chairman clive palmer

chairman Clive Palmer
Gladstone Pacific to buy Egidia, Dasines from chairman Clive Palmer : 22 July 2008

LONDON (Thomson Financial) - Gladstone Pacific Nickel Ltd. said it will acquire chairman Clive Palmer's Egidia Pty Ltd. and Dasines Pty Ltd. in return for 50 percent of the issued shares of Gladstone Pacific Nickel.

'The general effect of the acquisitions is that Gladstone Pacific Nickel will regain 100 percent ownership of Marlborough Nickel Pty Ltd.,' said Gladstone Pacific Nickel chief executive John Downie.

'Mr Palmer's interests in Marlborough Nickel will be rolled up to a direct interest in Gladstone Pacific Nickel, thus simplifying the capital structure and

facilitating the financing and development of the project,' Downie added.