Document ID: SEC-2006-0266-0001
Agency: sec
Document Type: Notice
Title: Applications, hearings, determinations, etc.: SouthFirst Bancshares, Inc.
Posted Date: 2006-03-02T05:00Z

[Federal Register: March 2, 2006 (Volume 71, Number 41)]
[Notices]               
[Page 10728-10729]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr02mr06-102]                         

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SECURITIES AND EXCHANGE COMMISSION

[File No. 1-13640]

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

February 24, 2006.
    On February 21, 2006, SouthFirst Bancshares, 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'').
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    \1\ 15 U.S.C. 78l(d).
    \2\ 17 CFR 240.12d2-2(d).
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    On January 18, 2006, the Board of Directors (``Board'') of the 
Issuer approved resolutions to withdraw the Security from listing and 
registration on Amex. The Issuer stated that the following reasons 
factored into the Board's decision to withdraw the Security from Amex: 
(a) The Issuer has a limited number of stockholders of record; (b) the 
costs associated with maintaining the Issuer's status as an Amex listed 
company are outweighed by the benefits to the Issuer and its 
stockholders; (c) the limited volume of trading of the Security has 
resulted in the Security not providing a practical source of capital 
for the Issuer or liquidity for its stockholders; and (d) few analysts 
currently cover the Issuer and the Security on Amex. The Issuer stated 
that it has obtained a market maker for trading the Security in the OTC 
Bulletin Board (``OTCBB''). The Issuer expects trading on OTCBB to be 
available on the first business day following the cessation of trading 
of the Security on Amex.
    The Issuer stated in its application that it has met the 
requirements of Amex Rule 18 by complying with all applicable laws in 
effect in Delaware, the State in which it is incorporated, and 
providing written notice of withdrawal to Amex.
    The application relates solely to the withdrawal of the Security 
from listing on 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 March 22, 2006, comment on 
the facts bearing upon whether the application has been made in 
accordance with the rules of 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

     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 

File Number 1-13640 or;

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris, 
Secretary, Securities and Exchange Commission,

[[Page 10729]]

100 F Street, NE., Washington, DC 20549-1090.
    All submissions should refer to File Number 1-13640. 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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Nancy M. Morris,
Secretary.
[FR Doc. 06-1953 Filed 3-1-06; 8:45 am]

BILLING CODE 8010-01-M