING CODE 8010-01-P