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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden) -- Ignore unavailable to you. Want to Upgrade?

To: Timelord who wrote (450)	1/16/1998 5:05:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Sands takeover bid for IPC complete Friday Jan 16 1998 Ms Sophia Shane reports The Sands Petroleum AB takeover bid for IPC is now complete. Sands has acquired approximately 95.5% of the outstanding common shares of IPC in addition to the common shares already held by Sands. New Sands series B shares, represented by Global Depositary Shares, have been issued to IPC shareholders on January 15 1998 on the basis of one GDS for every 1.15 IPC shares. The GDS's will commence trading on the TSE on January 19 1998 under the symbol SPB and on NASDAQ on January 20 1998 under the symbol SANPY. Correspondingly, IPC shares will be voluntarily delisted. IPC has been informed that Sands intends to commence, on January 19 1998, a compulsory acquisition process as provided for by the Canada Business Corporations Act to acquire the remaining outstanding common shares of IPC. A notice will be issued to all remaining IPC shareholders that have not yet tendered their shares. Remaining shareholders will have a 20 day period in which they may tender their share certificates. At the end of this period any remaining IPC shares will be automatically canceled and Sands GDS's issued in exchange