Brief: Silver Chef gets Revised Proposal From Next Capital Pty For Hospitality Business

Siv Capital

23/09/2019 02:49

Sept 23 (Reuters) - Silver Chef Ltd  SIV.AX :
    * ENTERED INTO AN EXCLUSIVITY DEED WITH NEXT CAPITAL UNTIL 1
DECEMBER 2019 TO PROGRESS NEXT CAPITAL PROPOSAL
    * REVISED CONDITIONAL PROPOSAL FROM INVESTORS INVESTING
UNDER
LEADERSHIP OF NEXT CAPITAL TO SELL ITS HOSPITALITY BUSINESS FOR
$18 MILLION
    * BOARD HAS DETERMINED NOT TO PROCEED WITH BLUE STAMP
COMPANY'S
$60 MILLION RECAPITALISATION PROPOSAL
    * BOARD INTENDS TO UNANIMOUSLY RECOMMEND THAT SHAREHOLDERS
VOTE IN
FAVOUR OF NEXT CAPITAL PROPOSAL, IN ABSENCE OF A SUPERIOR
PROPOSAL

Source text for Eikon:  ID:nASX868hwy 
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 ((Reuters.Briefs@thomsonreuters.com;))