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Gold/Mining/Energy : Star Data Systems Inc. (STY,T) -- Ignore unavailable to you. Want to Upgrade?

To: Praxis who wrote (123)	11/18/1998 10:11:00 AM
From: Technopeasant	Read Replies (1) \| Respond to of 267

Looks like something is happening: TORONTO, Nov. 18 /CNW/ - Star Data Systems Inc. (TSE: STY) announced today that, with the unanimous support of its Board of Directors, it has engaged the investment banking firm of First Marathon Securities Limited to review, generate and consider strategic alternatives to maximize value on behalf of all shareholders. The financial advisers have been authorized to initiate discussions with interested third parties concerning potential transactions, including business combinations and/or sales of all or part of the Company. The efforts of the Company's financial advisers will be supervised and reported upon to the Company's Board by the Special Committee of the Board comprised of Peter de Auer (Chairman), George Cope, Phillip Doherty and Helen Sinclair. The Special Committee was established to address the recent announcement by Kensington Capital Partners Limited concerning the mandate given to Kensington by certain of the Company's shareholders to seek ways of maximizing the value of their shares. Peter de Auer, Chairman of the Special Committee, stated, ''It is premature to speculate as to the results of this process, and no decision has been made on any specific course of action at this time. There can be no assurance, in fact, that any transaction will result from this process.'' Alan Hutton, President and Chief Executive Officer of the Company, stated: ''I welcome this clarity of direction from the Board. We will continue to maintain our high standards of customer service and business development.''