Dec 12 (Reuters) - Wellard Ltd WLD.AX :
* WELLARD LTD - SIGNED A TERM SHEET TO SELL MV OCEAN SHEARER FOR US$53.0 MILLION
* WELLARD LTD - INTENDS TO APPLY ABOUT US$42.3 MILLION OF SALE PROCEEDS TO REDUCING DEBT
* WELLARD LTD - WELLARD IS SELLING MV OCEAN SHEARER TO LIVESTOCK TRANSPORT & TRADING CO KSC, KUWAIT