Aug 7 (Reuters) - South Pacific Resources Ltd (SPB) :
- ANNOUNCES AGREEMENT TO ACQUIRE TAKMUR PTE
- AS PART OF TRANSACTION SPB WILL SEEK SHAREHOLDERS' APPROVAL TO EFFECT A 20 TO 1 SHARE CONSOLIDATION
- SIGNED A SALE AND PURCHASE AGREEMENT TO ACQUIRE TAKMUR PTE LTD
- AS PART OF TRANSACTION CO TO SEEK SHAREHOLDERS' APPROVAL FOR A CAPITAL RAISING OF AUD $14 MILLION UNDER A PROSPECTUS
- OLIVER B. HASLER WILL BE PROPOSED CHAIRMAN OF BOARD AND CHIEF EXECUTIVE OFFICER OF ACQUIRED TAKMUR
- ENTERED INTO AN AGREEMENT WITH ANA AND BELLA PTY LTD TO SELL PAPUA NEW GUINEA ASSETS
- SUBJECT TO APPROVALS FOR TRANSACTION CO TO BECOME A PRODUCER OF MINERAL SANDS IN INDONESIA
- COMPANY TO SELL PAPUA NEW GUINEA ASSETS FOR A NOMINAL AMOUNT
- SPB TO ACQUIRE TAKMUR VIA ISSUE OF 79.8% SHARES (POST-CONSOLIDATION) AT AUD0.40/SHARE TO SHAREHOLDERS OF TAKMUR
- PHOENIX FUND SOLUTIONS AND TAKMUR SPC LTD WILL HOLD MORE THAN 20% OF CO POST-TRANSACTION
