Document ID: SEC-2005-0240-0001
Agency: sec
Document Type: Notice
Title: Applications, hearings, determinations, etc.: Polydex Pharmaceuticals Ltd.
Posted Date: 2005-11-15T05:00Z

[Federal Register: November 15, 2005 (Volume 70, Number 219)]
[Notices]               
[Page 69364-69365]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr15no05-94]                         

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SECURITIES AND EXCHANGE COMMISSION

[File No. 1-08366]

 
Issuer Delisting; Notice of Application of Polydex 
Pharmaceuticals Limited To Withdraw Its Common Stock, $.0167 Par Value, 
From Listing and Registration on the Boston Stock Exchange, Inc.

November 8, 2005.
    October 26, 2005, Polydex Pharmaceuticals Limited, a company 
organized under the laws of the Commonwealth of the Bahamas 
(``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, $.0167 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 July 20, 2005, the Board of Directors (``Board'') of the Issuer 
approved resolutions to withdraw the Security from listing and 
registration on BSE. The Issuer stated that the following reasons 
factored into the Board's decision to delist the Security from BSE. 
First, the Security is traded on the Nasdaq SmallCap Market 
(``Nasdaq'') in addition to being listed on BSE. The Board believes 
that consolidation of trading of the Security on one market would be in 
the best interest of, and eliminate confusion among, the Issuer's 
shareholders. The Board believes that the continued listing of the 
Security on BSE does not offer any significant benefits to the Issuer's 
shareholders, and that such continued listing is not worth the 
additional cost to the Issuer with respect to fees, expenses and 
employee time in connection therewith. Second, the Issuer received a 
letter from BSE on March 23, 2005, and in response, decided to withdraw 
the Security from listing and registration on BSE.
    The Issuer stated in its application that it has complied with 
applicable rules of BSE by complying with all applicable laws in the 
Commonwealth of the Bahamas, the jurisdiction in

[[Page 69365]]

which the Issuer is incorporated, and by filing the required documents 
governing the withdrawal of securities from listing and registration on 
BSE.
    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 December 5, 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 rule-comments@sec.gov. Please include 

the File Number 1-08366; or

Paper Comments

     Send paper comments in triplicate to Jonathan G. Katz, 
Secretary, Securities and Exchange Commission, 450 Fifth Street, NW., 
Washington, DC 20549-9303. All submissions should refer to File Number 
1-08366. 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. 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. E5-6265 Filed 11-14-05; 8:45 am]

BILLING CODE 8010-01-P