Member Info for Latino

New CEO only in job a week, so give him a break…I’m sure he will be updating the market pronto..

Market doesn’t like delay and we all know this hence retrace. It is however worrying they haven’t been able to conclude yet and have cited a vague date of mid Feb…for a small business they have been at it since Nov. Hopefully get this done soon.

Eytan is taking £150k..

The subscription for new Ordinary Shares by Eytan Uliel, the Company's CEO, for a value of £150,000 is considered a related party transaction for the purposes of the AIM Rules for Companies. The directors of the Company who are considered independent (being William Schrader, James Smith and Simon Potter) having consulted with Strand Hanson Limited, the Company's Nominated Adviser, consider the terms of the subscription to be fair and reasonable insofar as the Company's shareholders are concerned.

Buyers moving in…anybody know who the new investors are?

Agree, Potter has been a disaster. Also new BoD investing there own cash in the placing is also positive as they is belief straight at the top….afraid to say Potter did none of this!

Gay least going forward if they fail again, they will also be taking a hit and pockets…cannot say that about majority BODs on AIM!

Key executives of the Company, namely Eytan Uliel (Chief Executive Officer), Iain McKendrick (Chairman designate), Tim Eastmond (Chief Financial Officer designate), and Gagan Khurana (Chief Commercial Officer designate) have participated in the Placing via directly applying for Ordinary Shares for an aggregate value of GBP275,000 at the Placing Price. This participation is equivalent to 5.5% of the Placing and 3.9% of the total Fundraising (assuming the Open Offer were to be taken up in full).

Check your screen fella Sp at 0.16 to buy!

Get this correct, I am not positive at all! Just reading the RNS in detail and sharing some points!

BoD buying in RNS - it’s in the detail so you’ll have to read RNS in more detail fella!

As part of the Placing, the key executives of the Company, namely Eytan Uliel (Chief Executive Officer), Iain McKendrick (Chairman designate), Tim Eastmond (Chief Financial Officer designate), and Gagan Khurana (Chief Commercial Officer designate) have indicated their intention to participate in the Placing via directly applying for Ordinary Shares in the Placing for an aggregate of GBP250,000. This intended participation would be equivalent to 6.25% of the Placing and 4.17% of the total Fundraising (assuming the Open Offer were to be taken up in full).

1) Not Going Bust
2) New Chairman & CF
3) £250k BoD buy into placing

Someone just a whole 10M..

As part of the Placing, the key executives of the Company, namely Eytan Uliel (Chief Executive Officer), Iain McKendrick (Chairman designate), Tim Eastmond (Chief Financial Officer designate), and Gagan Khurana (Chief Commercial Officer designate) have indicated their intention to participate in the Placing via directly applying for Ordinary Shares in the Placing for an aggregate of GBP250,000. This intended participation would be equivalent to 6.25% of the Placing and 4.17% of the total Fundraising (assuming the Open Offer were to be taken up in full).

As part of the overall restructuring process, a number of changes will take effect at Board and management level once the fundraising is completed. In particular, I welcome Tim Eastmond as CFO designate, and I very much look forward to working closely with him and our new Chairman designate, Iain McKendrick. Together with the rest of the Challenger Energy team, we are single-mindedly focused on the task at hand: growing production, growing cash flow, and restoring shareholder value.

For ages now, com’on MMs..!

Welldone to the chairman today for stepping in and reigning lord Dryson…it should have been sooner but he has finally had enough!

Yep anticipated flurry of trades throughout the day here..

From this the additional £5m subject to further agreement should not be needed..reading between the lines..

Prof Sir Bruce Keogh, Chairman, commented:

"I am grateful to shareholders for their support in providing this financing, which puts the Company in a position to complete the Formal Sale Process."

Seeing how this is tanking it maybe PIs with 10p allocation…are selling as fast as they can!

Funding RNS shortly but CEO needs to sort himself or MUST get booted out!