[Federal Register Volume 70, Number 87 (Friday, May 6, 2005)]
[Notices]
[Pages 24131-24132]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-2197]


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SECURITIES AND EXCHANGE COMMISSION


Issuer Delisting; Notice of Application of Top Image Systems Ltd. 
To Withdraw Its Ordinary Shares, .04 NIS Par Value, From Listing and 
Registration on the Boston Stock Exchange, Inc., File No. 1-14552

April 29, 2005
    On April 4, 2005, Top Image Systems Ltd., a company organized under 
the laws of the State of Israel (``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, .04 NIS 
par value (``Security''), from listing and registration on the Boston 
Stock Exchange, Inc. (``BSE'').
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    \1\ 15 U.S.C. 78l(d).
    \2\ 17 CFR 240.12d2-2(d).
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    On March 10, 2005, the Board of Directors (``Board'') of the Issuer 
approved a resolution to withdraw the Security from listing and 
registration on BSE. In making the decision to delist the Security from 
BSE, the Issuer stated that the following reason factored into its 
decision: (i) There has been no trading activity in the Security on BSE 
for a significant period of time; and (ii) remaining on BSE subjects 
the Issuer to the rules and regulations of the Exchange in addition to 
the rules and regulations of Nasdaq SmallCap Market (``Nasdaq''). In 
addition, the Issuer stated that the Security has been listed on both 
BSE and Nasdaq since 1996. However, there has been no trading activity 
on BSE since at least the beginning of 2002. The Issuer intends to 
maintain its listing of the Security on Nasdaq.
    The Issuer's application relates solely to withdrawal of the 
Security from listing on BSE 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 May 24, 2005, comment on 
the facts bearing upon whether the application has been made in 
accordance with the rules of BSE, 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

     Use the Commission's Internet comment form (http://www.sec.gov/rules/delist.shtml); or
     Send an e-mail to [email protected]. Please include 
the File Number 1-14552 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 1-14552. 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

[[Page 24132]]

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. 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.
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    \5\ 17 CFR 200.30-3(a)(1).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\5\
Jonathan G. Katz,
Secretary.
[FR Doc. E5-2197 Filed 5-5-05; 8:45 am]
BILLING CODE 8010-01-P