El Paso Tennessee Pipeline Co., a Delaware corporation (“Issuer”), has filed an 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) thereunder, to withdraw its 81/4% Cumulative Preferred Stock, Series A (“Security”), from listing and registration on the New York Stock Exchange, Inc. (“NYSE” or “Exchange”).
15 U.S.C. 78 l (d).
The Issuer stated in its application that it has met the requirements of the NYSE rules governing an issuer's voluntary withdrawal of a security from listing and registration.
The Board of Trustees (“Board”) of the Issuer approved a resolution on October 8, 2002 to withdraw the Issuer's Security from listing on the NYSE. In making its decision to withdraw the Issuer's Security from the Exchange, the Board notes that the Security is held by less than three hundred (300) persons. In addition, the board considered the low number of record holders, the erratic and thin trading of the securities, and the burden on the Issuer's resources due to the costs associated with maintaining the listing requirements for its Security.
The Issuer's application relates solely to the Security's withdrawal from listing on the NYSE and from registration under section 12(b) of the Act and shall not affect its obligation to be registered under section 12(g) of the Act.
15 U.S.C. 78 l (b).
15 U.S.C. 78 l (g).
Any interested person may, on or before November 8, 2002, submit by letter to the Secretary of the Securities and Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549-0609, facts bearing upon whether the application has been made in accordance with the rules of the NYSE 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.5
Jonathan G. Katz,
Secretary.
[FR Doc. 02-27151 Filed 10-23-02; 8:45 am]
BILLING CODE 8010-01-P