Silver Chef : ASX Notice- Accelerated Non-renounceable Entitlement Offer

Notice

Notice reference number: #0281.17.03 Notice date: 21/03/2017 What's this about? Effective date: 21/03/2017

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0BTitle

Silver Chef Limited- Accelerated Non-Renounceable Entitlement Offer

1BDescription

On 21 March 2017, Silver Chef Limited (ASX Code: SIV) (Company) announced a 1 for 12 accelerated pro-rata non-renounceable entitlement offer at an issue price of $7.00 per new share to raise approximately $21 million (Entitlement Offer).

The Entitlement Offer has the following two components.

• An institutional entitlement offer, where offers have been made to qualifying institutional securityholders for them to apply for their pro-rata entitlement (Institutional Entitlement Offer).

• A retail entitlement offer, where offers will be made to qualifying retail securityholders for them to apply for their pro-rata entitlement (Retail Entitlement Offer).

New shares issued will rank equally in all respects with existing shares from the date of issue.

Entitlements not taken up under the Institutional Offer will be offered to new and existing eligible institutional investors concurrently with the Institutional Entitlement Offer and Institutional Placement.

The anticipated timetable in relation to the Entitlement Offer is set out below.

Activity	Date
Trading halt (before market open)	Tuesday, 21 March 2017
Announcement of Entitlement Offer and Appendix 3B and cleansing statement lodged	Tuesday, 21 March 2017
Institutional Entitlement Offer opens	Tuesday, 21 March 2017
Institutional Entitlement Offer closes (12.00pm (Brisbane time))	Wednesday, 22 March 2017
Announcement of results of Institutional Entitlement Offer and release of Retail Entitlement Offer documentation to ASX (before commencement of trading following the trading halt)	Thursday, 23 March 2017
Trading halt is lifted, and existing shares resume trading on an ex-entitlement basis	Thursday, 23 March 2017
Record Date for Entitlement Offer (7.00pm (Brisbane time))	Thursday, 23 March 2017
Information Booklet and Entitlement & Acceptance Form despatched	Tuesday, 28 March 2017
Retail Entitlement Offer opens	Tuesday, 28 March 2017
Settlement of Institutional Entitlement Offer	Tuesday, 28 March 2017

ASX Notice Notice (continued)

Updated Appendix 3B for New Shares issued under the Institutional Entitlement Offer lodged (if required) (no later than 1.00pm (Brisbane time))	Tuesday, 28 March 2017
Issue and quotation of New Shares issued under the Institutional Entitlement Offer	Wednesday, 29 March 2017
Last day to extend Retail Entitlement Offer close date	Friday, 7 April 2017
Retail Entitlement Offer closes (5.00pm (Brisbane time))	Wednesday, 12 April 2017
Silver Chef announces results of Retail Entitlement Offer	Wednesday, 19 April 2017
Settlement of Retail Entitlement Offer	Thursday, 20 April 2017
Issue of New Shares under the Retail Entitlement Offer	Friday, 21 April 2017
Updated Appendix 3B for New Shares issued under the Retail Entitlement Offer lodged (if required), along with other required information (e.g. distribution schedule) (no later than 12 noon (Brisbane time))	Friday, 21 April 2017
Quotation of New Shares under the Retail Entitlement Offer	Monday, 24 April 2017
Despatch of holding statements for New Shares issued under the Retail Entitlement Offer	Monday, 24 April 2017

What do I need to do and by when?

2BSettlement issues

Despite the fact that securities are trading 'ex entitlement' on ASX Trade, CHESS will not recognise for settlement purposes the 'ex entitlement' or the 'cum entitlement' tag on CHESS messages and CHESS will not maintain cum balances during the deemed 'CHESS ex-period', i.e. the period commencing on the deemed CHESS ex-date up to and including the record date. However, a record date cum balance will be available the business day following the record date, which will be equal to the registered holding balance at CHESS end of day on the record date. As a result any transfer that occurs prior to record date will be effectively transferred on a 'cum entitlement' basis.

Therefore, Participants must ensure that any transfer, including the priming of Broker Entrepot Accounts, is conducted in accordance with the basis of quote. For example, a transfer in relation to a transaction conducted on an 'ex entitlement' basis should ordinarily only occur post record date.

CHESS will perform automatic diary adjustments to 'cum entitlement' settlement obligations outstanding as at the record date.

Trading issues

ASX will not price a 'cum entitlement' market with respect to trading in the Company's securities. Persons who acquire the Company's securities after the commencement of the trading halt on Tuesday, 21 March 2017 are not entitled to participate in the Entitlement Offer.

Instructions

For further details, please refer to the Company's announcements on Tuesday, 21 March 2017.

Need more information?

For further details, please call the Entitlement Offer Information Line on [phone] at any time between 8:30am and 5:30pm (AEST).

Issued by Belinda Chiu

4BContact Details

[phone]