Sept 25 (Reuters) - Avenira Ltd AEV.AX :
* CO HAS BEEN UNABLE TO SECURE ANY ALTERNATIVE THIRD-PARTY FUNDING TO A LEVEL THAT COULD MEET ITS FINANCIAL REQUIREMENTS
* IF TRANSACTION TO SELL INTEREST IN BAOBAB PROJECT AND NOVAPHOS NOT APPROVED, A LARGE PORTION OF CO'S DEBT BECOMES IMMEDIATELY PAYABLE
* WITHOUT IMMEDIATE THIRD PARTY FUNDING, CO MAY NOT BE ABLE TO CONTINUE AS A GOING CONCERN
* INDEPENDENT DIRECTORS RECOMMEND ALL SHAREHOLDERS VOTE IN FAVOUR OF TRANSACTION IN ABSENCE OF A SUPERIOR PROPOSAL
* AFTER DEAL TO SELL INTEREST IN BAOBAB & NOVAPHOS TO CONSORTIUM OF MAJOR SHAREHOLDERS, CO WILL UNDERTAKE A REVIEW OF WONARAH PROJECT