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PACIFIC ISLANDS GOLD NL (ASX.PIG)

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19981999

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delisted following a merger with Burdekin Resources NL

27/08/1999

we understand Burdekin had a 16% interest in the company rising to 25% upon conversion of convertible notes - the effect of the merger terms agreed to by the parties was that Burdekin became entitled to 100% of the issued share capital of the company and shareholders received one Burdekin share for each existing three shares they held - a separate offer for the options was made - for the June 1999 options, 1 Burdekin share for every 50 options - for the April 2000 options, 1 Burdekin share for every 30 options - for the July 2002 options, 1 Burdekin share for every 20 options

27/08/1999
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