Applications, hearings, determinations, etc.: Rigel Energy Corp.,

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Federal Register: February 25, 1998 (Volume 63, Number 37)NoticesPage 9619-9620From the Federal Register Online via GPO Access [wais.access.gpo.gov]

DOCID:fr25fe98-117

SECURITIES AND EXCHANGE COMMISSION

Issuer Delisting; Notice of Application to Withdraw From Listing and Registration; (Rigel Energy Corporation, Common Shares, No Par Value) File No. 1-10750

February 19, 1998.

Rigel Energy Corporation (``Company'') has filedan application with the Securities and Exchange Commission (``Commission''), pursuant to Section 12(d) of the Securities Exchange Act of 1934 (``Act'') and Rule 12d2-2(d) promulgated thereunder, to withdraw the above specified security (``Security'') from listing and registration on the American Stock Exchange, Inc. (``Amex'' or ``Exchange'').

The reasons cited in the application for withdrawing the Security from listing and registration include the following:

The Security also has been listed for trading on the Toronto Stock Exchange and the Montreal Exchange since June, 1991. The Company has represented that it will maintain such listings so that holders of the Security are provided with accessible and liquid markets.

The Company has complied with Amex Rule 18 by filing with the Exchange a certified copy of the resolutions adopted by the Company's Board of Director's authorizing the withdrawal of the Security from listing and registration on the Amex, and by setting forth in detail to the Exchange the reasons and facts supporting the proposed withdrawal. In making the decision to withdraw the Security from listing on the Exchange, the Company considered the volume of trading in the Security transacted on the Exchange (less than one percent of the aggregate trading volume in the Security since 1995); the relative liquidity provided by the Amex versus other securities exchanges; the trading pattern of shareholders based in the United States; and the costs associated with maintaining a multiple listing of the Security.

By letter dated June 3, 1997, the Exchange informed the Company that it would not object to the withdrawal of the Security from listing and registration on the Exchange.

By reason of Section 12(g) of the Act and the rules thereunder, the Company shall continue to file reports under Section 13 of the Act with the Commission.

Any interested person may, on or before March 12, 1998, submit by letter to the Secretary of the Securities and

[Page 9620]Exchange Commission, 450 Fifth Street, N.W., Washington, D.C. 20549, facts bearing upon whether the application has been made in accordance with the rules of the Exchange and what terms, if any, should be imposed by the Commission for the protection of investors. 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. Jonathan G. Katz, Secretary.

FR Doc. 98-4712Filed2-24-98; 8:45 amBILLING CODE 8010-01-M

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