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OMB APPROVAL
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- ------ OMB Number: 3235-0287
FORM 4 Expires: April 30, 1998
- ------ Estimated average burden
hours per response .... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
/ / Check this box if no
longer subject to Filed pursuant to Section 16(a) of the Securities
Section 16. Form 4 Exchange Act of 1934, Section 17(a) of the
or Form 5 obligations Public Utility Holding Company Act of 1935
may continue. See or Section 30(f) of the Investment Company
Instruction 1(b). Act of 1940
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1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Persons to
S.R. ONE, LIMITED RIBI IMMUNOCHEM RESEARCH, INC. (RIBI) Issuer (Check all applicable)
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(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- ---
BAY COLONY EXECUTIVE PARK Number of Reporting Month/Year Officer (give Other (Specify
565 E. SWEDESFORD ROAD Person (Voluntary) DECEMBER 1997 ---- title --- below)
- --------------------------------------------- 23-1729901 ------------------- below)
(Street) 5. If Amendment, 7. Individual or Joint Group Filing
SUITE 315 Date of Original (Check Applicable)
WAYNE PA 19087 (Month/Year) Form filed by One Reporting Person
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X Form filed by more than One
---Reporting Person
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(City) (State) (Zip) TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security 2. Trans- 3. Transac- 4. Securities Acquired (A) 5. Amount of Se- 6. Owner- 7. Nature
(Instr. 3) action tion or Disposed of (D) curities Benefi- ship of In-
Date Code (Instr. 3, 4 and 5) cially Owned at Form: direct
(Instr. 8) End of Month Direct Benefi-
(Month/ (Instr. 3 and 4) (D) or cial
Day/ --------------------------------------- Indirect Owner-
Year) Code V Amount (A) or Price (I) ship
(D) (Instr. 4) (Instr.
4)
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COMMON STOCK 12/16/97 S 10,000 D $4.0000 D
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COMMON STOCK 12/17/97 S 32,000 D $4.0000 D
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COMMON STOCK 12/18/97 S 10,000 D $4.0000 D
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COMMON STOCK 12/19/97 S 2,000 D $4.0000 693,608 D
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COMMON STOCK 1,103,448 I BY
CORPORATION
(1)
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
*If the form filed by more than one reporting person, see Instruction for (b)(v).
(Print or Type Responses) SEC 1474 (7/96)
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FORM 4 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative 2. Conver- 3. Trans- 4. Trans- 5. Number of 6. Date Exer- 7. Title and Amount 8. Price
Security sion or action action Derivative cisable and of Underlying of
(Instr. 3) Exercise Date Code Securities Ac- Expiration Securities Deriv-
Price of (Month/ (Instr. 8) quired (A) or Date (Instr. 3 and 4) ative
Deriv- Day/ Disposed of (D) (Month/Day/ Secur-
ative Year) (Instr. 3, 4, Year) ity
Security and 5) (Instr. 5)
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Date Expira- Amount or
-------------------------- Exer- tion Title Number of
Code V (A) (D) cisable Date Shares
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NON-QUALIFIED STOCK OPTION (2) COMMON (2)
(RIGHT TO BUY) 12/31/96 12/31/98 STOCK 551,724
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WARRANT TO PURCHASE COMMON COMMON
SHARES $5.0000 12/31/96 12/31/99 STOCK 500,000
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1. Title of Derivative 9. Number of 10. Ownership 11. Nature of
Security Derivative Form of Indirect
(Instr. 3) Securities Derivative Beneficial
Beneficially Security: Ownership
Owned at End Direct (D) (Instr. 4)
of Month or Indirect (I)
(Instr. 4) (Instr. 4)
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(2) BY CORPORATION
551,724 I (1)
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BY CORPORATION
500,000 I (1)
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Explanation of Responses:
(1) Owned of record by SmithKline Beecham Biologicals Manufacturing S.A. ("SBBM"), an affiliate of Reporting Person, both of which
are under common control as subsidiaries of SmithKline Beecham Corporation.
(2) 551,724 shares (based on the Subsequent Market Price for the Common Stock at December 31, 1996) which SBBM has right to acquire
by exercise of a stock option (expiring December 31, 1998). The stock option granted by the Issuer gives SBBM the right to
acquire up to $2,000,000 in Common Stock at Subsequent Market Price defined in the underlying agreement as the average of the
mean of the high and low prices for the Common Stock as reported on the NASDAQ National Market tier of the NASDAQ Stock Market
for each of the five (5) consecutive trading days ending two (2) days prior to the closing date for the option exercise.
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**Intentional misstatements or omissions of facts
constitute Federal Criminal Violations. /s/ DONALD F. PARMAN JANUARY 9, 1998
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ------------------------------- ---------------
**Signature of Reporting Person Date
BY: DONALD F. PARMAN, SECRETARY
FOR: S.R. ONE, LIMITED
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information
contained in this form are not required to respond unless the Page 2
form displays the currently valid OMD Number. SEC 1474 (7/96)
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