Challenger Acquisitions Ltd - previously observation wheels, now "focused on securing a new project" - Agrees extension of longstop date for Cindrigo Ltd offer to February 26 from Thursday this week as "Canadian restructuring process has taken more time than initially anticipated". Cindrigo and Cindrigo Energy Ltd are among a group of companies pursuing renewable energy projects in the waste to energy and biomass energy sector.
Additionally names Simon Fawcett, who has held a number of positions at entrepreneurial businesses as chief financial officer and chief executive, as CFO both of Challenger and Cindrigo. Fawcett's CFO and CEO roles were held at Empyre Media Capital, Atlantic Screen Music, Aramid Capital Partners, Pathe Entertainment Ltd, and others. His appointment is effective Friday and he will become a director at Challenger. Jordan Oxley, currently managing director of energy developer Energy Co-Invest, will be appointed as a new independent director of the company on Friday as well. Jonathan Tidswell-Pretorius has resigned as non-executive director.
Current stock price: 0.13 pence
Year-to-date change: down 24%
By Anna Farley; annafarley@alliancenews.com
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