0000876661-21-001112.txt : 20210723 0000876661-21-001112.hdr.sgml : 20210723 20210723141334 ACCESSION NUMBER: 0000876661-21-001112 CONFORMED SUBMISSION TYPE: 25-NSE PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20210723 DATE AS OF CHANGE: 20210723 EFFECTIVENESS DATE: 20210723 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MEDLEY MANAGEMENT INC. CENTRAL INDEX KEY: 0001611110 STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 25-NSE SEC ACT: 1934 Act SEC FILE NUMBER: 001-36638 FILM NUMBER: 211110401 BUSINESS ADDRESS: STREET 1: 100 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2127590777 MAIL ADDRESS: STREET 1: 100 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10017 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: NEW YORK STOCK EXCHANGE LLC CENTRAL INDEX KEY: 0000876661 IRS NUMBER: 000000000 STATE OF INCORPORATION: NY FILING VALUES: FORM TYPE: 25-NSE BUSINESS ADDRESS: STREET 1: 11 WALL STREET CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-656-2060 MAIL ADDRESS: STREET 1: 11 WALL STREET CITY: NEW YORK STATE: NY ZIP: 10005 FORMER COMPANY: FORMER CONFORMED NAME: NEW YORK STOCK EXCHANGE INC DATE OF NAME CHANGE: 19910628 25-NSE 1 primary_doc.xml X0203 0000876661 NEW YORK STOCK EXCHANGE LLC 0001611110 MEDLEY MANAGEMENT INC. 001-36638

100 Park Avenue New York NY NEW YORK 10152

212-759-0777 Class A Common Stock 17 CFR 240.12d2-2(b) Christopher Rances Senior Analyst 2021-07-23 EX-99.25 2 ruleprovisionnotice.htm NOTIFICATION OF THE REMOVAL FROM LISTING AND REGISTRATION OF THE STATED SECURITIES The New York Stock Exchange ('NYSE' or the 'Exchange') hereby notifies the Securities and Exchange Commission (the 'Commission') of its intention to remove the entire class of the Class A Common Stock, $0.01 par value per share (the 'Common Stock') of Medley Management Inc. (the 'Company') from listing and registration on the Exchange at the opening of business on August 3, 2021, pursuant to the provisions of Rule 12d2-2(b) because, in the opinion of the Exchange, the Common Stock is no longer suitable for continued listing and trading on the Exchange. The Exchange reached its decision to initiate delisting proceedings pursuant to Section 802.01D of the Listed Company Manual (the 'Manual') in light of the uncertainty as to the ultimate effect of the Medley LLC's (the 'LLC') bankruptcy reorganization process on the value of the securities of both the Company and the LLC. The LLC had filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware on March 7, 2021. Pursuant to the Chapter 11 plan of reorganization and wind-down that was filed on July 6, 2021, the Company will receive no recovery on its majority ownership interest in the LLC and it is also unclear what, if any, recovery will apply to the LLC securities. The Exchange also noted the provision of Section 802.01D that applies when an issuer has sold or otherwise disposed of its principal operating assets or has ceased to be an operating company or has discontinued a substantial portion of its operations or business. Separately, the Exchange noted that both the Company and the LLC are late on their SEC filings pursuant to Listed Company Manual Section 802.01E. Pursuant to the above authorization, the Company was notified by letter on July 7, 2021 of the Exchange's intention to initiate delisting proceedings. Further, on July 7, 2021, a press release announcing the initiation of delisting proceedings and the suspension of trading in the Common Stock was issued and posted on the Exchange's website. The Company had a right to appeal to a Committee of the Board of Directors of the Exchange (the 'Committee') the determination to delist the Common Stock, provided that it filed a written request for such a review with the Secretary of the Exchange within ten business days of receiving notice of the delisting determination. The Company did not file such request within the specified time period. Consequently, all conditions precedent under SEC Rule 12d2-2(b) to the filing of this application have been satisfied.