NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.
UNITED STATES |
OMB APPROVAL |
OMB Number: |
3235-0080 |
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March 31, 2018 |
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SECURITIES AND EXCHANGE COMMISSION |
Washington, D.C. 20549 |
FORM 25 |
NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION
UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.
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Commission File Number |
000-26422 |
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(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)
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Address: |
350 South Main Street, Suite 307 |
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Doylestown |
PENNSYLVANIA |
18901 |
Telephone number: |
| 215 340-4699 |
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(Address, including zip code, and telephone number, including area code, of Issuer's
principal executive offices)
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Common Stock |
(Description of class of securities)
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Please place an X in the box to designate the rule provision relied upon to strike
the class of securities from listing and registration:
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Pursuant to the requirements fo the Securities Exchange Act of 1934,
NASDAQ Stock Market LLC
certifies that it has reasonable grounds to believe that it
meets all of the requirements for filing the Form 25 and has caused this notification to be
signed on its behalf by the undersigned duly authorized person.
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2017-07-21 |
By |
Amy Horton |
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Hearings Advisor |
Date |
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Name |
Title |
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1 |
Form 25 and attached Notice will be considered compliance with the provisions of
17 CFR 240.19d-1 as applicable. See General Instructions.
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Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
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Delisting Determination,The Nasdaq Stock Market, LLC,
July 21, 2017, Sears Canada Inc. The Nasdaq
Stock Market, Inc. (the Exchange) has determined to remove
from listing the common stock of Sears Canada Inc.
(the Company), effective at the opening of the trading
session on July 31, 2017. Based on review of information
provided by the Company, Nasdaq Staff determined that the
Company no longer qualified for listing on the Exchange
pursuant to Listing Rule 5550(b)(1).
The Company was notified of the Staffs determination on
November 16, 2016. The Company appealed the determination
to a Hearing Panel. Upon review of the information provided
by the Company, the Panel issued a decision dated
January 18, 2017, granting the Company continued listing
pursuant to an exception that included several milestones
that the Company was required to meet, towards the toal
of regaining compliance with Listing Rule 5550(b)(1).
However, the Company was
unable to meet the exception milestones as required.
On May 3, 2017, the Panel issued a final delisting
determination and notified the Company that trading in the Companys
securities would be suspended on May 5, 2017.
The Company did not request a review of the Panels decision
by the Nasdaq Listing and Hearing Review Council. The
Listing Council did not call the matter for review.
The Panels Determination to delist the Company
became final on June 19, 2017.