The Listing Committee of The BSX has determined that BFCL is not in compliance with Regulation 6.34 of Chapter 6 of Section IIA of the Listing Regulations. Regulation 6.34 states that an issuer must carry out, directly or indirectly, a sufficient level of operations or have tangible assets of sufficient value and/or intangible assets for which a sufficient potential value can be demonstrated to the Exchange to warrant the continued listing on The BSX of its securities.
BFCL was given formal notice by The BSX on October 3, 1997 of the proposed cancellation of the listing of the shares for non compliance with the Listing Regulations. The company was given until October 31, 1997, to prove to The BSX that it has sufficient operation on assets but BFCL has taken no action to rectify the situation.
The BFCL preference shares were approved for listing on The BSX on October 6, 1993.
For further information, please contact Robin H. McPhee at 441-292-7212 or at info@bsx.com