Challenger Acquisitions Limited Allotment of Shares re Convertible Loan Notes (2716M)
12 October 2016 - 5:00PM
UK Regulatory
TIDMCHAL
RNS Number : 2716M
Challenger Acquisitions Limited
12 October 2016
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, WITHIN, INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA
OR JAPAN.
For Immediate Release
12 October 2016
Challenger Acquisitions Limited
("Challenger" or the "Company")
Allotment of Shares re Convertible Loan Notes
Challenger Acquisitions Limited (LSE: CHAL), a leader in the
Giant Observation Wheel industry announces that it has allotted
529,952 new Ordinary Shares of GBP0.01 each ("Shares") to the
holders of convertible loan notes in payment of interest due for
quarter ended 30 September 2016, as set out in the below table. In
respect of the Convertible Loan Notes due 2019, the Company has
elected to pay seven-eighths of the interest due in the form of new
Convertible Loan Notes due 2019.
Loan Note Interest Conversion Number of New Loan
to Price Shares allotted Notes
30 Sep 2016 Issued
converted
into Shares
------------- -------------- -------------- ----------------- ----------
Convertible GBP65,122.58 19.80p-17.30p 361,314 Nil
Notes due [note ^]
2017 (as
extended
in 2016)
------------- -------------- -------------- ----------------- ----------
Convertible
Notes due
2017 GBP6,301.37 17.67p 35,654 Nil
------------- -------------- -------------- ----------------- ----------
Convertible
Notes due
2018 GBP20,164.38 17.05p 118,290 Nil
------------- -------------- -------------- ----------------- ----------
Convertible
Notes due
2019 GBP2,597.00 17.67p 14,694 GBP18,179
------------- -------------- -------------- ----------------- ----------
Note: The calculation of the number of shares to be allotted is
performed for each individual holder and rounded to the nearest
whole share. As such, there are small rounding differences in the
table above.
Note ^: Includes interest due on Notes converted in the quarter,
such interest calculated by reference to the date of
conversion.
The Company has agreed with the holder of the Convertible Notes
due 2019 that Shares issued in respect of quarterly interest
payments (1/8 of the total 8% due on the notes) will be calculated
by reference to the 10-day trading average share price. The
conversion price for Convertible Notes due 2019 remains at 80p.
Application has been made to the Financial Conduct Authority
("FCA") for 529,952 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. It is expected that Admission
will become effective, and dealings in the new ordinary shares will
commence, at 8.00 a.m. on 17 October 2016.
Following this allotment, the total number of ordinary shares
with a nominal value of GBP0.01 each (the "Ordinary Shares") in
issue and the total number of voting rights in the Company is
21,708,403. There are no shares held in treasury. The figure of
21,708,403 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.
**ENDS**
For more information visit www.challengeracquisitions.com or
enquire to:
Challenger Acquisitions Limited
Mark Gustafson +1 604 454 8677
St Brides Partners Ltd (PR)
Lottie Brocklehurst, Charlotte +44 (0) 20 7236
Heap 1177
finnCap (Financial Adviser
and Broker)
Adrian Hargrave, James Thompson, +44 (0) 20 7220
Kate Bannatyne 0500
Notes to Editors:
Challenger (LSE: CHAL) is focused on the design, engineering,
project management and investment in select giant observation
wheels. By combining its world-class team of technical engineering
and project management skills with proven international financial
expertise, the Company is ideally positioned to become a leader in
the giant observation wheel sector.
The Company, which also has a US$3 million equity interest in
the US$590 million New York Wheel Project, is currently focusing on
appraising approximately 25 opportunities in its project pipeline
where it believes that it can utilise its expertise. With a team
that has worked on four of the largest giant observation wheels
constructed over the last 16 years, including the iconic London
Eye, the Company is building on its unique position to deliver
projects and generate shareholder value.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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