Cindrigo Share Discussion Threads

[sidjameslaugh] 23/11/2015 17:20

From 38p. Dream on..

[liquidgold1] 18/11/2015 11:04

CHAL will do more this

I expect bullish weeks on opening and a 250p possible opening

GLA

[ilovetowin] 13/11/2015 14:53

Is it listed?

[andysaw] 10/11/2015 21:27

Ilovetiwin - this is listed in main market, not in AIM

[ilovetowin] 09/11/2015 09:32

I am holding a few of these.Would be nice for these to open higher but no guarantees on AIM.

[t-trader] 30/10/2015 20:17

New York Wheel Clears Last Big Hurdle in Approval Process

[andrbea] 28/10/2015 19:22

I thought they were coming back in the Autumn some time? Maybe the speech on Nov 5th will tell us when.

[aim_trader] 28/10/2015 10:38

Mark Gustafson from Challenger will be joining us on 5th November at the Chesterfield in Mayfair. To register click here:

[someuwin] 10/9/2015 21:38

Anyone heard any news yet?

[andrbea] 17/8/2015 17:32

no extra shares
your 50000 shares are worth whatever the mid-price is at say 10am on relisting day

[ooshtotty] 27/7/2015 11:39

Can anyone tell me please, I have 50,000 of these shares, bought at different prices, but some bought at around 38p to 50p. If it re-lists at say £1 per share, do all those who bought their shares for much less, get extra shares to compensate at all? I suppose what I'm trying to say is does the opposite to dilution happen when we have bought shares much cheaper and then they are re-listed at a much higher price? May be I'm just being overly optimistic?!!!

[t-trader] 29/6/2015 10:38

According to the video in the link above, they hope to resume trading by the end of the summer.

[harleymaxwell] 26/6/2015 07:16

Anyone know how long this process could take?

[t-trader] 21/6/2015 09:35

Challenger Acquisitions chairman updates on Starneth deal and NY Wheel

Remove the dash between proactive and investors when you use the link. Only way i could get it to post by adding it.

[bad robot] 28/5/2015 06:32

I would like to buy some at 5p

[ferrisc] 26/5/2015 21:44

Who knows but it's a lovely thought to mull over :)

[andrbea] 26/5/2015 19:09

wonder what price it will come back as (and what mkt cap) (as Starneth)?

[someuwin] 26/5/2015 13:52

RNS Number : 1667O

Challenger Acquisitions Limited

26 May 2015

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

For Immediate Release

26 May 2015

Challenger Acquisitions Limited

("Challenger" or the "Company")

Investment in "The New York Wheel"

Letter of intent signed for Starneth acquisition

and

Suspension in trading pending the publication of a Prospectus

Challenger Acquisitions Limited (LSE: CHAL) announces that following the recent receipt of funding under its convertible note programme, it has been able to participate as an investor in the proposed New York Wheel project ("Investment"). As the Investment constitutes a Reverse Takeover under the Listing Rules, trading in the Company's ordinary shares have been suspended with effect from this morning pending the publication of a prospectus and the application for the enlarged Company to have its Ordinary Shares admitted to the Official List and to trading on the main market for listed securities of the London Stock Exchange.

In addition, the Company is announcing that it has signed a letter of intent ("LOI") for the acquisition of the principal operating businesses of Starneth ("Starneth Acquisition"). This follows the announcement on 18 March that recent discussions between Challenger and Starneth Holding BV ("Starneth") had resulted in a Cooperation Agreement being signed by both companies. The announcement of the LOI is the announcement of a transaction which would also constitute a Reverse Takeover under the Listing Rules.

Background to the Investment and the LOI

The Company was formed to undertake one or more acquisitions of target companies or businesses in the entertainment and leisure sectors with the particular focus on the "attractions" sector.

The acquisition of a minority stake would be limited to a single acquisition rather than multiple acquisitions in distinct businesses and particular attention would be paid as to whether the acquisition of a minority stake would provide a unique and one-time only entry into a specific sector of the target industry. The Board believes that the Investment provides just such an opportunity.

In assessing potential acquisitions, Challenger stated that particular attention would be paid, inter alia, as to whether the acquisition had a compelling case for providing the foundation or platform for a scalable business which could generate substantial and sustainable free cash flow over time. The Starneth Acquisition, if completed, would in the Board's view provide such an opportunity.

Information on the Investment

Challenger has invested a total of US$3 million for a 2.463 percentage (2.463%) interest in New York Wheel Investor LLC. This company was setup to fund the equity component for the New York Wheel project, which includes an approximate 630 foot high observation wheel with 36 capsules, a 70,000 square foot terminal and retail building, and a 950 space parking garage. In order to acquire that interest Challenger has become a party to the Amended and Restated Operating Agreement of New York Wheel Investor LLC dated May 20, 2015. Under that agreement, Challenger can be called upon to make further capital contributions to the project if there is a cash shortfall (or face potential dilution of its interest).

The New York Wheel is intended to become one of New York City's great landmark attractions, alongside the Statue of Liberty and the Empire State Building. Located on the northeastern side of Staten Island (St. George), the 630-foot, or roughly 60-story, attraction will be the tallest observation wheel in the world and the only one in New York City.

The New York Wheel has the potential to accommodate up to 1,440 people per ride, welcoming as many as 30,000 visitors per day and an anticipated 4+ million visitors per year.

Further information is available at www.newyorkwheel.com

Information on Starneth

Starneth together with its respective subsidiaries and affiliates ("Starneth Group") form an engineering and manufacturing group specialized in the design and construction of Giant Observation Wheels and Structures.

The Starneth team is made up of a number of the people behind the design and construction of the highly successful London Eye. Several members of the former London Eye engineering, construction and erection team are currently employees and consultants in the Starneth Group; while others are long-term, strategic partners working with the Starneth Group when required. The CEO of the Starneth Group was the Project Manager for the London Eye project.

With this experienced team, the Starneth Group possesses a unique capability to offer a Giant Observation Wheel on a fixed-cost, turnkey basis. The Starneth team is currently working on the Dubai Wheel and The New York Wheel. For further information see www.starneth.com.

The consideration for the potential Starneth Acquisition will consist of a fixed component payable in cash and ordinary shares together with a variable component based on the future performance of the Starneth Group.

Any obligation or commitment to proceed with the Starneth Acquisition will be contained only in a definitive agreement and the execution, delivery and performance of the definitive agreement is subject to obtaining the approval of Challenger's board, following fully satisfactory completion by Challenger of due diligence on the Starneth Group,

The LOI may be terminated by mutual consent of the parties thereto at any time. Challenger may terminate the LOI, in its sole discretion, in the event of a material breach of the LOI by the sellers or the occurrence of any event that, in Challenger's sole discretion, constitutes a material adverse change in the assets, liabilities, condition (financial or otherwise), results of operations or prospects of the Starneth Group's business. The sellers may terminate the LOI, in their sole discretion, in the event of a material breach of the LOI by Challenger.

Suspension and Application for Listing

The Investment and the Starneth Acquisition, if it proceeds, individually and collectively consititute a Reverse Takeover under the Listing Rules since, inter alia, in substance they result in a fundamental change in the business of the issuer.

The Company is working on the preparation of a prospectus in relation to the Investment and the Starneth Acquisition and will, in due course, be making application for the enlarged Company to have its Ordinary Shares admitted to the Official List and to trading on the main market for listed securities of the London Stock Exchange. There is no intention to seek Shareholders' approval for either the Investment or the Starneth Acquisition unless required for the purposes of facilitating the financing arrangements or for other legal or regulatory reasons.

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

"Our investment in the New York Wheel project combined with the pending acquisition of Starneth provides an excellent platform for developing a scalable business for our shareholders."

[andysaw] 20/5/2015 07:51

GBP2,217,200 received and GBP850,000 is expected within the next 25 days"Whilst there may be additional demand for our funding instrument, we are keen to move forward with our acquisition strategy."Notes are at premium .... :) nice RNS

[someuwin] 20/5/2015 07:41

20 May 2015

Challenger Acquisitions Limited

("Challenger" or the "Company")

Funding update

Challenger Acquisitions Limited (LSE: CHAL), a company formed to undertake one or more acquisitions of target companies or businesses in the entertainment and leisure sectors with the particular focus on the attractions sector, is pleased to provide the following update on its proposed funding of up to GBP3 million by means of issue of convertible notes ("Notes") announced on 28 April 2015. The principal terms of the Notes are set out below.

Highlights:
- Total funds formally committed to date: GBP3,067,200.
- Total funds received by the Company to date: GBP2,217,200.

To date the Company has received GBP2,217,200 out of the total of GBP3,067,200 formally committed to and accordingly the Notes for the amount of GBP2,217,200 have been issued. The outstanding balance of GBP850,000 is expected within the next 25 days.

As previously announced, the funds from the Notes are for general balance sheet strength and, in accordance with Challenger's acquisition strategy, will be used to fund an acquisition or investment.

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

"We are very pleased that new investors and existing shareholders have provided additional capital for our Company. Whilst there may be additional demand for our funding instrument, we are keen to move forward with our acquisition strategy."

Principal terms of the Notes:

-- The Notes are unlisted, unsecured, transferable and convertible with a twelve month maturity date.

-- Interest is accrued at 12% per annum and payable quarterly, or upon conversion, in cash or in ordinary shares of the Company ("Ordinary Shares") at the Company's discretion.

-- The Notes can be converted into Ordinary Shares at a price per Ordinary Share equal to the lower of:

(A) 50p ("Fixed Conversion Price"); and

(B) market price ("Market Price") less 7.5%.

Market Price is defined as the average of the lowest 3 VWAP as quoted by Bloomberg for the period of 10 trading days prior to the conversion date. Provided that if the Volume Weighted Average Price (VWAP) is at any time less than 25p for 3 consecutive trading days, then the noteholder is unable to convert for a period of 30 calendar days, without the consent of the Company. The requirement of consent applies only on the first such occasion.

-- The maximum amount of Notes that may be converted in any 30 day period by a noteholder is 10% of the total amount of any Notes subscribed by that noteholder.

-- Challenger can redeem the Notes at a 10% premium anytime the Market Price is lower than the Fixed Conversion Price.

There is an introduction or arrangement fee of up to 6% payable in cash or ordinary shares, at the Company's discretion.

[andysaw] 14/5/2015 11:10

From Poetical through another board:morning allHi everyone. I don't think the seller is what people think here.. I think the selling (and maybe even buying we might see...) is very likely to be strategic. It's probably completed now, but do not be surprised to see YA increase or decrease their holding further from here. I believe this is directly related to the convertible debt that they have RNS'd about. It's important there's stability in the share price Believe it or not, Challen get wouldn't have wanted the share price in the 80's etc. Not good for debt against the cash and at that point no assets - too expensive. They also wouldn't want it too low either. 40-50p mcap is at this moment in time the right trading range for this share until debt is secured and a transaction is signed.I remain uber bullish this will happen soon and I very much doubt we'll be left hanging beyond the end of this quarter.. I must stress to people that the arm of YA invested here is their Investment arm and not the Equity Financing Facility that people usually associate them with. I'm also quite sure that when the time is right Yorkville will increase their holding there, this will likely happen after a transaction or too. This is part of their capitalisation strategy. Lastly, I believe that the TR-1 has the transaction date against it. I don't believe the majority of the shares were sold on the 19th (first day of dealings for Chal),. but actually around the weekend of the UKIS when some chunky money was being sold. I believe this was because the share price was in serious danger of flying up through the roof again due to big buying pressure. I thought so at the time and posted as such. For a non-domiciled company the reporting requirements are something like 10 business days, so that would make them actually not far out of regs at all. For that reason I believe the TR-1 has the wrong date and I'll be calling them up this afternoon when the states comes online to query it and ask them to re-issue the TR-1 if so. People make mistakes, I've had Morgan Stanley re-issue an RNS before because they calculated their disposal numbers incorrectly. All the best and everything looking very bright here for me.. :)) P

[andysaw] 13/5/2015 21:33

Good info on TR-1 notification in Poeticaltrader's tweets...

[andrbea] 06/5/2015 11:41

Besides NY and Dubai, I see that CHAL's partner, Starneth, is also involved at San Diego:

If everything goes perfectly, Malmuth said, Discovery Point would open in 2019 or 2020.

The companies involved in Discovery Point so far are Gensler, Starneth, Entertainment + Culture Advisors, McCarthy Building Companies, Greenhaus, Seaworld Parks & Entertainment and Nuffer, Smith, Tucker.