UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES OF BENEFICIAL OWNERSHIP
1. Name and Address of Reporting Person
Queensway Financial Holdings Limited
90 Adelaide Street West, Suite 500
Toronto, Ontario
M5H 3V9
CANADA
2. Issuer Name and Ticker or Trading Symbol
Intercell Corporation, INCE
3. IRS or Social Security Number of Reporting Person (Voluntary)
N/a
4. Statement for Month/Year
12/1999
5. If Amendment, Date of Original (Month/Year)
10/1999
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director
( ) Officer (give title below)
( ) 10% Owner
(x) Other (specify below)
Less than 10% owner
7. Individual or Joint/Group Filing (Check Applicable Line)
(x) Form filed by One Reporting Person
( ) Form filed by More than Once Reporting Person
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Table I - Non-Derivative Securities Beneficially Owned
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1.Title of 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6.
Ownership Form: 7. Nature of Indirect
Security action action or Disposed of (D) Securites
Direct (D) or Beneficial
Date Code Benefically Indirect
(I) Ownership
Owned at End
of Month
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Amount (A) Price
or (D)
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common 12/7/99 S 999,900 D $ 15,498.45 D
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common 12/9/99 S 25,000 D $ 575.00 D
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common 12/16/99 S 1,499,900 D $ 31,997.90 D
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common 12/17/99 S 25,000 D $ 675.00 D
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common 12/20/99 S 1,049,900 D $ 28,473.00 D
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common 12/21/99 S 385,000 D $ 10,765.00 D
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common 12/22/99 S 1,999,800 D $ 53,847.08 D
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common 12/23/99 S 50,000 D $ 1,400.00 D
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common 12/29/99 S 190,000 D $ 5,130.00 D
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$148,361.43 2,844,467
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Table II - Derivative Securities Beneficially Owned (e.g. puts, calls,
warrants, options, convertible securities)
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No reportable transactions
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Explanation of Responses:
Signature of Reporting Person:
Allison Knudsen for
Queensway Financial Holdings Limited
Date:
02/14/2000
