New York Wheel Update and Conversion of Note

RNS Number : 9201Z

Challenger Acquisitions Limited

06 September 2018

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, WITHIN, INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.

For Immediate Release

                                                                                                                                    6 September 2018

Challenger Acquisitions Limited

("Challenger" or the "Company")

New York Wheel Update and Conversion of Note

Challenger Acquisitions Limited (LSE: CHAL) announces that it has been reported that the developers of the New York Wheel have applied for an extension based on the following statement:

"The New York Wheel is in the process of negotiating an amendment to the settlement agreement, including extending the standstill period. In connection with the amendment negotiations, all parties have agreed to extend the Sept. 5, 2018 deadline in the settlement agreement until, at least, Sept. 11, 2018, so that the amendment can be negotiated."

In addition, Challenger has allotted 47,593,700 new Ordinary Shares of £0.01 each ("Shares") comprising 47,500,000 Shares for the conversion of £95,000 of the remaining original convertible notes issued in 2015 (see RNS dated 30 August 2018) and a further 93,700 Shares in relation to interest on this convertible note.

Application will be made to the Financial Conduct Authority ("FCA") for 47,593,700 Shares to be admitted to listing on the standard listing segment of the Official List and to the London Stock Exchange for such shares to be admitted to trading on the Main Market for listed securities ("Admission").  It is expected that Admission will become effective, and dealings in the new ordinary shares will commence, at 8.00 a.m. on 12 September 2018.

Following this allotment, the total number of ordinary shares with a nominal value of £0.01 each (the "Ordinary Shares") in issue and the total number of voting rights in the Company is 269,001,572.  There are no shares held in treasury. The figure of 269,001,572 Ordinary Shares and voting rights may be used by shareholders in the Company as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

This announcement contains inside information.

**ENDS**

For more information visit www.challengeracquisitions.com or enquire to:

Challenger Acquisitions Limited
Mark Gustafson	[phone]
St Brides Partners Ltd (PR)
Lottie Wadham, Charlotte Page	[phone]

 

END

 

 

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