CHAL.L Regulatory News (CHAL)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, WITHIN, INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.

For Immediate Release

30 July 2015

Challenger Acquisitions Limited

("Challenger" or the "Company")

Funding update, grant of options and issue of equity

Challenger Acquisitions Limited (LSE: CHAL), a company actively engaged in the attractions sector, is pleased to provide the following update:

(a) Further to the announcements on 28 April and 20 May 2015 regarding a funding by means of issue of convertible notes, the Company has now received £3,067,200, representing all the funds that were formally committed. These funds were used to invest in the New Wheel project (see 26 May 2015 announcement) and to provide the initial cash consideration for the Starneth acquisition (see 16 July 2015 announcement).

(b) On 28 July 2015, 630,000 Ordinary Shares ("the Introducer's Shares") were allotted at a price of 40 pence per Ordinary Share, as a fee to the introducer of the Starneth acquisition, which is more fully described in the Company's announcement of 16 July 2015.

(c) On 29 July 2015, options to acquire 615,000 Ordinary Shares ("Options") were granted to employees and consultants of the Company. These Options have an exercise price of 40 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 the 5th anniversary of grant.

Mark Gustafson, the Company's Executive Chairman, said:

"We are very pleased that our convertible note funding has been completed and we are now actively working on our prospectus for re-admission."

Application will be made to the UK Listing Authority for the Introducer's Shares, which when issued will rank pari passu with the existing shares in issue, to be admitted to the Official List ("Listing") and application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on its regulated market for listed securities ("Trading"). It is expected that such admission will become effective and the New Ordinary Shares will be issued at 8:00 am on 3 August 2015. Due to the fact that the Company's shares are currently suspended, trading will not commence in the New Shares until after the Company publishes a prospectus as referred to below.

The issue of the Introducer's Shares is conditional on Listing and Trading as referred to above.

As previously announced, the Company is working on the prospectus in relation to the Reverse Takeover announced by the Company on 26 May 2015. Subject to the publication of such prospectus, it is envisaged that the existing listing will be cancelled and the enlarged Company will apply for its enlarged issued share capital to be admitted to the Official List and to trading on the main market for listed securities of the London Stock Exchange.

As a result of this allotment, the total number of ordinary shares in issue and the total number of voting rights in the Company is 13,079,889. There are no shares held in treasury.

The above figure of 13,079,889 may be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

For more information: