News: ARC Australian Rural Capital clarifies on media reports

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    March 8 (Reuters) - Australian Rural Capital Ltd (ARC) :

    • Clarification of media reports (ARC)
    • Confirms that it is working exclusively with a member of the Shanghai Pengxin Group and its advisors
    • Refers to article in the Australian in relation to ARC's proposed participation with member of Shanghai Pengxin Group
    • "It is the current intention of ARC to seek to raise equity funds in the Australian capital markets"
    • Proposed transaction would result in ARC holding a direct ownership stake in Kidman
    • An application has been made to the foreign investment review board by the Shanghai Pengxin Group member in relation to the proposed transaction
    • Recommendation by Foreign Investment Review Board (FIRB) and approval by treasurer required for the proposed transaction to proceed
 
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