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Gold/Mining/Energy : Tusk Energy (TKE) -- Ignore unavailable to you. Want to Upgrade?

To: saif who wrote (354)	4/28/1998 12:59:00 PM
From: Flea	Respond to of 1207

Here's SW version... Loon Energy Inc - Shareholders rights plan Loon Energy Inc LEY Shares issued 3442874 1998-04-27 close $0.55 Tuesday Apr 28 1998 Mr. Tom Field reports The board of directors has approved a shareholder rights plan, which is effective immediately. The shareholders of the company will be asked to approve the shareholder rights plan at the annual and special meeting of shareholders to be held June 25, 1998. The plan will terminate if not confirmed by a majority of the votes cast by shareholders at the meeting. The plan has been adopted in order to provide Loon's board of directors and shareholders sufficient time to assess and evaluate any takeover bid or acquisition proposal. The plan has not been adopted in response to, or in anticipation of, any takeover bid or acquisition proposal. The rights which now form part of each outstanding common share and which will trade with the common shares and not be exercisable until the separation time, will entitle shareholders, in certain circumstances, including the event where a person acquires 20 per cent or more of the outstanding common shares, other than through a permitted bid, to acquire Loon common shares at half of the current market price. The plan provides that a permitted bid is a takeover bid made to all shareholders for outstanding shares of Loon, which must be outstanding for at least 60 days.