Applications, hearings, determinations, etc.: Public utility holding company filings,

[Federal Register: January 29, 1999 (Volume 64, Number 19)]

[Notices]

[Page 4728]

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[DOCID:fr29ja99-143]

SECURITIES AND EXCHANGE COMMISSION

[Release No. 35-26968]

Filings Under the Public Utility Holding Company Act of 1935, as Amended (``Act'')

January 22, 1999.

Notice is hereby given that the following filing(s) has/have been made with the Commission pursuant to provisions of the Act and rules promulgated under the Act. All interested persons are referred to the application(s) and/or declaration(s) for complete statements of the proposed transaction(s) summarized below. The application(s) and/or declaration(s) and any amendments is/are available for public inspection through the Commission's Office of Public Reference.

Interested persons wishing to comment or request a hearing on the application(s) and/or declaration(s) should submit their views in writing by February 16, 1999, to the Secretary, Securities and Exchange Commission, Washington, D.C. 20549, and serve a copy on the relevant applicant(s) and/or declarants(s) at the address(es) specified below. Proof of service (by affidavit or, in case of an attorney at law, by certificate) should be filedwith the request. Any request for hearing should identify specifically the issues of fact or law that are disputed. A person who so requests will be notified of any hearing, if ordered, and will receive a copy of any notice or order issued in the matter. After February 16, 1999, the application(s) and/or declaration(s), as filedor as amended, may be granted and/or permitted to become effective.

Unitil Corporation (70-9429)

Until Corporation (``Unitil''), 6 Liberty Lane West, Hampton, New Hampshire 03833, a registered holding company, has fileda declaration under sections 6(a) and 7 of the Act and rule 54 under the Act.

The Unitil board of directors has adopted the Unitil Corporation 1998 stock option plan (``Plan''). Unitil proposes to grant stock options (``Stock Options'') through March 1, 2004 under the Plan to certain employees and directors, for the purchase of up to 350,000 shares of Unitil common stock (``Common Stock''). In addition, Unitil proposes to issue and sell up to 350,000 shares of Common Stock through March 1, 2004 upon the exercise of Stock Options.

The purpose of the Plan is to provide an incentive to key employees and directors of Unitil and its affiliates who are in a position to contribute materially to the long-term success of Unitil and/or its affiliates, to increase their interest in the welfare of Unitil and its affiliates and to attract and retain employees and directors of outstanding ability. A committee (``Committee''), made up of Unitil board members, will administer the Plan. The Committee will have authority to interpret the Plan and to designate the recipients of the Stock Options.

Stock Options granted under the Plan will entitle the holders of those options to purchase up to the number of shares of Common Stock specified in the grant at a price established by the Committee. Under the Plan, Stock Options for shares constituting not more than five percent of the Common Stock may be issued in any one year.

For the Commission by the Division of Investment Management, under delegated authority. Margaret H. McFarland, Deputy Secretary.

[FR Doc. 99-2105Filed1-28-99; 8:45 am]

BILLING CODE 8010-01-M