Aug 7 (Reuters) - South Pacific Resources Ltd SPB.AX :
* 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