Challenger Acquisitions Limited Launch of unique film focused conventions (7187V)

TIDMCHAL

RNS Number : 7187V

Challenger Acquisitions Limited

07 November 2017

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

For Immediate Release

7 November 2017

Challenger Acquisitions Limited

("Challenger" or the "Company")

New Project: Participation in Company to Launch Film Focused Conventions

Challenger Acquisitions Limited (LSE: CHAL), the leisure and entertainment sector focused company, is pleased to announce that it has signed an agreement to support a private UK company (the "Private Company") set to launch and operate film focused conventions, beginning with a three-day event in London in 2018. These ticketed conventions will provide attendees with a unique opportunity to meet the stars of recent action hero movies.

Challenger has provided a loan of GBP100,000 (further details below) and has the option to participate in future events, which the Board believe could be very attractive, high-profile opportunities. Alongside this agreement, the Company is continuing to pursue additional acquisition and development opportunities, with due diligence currently being undertaken on five new potential projects, which the Board believes have the potential to offer near and long-term revenue generation prospects, as previously announced.

Overview

-- Challenger to provide a GBP100,000 loan agreement to the Private Company to support the launch of a unique film focused convention

-- Funding will support event venue, staff, marketing and guest (actor) costs for a three-day convention to be held in London in 2018

-- The loan is to be repaid to Challenger by 15 May 2018 with a repayment premium of 40% (loan is interest free, other than on default)

   --    Challenger has the right to participate in future events operated by the Private Company 

Mark Gustafson, Chief Executive Officer, said, "This is an exciting and incredibly special opportunity to participate in a new business set to launch a unique convention that could be duplicated throughout Europe on a similar platform. Although this opportunity is initially smaller in scope than the five potential projects we are currently reviewing, it does have significant growth potential. We expect to provide more details on this event prior to the end of this year."

This announcement contains inside information.

**ENDS**

For more information visit www.challengeracquisitions.com or enquire to:

 
 Challenger Acquisitions Limited 
 Mark Gustafson                     [phone] 
 St Brides Partners Ltd (PR) 
                                    [phone] 
 Lottie Wadham, Charlotte Page       1177 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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November 07, 2017 02:00 ET (07:00 GMT)