Ann: Silver Chef - Shareholder Update July 2018, page-2

Hmmm...methinks this update is a sugar coated pill!

I cannot see them clearing the Go Getta loan out of receivables...the unrecoverability of the "stinky receivables" always happens in the back half.

The ASIC matter is a shame, just ask Thorn (TGA) what a nightmare they can be. It will tie up resources and divert attention to growing the hospitality side of things. The current RC doesn't help either. There is a real witch hunt on all financiers these days. Caveat Emptor has been thrown out the window with public expectation that all financiers are fiends and should be flogged in the town square!

Interesting SIV do not nominate an indicative statutory loss for the year...nor do they give an indication as to the size of the ASIC problem.

Disappointing.