April 9 (Reuters) - Mission Newenergy Ltd MBT.AX :
* TO ACQUIRE PLAYUP LIMITED AND SEEK ASX AND NASDAQ EXCHANGES LISTING - SEC FILING
* AT PRESENT, ASX EXPRESSED CONCERN REGARDING PROPOSED PLAYUP LIMITED TRANSACTION, SUITABILITY OF THE COMPANY FOR LISTING ON THE ASX
* DEAL TO INVOLVE CO WHOLLY ACQUIRING PLAYUP WITH CONSIDERATION COMPRISING ISSUE OF SHARES IN CO; A REVERSE MERGER
* PLAYUP RTO TO BE EFFECTED BY COMPLETION OF FUNDING ROUND ANTICIPATED TO BE US$40 MILLION, COMPLIANCE WITH ASX, NASDAQ LISTING RULES
* BASED ON CAPITAL RAISING, POSSIBLE EITHER/BOTH DANIEL SIMIC, RICHARD SAPSFORD TO HOLD OVER 20% EQUITY INTEREST IN CONSOL ENTITY
* EXISTING SHAREHOLDERS OF CO SHALL RETAIN 5% OF MERGED COMPANY ON A FULLY DILUTED BASIS