March 8 (Reuters) - Australian Rural Capital Ltd ARC.AX :
* Clarification of media reports ARC.AX
* 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
* Source text for Eikon ID:nASX2M66Hq