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CHAL Cindrigo Holdings Limited

0.13
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Cindrigo Holdings Limited LSE:CHAL London Ordinary Share Ordinary Shares
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.13 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Challenger Acquisitions Limited New Funding (9543O)

25/08/2017 7:00am

UK Regulatory


Cindrigo (LSE:CHAL)
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From Mar 2019 to Mar 2024

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TIDMCHAL

RNS Number : 9543O

Challenger Acquisitions Limited

25 August 2017

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

For Immediate Release

25 August 2017

Challenger Acquisitions Limited

("Challenger" or the "Company")

New Funding

Challenger Acquisitions Limited (LSE: CHAL) announces that it has it has received GBP250,000 (GBP237,500 net of fees) from the previously announced GBP1,000,000 unsecured convertible note facility due 8 June 2019 ("Note Facility"). This Note Facility was announced on 13 June 2017 and restated below. In total GBP350,000 has now been received from this facility.

This Note Facility will be used for general working capital purposes and to potentially support an acquisition or development of a project to complement the Company's US$3 million equity interest in the New York Wheel Project.

Principal terms of the Note Facility

   --     The aggregate principal amount is up to GBP1 million with a 24 month term. 

-- The convertible note is unlisted, unsecured, transferable and must be redeemed by the Company on 8 June 2019, in cash unless it has been fully converted by then into ordinary shares of the Company ("Ordinary Shares").

   --     There are no conversions for the first 120 days. 

-- The maximum amount that can be converted in any 30 day period is 20% of the principle amount.

-- Subject to the conversion limitations noted above, the noteholder may exercise a conversion at the lowest volume weighted average price over the 10 days prior to the conversion ("Conversion Price").

   --     Interest is accrued at 8% per annum and payable upon conversion, at the Company's option in: 

o cash; or

o by issuing Ordinary Shares in respect of such accrued interest conversion amount at the Conversion Price.

-- At any time the Company can redeem in cash all or any part of the outstanding convertible note from the holder at a 25% premium to the principal amount of such notes.

   --     The convertible note and related documentation are governed under the laws of England. 

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 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCEAPPLAFAXEFF

(END) Dow Jones Newswires

August 25, 2017 02:00 ET (06:00 GMT)

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