Sept 30 (Reuters) - Silver Chef Ltd SIV.AX :
* ANNOUNCES SALE OF HOSPITALITY BUSINESS
* NEXT CAPITAL WILL BUY SILVER CHEF'S HOSPITALITY BUSINESS FOR $18.25 MILLION THROUGH AN ACQUISITION
* DIRECTORS UNANIMOUSLY RECOMMEND THAT ALL SHAREHOLDERS VOTE IN FAVOUR OF PROPOSED TRANSACTION
* CO WILL RETAIN ALL OF ASSETS AND LIABILITIES IN RELATION TO GOGETTA BUSINESS AND WILL CONTINUE WITH AN ORDERLY RUN DOWN OF BUSINESS
* EXISTING SYNDICATED DEBT FACILITY AND WAREHOUSE SECURITISATION FACILITY WILL BE NOVATED TO HOSPITALITY GROUP AND AMENDED
* SILVER CHEF'S FINANCIERS HAVE GRANTED AN EXTENSION TO EXISTING WAIVERS UNTIL 30 NOVEMBER 2019 TO IMPLEMENT PROPOSED TRANSACTION
* IF SHAREHOLDER APPROVAL NOT OBTAINED FOR PROPOSED DEAL, A WAIVER REVIEW PERIOD OF 15 DAYS WILL BE TRIGGERED TO NEGOTIATE WITH FINANCIERS
* IF NEGOTIATIONS ARE UNSUCCESSFUL, FINANCIERS MAY REQUIRE ALL FACILITIES TO BE REPAID IMMEDIATELY
* IF NEGOTIATIONS ARE UNSUCCESSFUL, THERE IS UNCERTAINTY CO WILL BE ABLE TO CONTINUE AS A GOING CONCERN