Challenger Acquisitions Limited Board Changes and Extension of Convertible Note (7591A)
March 28 2017 - 5:50AM
UK Regulatory
TIDMCHAL
RNS Number : 7591A
Challenger Acquisitions Limited
28 March 2017
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, WITHIN, INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA
OR JAPAN.
For immediate release 28 March 2017
Challenger Acquisitions Limited
("Challenger" or the "Company")
Board Changes and Extension of Convertible Note
Challenger Acquisitions Limited (LSE: CHAL), is pleased to
announce that Mr. Harold Eugene Stice ("Gene"), a successful senior
manager with over 30 years of progressive experience in finance,
compliance and administration within the financial services
industry, has been appointed as Non-Executive Director to its Board
of Directors effective immediately. Concurrent with this
appointment, Mr. Gert Rieder has retired from the Board in order to
focus on his other business interests. Mr Stice's significant
transactional experience will be valuable in supporting the
Company's strategy to explore a number of potential acquisition
opportunities in the leisure and entertainment sectors.
Mr. Stice is based in New York and received a Masters of
Business Administration in Finance from New York University. He is
currently President and CEO of Nuovo Corporate Services, Inc. which
provides strategic accounting, compliance and administrative
support to international companies with a U.S. focus. Previously he
was the Chief Financial Officer and Chief Compliance Officer for
the Jeffrey Matthews Financial Group (10 years), a fully regulated
broker-dealer. Mr. Stice also held senior positions with a number
of other companies including Group Health Solutions, LLC (Chief
Financial Officer), Joseph Gunnar & Co., LLC (Chief Financial
Officer), USA Capital, Inc. (Chief Financial Officer & Chief
Operating Officer), First Liberty Investment Group (Chief Financial
Officer & Chief Operating Officer), and Donald & Co.
Securities, Inc. (Chief Financial Officer & Director of
Compliance).
The Company also announces that it has amended and restated the
GBP500,000 secured convertible note issued by the Company (see RNS
dated 3 March 2016) on the same terms except for the following:
-- the date of maturity will now be 2 March 2018
-- the fixed conversion price will now be 12p
-- accrued interest will be paid upon any conversion of the note
or on the maturity date, instead of on a quarterly basis
-- at any time the Company can redeem in cash all or any part of
the outstanding note at a 30% premium to the principal amount
Mark Gustafson, Challenger's Chief Executive Officer said: "We
are delighted to welcome Gene to the Board and believe his
financial background will be extremely helpful this year as we move
forward with Challenger. Whilst we look to the future, we would
also like to take this opportunity to thank Gert for all his
contributions since the Company was established and wish him all
the best in his future endeavours. We also wish to thank our
noteholder for cooperating with us in a positive manner. Additional
announcements shall be forthcoming on the remaining notes and other
corporate developments."
This announcement contains inside information.
**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, Charlotte +44 (0) 20 7236
Page 1177
Notes to Editors:
Challenger (LSE: CHAL) has a US$3 million equity interest in the
US$590 million New York Wheel Project and is currently focusing on
appraising additional opportunities in the attractions sector.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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