CHAL.L Regulatory News (CHAL)

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For Immediate Release

25 May 2017

Challenger Acquisitions Limited

("Challenger" or the "Company")

Allotment of Shares re Convertible Notes

Challenger Acquisitions Limited (LSE: CHAL) announces that it has allotted 16,091,053 new Ordinary Shares of £0.01 each ("Shares") in relation to the conversion of certain convertible notes and a further 366,763 Shares in relation to interest due on convertible notes up to the date of conversion, as follows:

· 2,089,995 Shares on the conversion of £60,242 of the Unsecured Convertible Note due 13 April 2018;

· A total of 10,685,237 Shares have been allotted to holders of the Unsecured Convertible Note due 6 May 2018, comprising 10,429,629 Shares on the conversion of £281,600 of notes and 255,608 Shares for accumulated interest.

· 3,682,584 Shares have been allotted in relation to the Unsecured Convertible Note due 22 April 2018, comprising 3,571,429 Shares on the conversion of £100,000 of notes and 111,155 Shares for accumulated interest.

Application will be made to the Financial Conduct Authority ("FCA") for 16,457,816 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 1 June 2017.

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 58,429,171. There are no shares held in treasury. The figure of 58,429,171 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.

Mark Gustafson, Challenger's Chief Executive Officer said: "We continue to communicate actively with our note holders and the cooperation level has been outstanding. Additional announcements shall be forthcoming on other corporate developments."

This announcement contains inside information.

**ENDS**

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