CHAL.L Regulatory News (CHAL)

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For Immediate Release

7 July 2015

Challenger Acquisitions Limited

Issue of Equity

Challenger announces the following allotments of Ordinary Shares of 1 pence each ("Ordinary Shares"):

(a) On 3 July 2015, 109,789 Ordinary Shares were allotted at a price of 37 pence per Ordinary Share, to the holders of the convertible loan notes described in the company's announcement of 20 May 2015, in payment of interest to 30 June 2015.

(b) On 3 July 2015, 240,000 Ordinary Shares were allotted at a price of 40 pence per Ordinary Share, as a fee to the introducer of the New York Wheel investment, which is more fully described in the company's announcement of 26 May 2015.

(together the "New Ordinary Shares")

Application will be made to the UK Listing Authority for the New Ordinary 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 8 July 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 New Shares is conditional on Listing and Trading as referred to above.

The Company is proposing to publish a 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 11,349,889. There are no shares held in treasury.

The above figure of 11,349,889 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.

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