7 Jan 2016 15:51
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, WITHIN, INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.
For Immediate Release
7 January 2016
Challenger Acquisitions Limited
("Challenger" or the "Company")
Allotment of Shares and Options Granted
Challenger Acquisitions Limited (LSE: CHAL), a leader in the Giant Observation Wheel industry announces that it has allotted 230,034 new ordinary shares at a price of £0.40 per ordinary share to the holders of the convertible loan notes, details of which were announced on 20 May 2015, in payment of interest to 31 December 2015.
Application has been made to the Financial Conduct Authority (FCA) for the new ordinary shares, comprising 230,034 ordinary 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 13 January 2016.
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 13,555,715. There are no shares held in treasury. The above figure of 13,555,715 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.
Grant of Stock Options
The Company has also agreed to issue options to acquire 180,000 Ordinary Shares ("Options") to various consultants of the Company. These Options have an exercise price of 45 pence, and are exercisable in the following tranches; 25% as from the date of grant and 25% every twelve months thereafter (and are therefore fully vested after three years). They cannot be exercised after 05 January, 2021 (the 5th anniversary of grant).
The total number of ordinary shares under option is 1,515,000 representing approximately 10.05% of the total shares outstanding and under option.
**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, Felicity Winkles | +44 (0) 20 7236 1177 |