Proactiveinvestors United Kingdom Challenger Acquisitions Limited https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Challenger Acquisitions Limited RSS feed en Wed, 19 Dec 2018 08:21:24 +0000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Company Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20181217070004_13905264/ Mon, 17 Dec 2018 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20181217070004_13905264/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20181210070006_13896699/ Mon, 10 Dec 2018 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20181210070006_13896699/ <![CDATA[RNS press release - Director Dealings ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20181206070009_13893373/ Thu, 06 Dec 2018 07:00:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20181206070009_13893373/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20181127164502_13882492/ Tue, 27 Nov 2018 16:45:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20181127164502_13882492/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20181119133638_13872203/ Mon, 19 Nov 2018 13:36:38 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20181119133638_13872203/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20181119133131_13872183/ Mon, 19 Nov 2018 13:31:31 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20181119133131_13872183/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20181030110029_13847640/ Tue, 30 Oct 2018 11:00:29 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20181030110029_13847640/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20181024164310_13841326/ Wed, 24 Oct 2018 16:43:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20181024164310_13841326/ <![CDATA[News - Challenger looking at alternatives after NY Wheel developer appears to give up on the project ]]> https://www.proactiveinvestors.co.uk/companies/news/207725/challenger-looking-at-alternatives-after-ny-wheel-developer-appears-to-give-up-on-the-project-207725.html It looks like the final spin of the wheel for the New York Wheel Project, in which Challenger Acquisitions Limited (LON:CHAL) has a minority stake.

The developers of the giant observation wheel have issued a status update in which they admitted: "there appear to be no viable options for financing the balance of the work required to complete the project".

READ: Challenger Acquisitions updates on development of the New York Wheel and The Odyssey in Dallas

"For all the stakeholders in the NYW Project, this is definitely not a good development assuming the project does in fact not proceed,” said Mark Gustafson, the chief executive officer of Challenger.

The developers are now planning to maximise “potential cash recovery” from the design-build team and its parents. Gustafson stressed that, aside from being a minority shareholder, it is not involved in any litigation connected to this project.

“Since our company was not expecting a return from this investment for several years, we are continuing to seek out, evaluate and review a potential project that can utilise the public company platform in a manner that makes sense from a financial and regulatory perspective,” Gustafson said.

@nytimes: "Tracking the Progress of 2016’s Works" https://t.co/SAlWSjPh2X @HeleneStapinski #statenisland

— New York Wheel (@TheNewYorkWheel) January 23, 2017 ]]>
Wed, 24 Oct 2018 07:37:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/207725/challenger-looking-at-alternatives-after-ny-wheel-developer-appears-to-give-up-on-the-project-207725.html
<![CDATA[RNS press release - New York Wheel Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20181024070002_13839844/ Wed, 24 Oct 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20181024070002_13839844/ <![CDATA[RNS press release - Challenger Acquisitions - Interim Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180927153002_13807633/ Thu, 27 Sep 2018 15:30:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180927153002_13807633/ <![CDATA[News - Challenger Acquisitions bullish on New York Wheel prospects ]]> https://www.proactiveinvestors.co.uk/companies/news/205899/challenger-acquisitions-bullish-on-new-york-wheel-prospects-205899.html Challenger Acquisitions Limited (LON:CHAL) said it still believes that the developers of the New York Wheel are motivated to complete the project and that it is waiting for funding arrangements and a new contractor for the project to be finalised.

The leisure-and-entertainment-focused company has a US$3mln investment in New York Wheel Investors LLC, which operates the 192-metre tall wheel being built on the New York Harbour.

READ: Challenger Acquisitions expects investments in giant observation wheel projects to pay off

The wheel is expected to become a major tourist attraction, providing views across the Big Apple.

Construction of the NYW has been postponed since the dismissal of contractor, Mammoet-Starneth, in July last year but the operator has been taking steps to get the project rolling again.

“Looking forward we expect an update from the developers of the New York Wheel Project and we are continuing to seek out, evaluate and review a potential project that can utilise the public company platform in a manner that makes sense from a financial and regulatory perspective,” CEO Mark Gustafson said in a statement on Thursday.

The company said it had raised £400,000 of funding through the issue of new unsecured convertible notes during the first six months of 2018, which has enabled the company to continue operating this year.

Challenger reported a loss of £298,000 in the first six months of the year – down from a loss of £560,000 in the same period a year ago. It said the result was driven primarily by regulatory and financing costs.

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Thu, 27 Sep 2018 10:51:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/205899/challenger-acquisitions-bullish-on-new-york-wheel-prospects-205899.html
<![CDATA[News - Challenger Acquisitions updates on development of the New York Wheel and The Odyssey in Dallas ]]> https://www.proactiveinvestors.co.uk/companies/news/204820/challenger-acquisitions-updates-on-development-of-the-new-york-wheel-and-the-odyssey-in-dallas-204820.html Challenger Acquisitions Limited (LON:CHAL) has provided updates on its various projects, including the development of the New York Wheel and The Odyssey in Dallas.

The company noted that it has been reported that the developers of the New York Wheel have applied for an amendment to the original settlement agreement, including extending the standstill period to 7 January 2019.

READ: Challenger Acquisitions: New York Wheel developers have applied for extension to settlement agreement

It said additional meaningful developments on the New York Wheel will be reported in due course.

The group added that the developers of The Odyssey have reported that the Dallas City Plan Commissioners have approved the zoning changes for the land in South Dallas for a new entertainment area, which would include a Giant Observation Wheel called The Odyssey.

Challenger said the next stage is a review and approval by the Dallas City Council.

The company also announced that, further to its announcement on July 31, it has received the first £35,000 of the loan repayment from Star Sanctum ahead of the scheduled 30 September deadline.

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Thu, 13 Sep 2018 09:20:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/204820/challenger-acquisitions-updates-on-development-of-the-new-york-wheel-and-the-odyssey-in-dallas-204820.html
<![CDATA[RNS press release - Company Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180913084501_13789441/ Thu, 13 Sep 2018 08:45:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180913084501_13789441/ <![CDATA[News - Challenger Acquisitions: New York Wheel developers have applied for extension to settlement agreement ]]> https://www.proactiveinvestors.co.uk/companies/news/204301/challenger-acquisitions-new-york-wheel-developers-have-applied-for-extension-to-settlement-agreement-204301.html Challenger Acquisitions Limited (LON:CHAL) said the developers of the New York Wheel project have applied for an extension of a settlement agreement to get the project back on track.

The entertainment and leisure investment company said parties involved in the settlement had agreed to extend the September 5 deadline to September 11 in order to negotiate an amendment to the settlement agreement, including an extension of the standstill period.

READ: Challenger Acquisitions' shares jump as £544,556 convertible loan notes cancellations boosts firm’s debt position

The project was given the original deadline by the Delaware bankruptcy court to take steps, such as hiring a new contractor, to recommence construction on the project, which ran into legal difficulties when building contractor Mammoet-Starneth walked off the project in May 2017 and filed for bankruptcy in December.

Challenger also said in the announcement that it had allotted 47,593,700 new ordinary shares of £0.01 each comprising 47.5mln shares for the conversion of £95,000 of the remaining original convertible notes issued in 2015 and a further 93,700 shares in relation to interest on this convertible note.

The firm added that the shares were expected to be admitted to trading on 12 September.

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Thu, 06 Sep 2018 07:32:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/204301/challenger-acquisitions-new-york-wheel-developers-have-applied-for-extension-to-settlement-agreement-204301.html
<![CDATA[RNS press release - New York Wheel Update and Conversion of Note ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180906070003_13780544/ Thu, 06 Sep 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180906070003_13780544/ <![CDATA[News - Challenger Acquisitions' shares jump as £544,556 convertible loan notes cancellations boosts firm’s debt position ]]> https://www.proactiveinvestors.co.uk/companies/news/203872/challenger-acquisitions-shares-jump-as-544556-convertible-loan-notes-cancellations-boosts-firms-debt-position-203872.html Challenger Acquisitions Limited (LON:CHAL) saw its shares jump on Wednesday following news that the firm has cancelled £544,556 in convertible loan notes and will record a gain on the transaction and the related interest savings.

The group said it had executed a Convertible Note Purchase Agreement with two existing and independent convertible note holders.

READ: Challenger Acquisitions agrees loan repayment plan with Star Sanctum owner

Prior to signing of the agreement, the firm said, its last remaining holder of the original 6 May 2015 convertible notes held £639,556 of convertible notes and had received 12% interest up to 31 December 2016.

Challenger said the note holder had agreed to transfer £95,000 of these convertible notes to another existing note holder and to transfer, at no cost, the remaining £544,556 - £639,556 less £95,000 - of notes back to the company.

It added that the note holder also agreed to forgive all interest owing from 1 January 2017 to closing of this transfer, which approximates to £115,000.

Mark Gustafson, Challenger's chief executive officer, said, "This reduction in the overall debt level and the related interest savings has been a very important development for Challenger in order to move the Company forward.”

In early morning trading, Challenger shares were 37.5% higher at 0.33p.

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Thu, 30 Aug 2018 09:46:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/203872/challenger-acquisitions-shares-jump-as-544556-convertible-loan-notes-cancellations-boosts-firms-debt-position-203872.html
<![CDATA[RNS press release - Reduction in Convertible Notes by £544,000 ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180830070005_13772205/ Thu, 30 Aug 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180830070005_13772205/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180803102002_13743151/ Fri, 03 Aug 2018 10:20:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180803102002_13743151/ <![CDATA[News - Challenger Acquisitions agrees loan repayment plan with Star Sanctum owner ]]> https://www.proactiveinvestors.co.uk/companies/news/201890/challenger-acquisitions-agrees-loan-repayment-plan-with-star-sanctum-owner-201890.html Challenger Acquisitions Limited (LON:CHAL) has agreed on a repayment plan regarding its loan to the owner of the previously cancelled Star Sanctum event.

The entertainment and leisure investment group said the owner had agreed to repay the full £100,000 loan commencing with a £35,000 payment on or before 30 September 2018, then quarterly payments with the balance on or before 30 June 2019.

READ: Challenger Acquisitions to begin legal action following cancellation of Star Sanctum event

In return, Challenger said it had agreed to not take any legal action against the owner on the condition that the payments were completed as agreed.

The Star Sanctum event had originally been scheduled for early May this year, was cancelled due to inadequate ticket sales and a resulting cash deficit to fund the appearances of actors at the event.

Mark Gustafson, Challenger's Chief Executive Officer, said: "Under the circumstances, this is a mutually beneficial outcome for both parties and we look forward to receiving these payments."

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Tue, 31 Jul 2018 07:52:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/201890/challenger-acquisitions-agrees-loan-repayment-plan-with-star-sanctum-owner-201890.html
<![CDATA[RNS press release - Additional Company Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180731070007_13736826/ Tue, 31 Jul 2018 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180731070007_13736826/ <![CDATA[News - Challenger Acquisitions updates on AGM location and projects ahead of investor conference call ]]> https://www.proactiveinvestors.co.uk/companies/news/201065/challenger-acquisitions-updates-on-agm-location-and-projects-ahead-of-investor-conference-call-201065.html Challenger Acquisitions Limited (LON:CHAL) has provided an update on the reasoning for its AGM location and several projects ahead of an investor conference call.

The leisure and entertainment investment company said the decision to hold the annual general meeting in Zurich, Switzerland, which sent its stock soaring last Wednesday, had been taken for purely cost-saving reasons as both the chief financial officer and company secretary had office locations there.

READ: Challenger Acquisitions spins higher as it announces surprise shareholder conference call

Regarding its New York Wheel (NYW) project, the company said the settlement of the legal matters between the NYW and its former contractor should allow the NYW to finalise its funding arrangements and to hire a new contractor.

Elsewhere, the firm’s Dallas Wheel Project, branded “The Odyssey” was awaiting the outcome of planning and city commission votes scheduled for the summer regarding the re-zoning of the seven acres of land secured for its construction for entertainment purposes.

Challenger added that it expected to make an announcement shortly regarding the outcome of its actions to recover a £100,000 loan from the owner of the Star Sanctum event, which was cancelled in April.

Financially, the firm said it was actively working to reduce the burden of past convertible note financing which would allow it to move forward with securing new projects, with an initial step to address to be announced in the short term.

Mark Gustafson, Challenger's chief executive, said "The first half of 2018 was very challenging and now we do expect positive developments with the NYW, Dallas and Star Sanctum projects over the balance of this year. Our cost structure is very tight, and we will continue to improve the quality of our public company platform."

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Wed, 18 Jul 2018 14:38:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/201065/challenger-acquisitions-updates-on-agm-location-and-projects-ahead-of-investor-conference-call-201065.html
<![CDATA[RNS press release - Company Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180718135505_13722807/ Wed, 18 Jul 2018 13:55:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180718135505_13722807/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180713140019_13717685/ Fri, 13 Jul 2018 14:00:19 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180713140019_13717685/ <![CDATA[RNS press release - Shareholder Conference Call ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180713093003_13717051/ Fri, 13 Jul 2018 09:30:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180713093003_13717051/ <![CDATA[RNS press release - Replacement - Annual Report and Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180706114659_13708928/ Fri, 06 Jul 2018 11:46:59 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180706114659_13708928/ <![CDATA[RNS press release - Annual Report and Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180706070003_13707856/ Fri, 06 Jul 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180706070003_13707856/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180510101502_13636206/ Thu, 10 May 2018 10:15:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180510101502_13636206/ <![CDATA[News - Challenger Acquisitions shares jumps, boosted by news of share buying from its chief executive ]]> https://www.proactiveinvestors.co.uk/companies/news/196534/challenger-acquisitions-shares-jumps-boosted-by-news-of-share-buying-from-its-chief-executive-196534.html Challenger Acquisitions Limited (LON:CHAL) jumped nearly 12% higher on Tuesday, boosted by news of share buying from its chief executive.

In a statement, the AIM-listed firm said it has been notified that Gustafson purchased 750,000 shares in the company on May 2 and a further 1,25mln shares on May 4, with both transactions made at a price of 0.3p per share.

READ: Challenger Acquisitions refocuses on Texas and New York Wheel projects

The leisure and entertainment investment group said that following these purchases, Gustafson now holds a total of 4.15mln shares in Challenger Acquisitions representing 1.8% of the total issued share capital of the company.

In early trading, Challenger Acquisitions was the London market’s biggest gainer, up 11.9% to 0.38p.

At the end of April, Challenger Acquisitions said it has refocused its efforts on observation wheel projects in both Texas and New York as the company announced it had streamlined its corporate profile in full-year results.

The company said most of the main components for its New York Wheel Project were now complete, with the components for the four 275-foot legs being stored in Brooklyn ready to be assembled on site.

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Tue, 08 May 2018 08:34:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/196534/challenger-acquisitions-shares-jumps-boosted-by-news-of-share-buying-from-its-chief-executive-196534.html
<![CDATA[RNS press release - Director Dealings ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180508070012_13631808/ Tue, 08 May 2018 07:00:12 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180508070012_13631808/ <![CDATA[News - Challenger Acquisitions refocuses on Texas and New York Wheel projects ]]> https://www.proactiveinvestors.co.uk/companies/news/196024/challenger-acquisitions-refocuses-on-texas-and-new-york-wheel-projects-196024.html Challenger Acquisitions Limited (LON:CHAL) has refocused its efforts on observation wheel projects in both Texas and New York as the company announced it had streamlined its corporate profile in full-year results.

The leisure and entertainment investment company said most of the main components for its New York Wheel Project were now complete, with the components for the four 275-foot legs being stored in Brooklyn ready to be assembled on site.

READ: Challenger Acquisitions to begin legal action following cancellation of Star Sanctum event

The group added that the operators of the New York project, New York Wheel Investors LLC, were in advanced discussions to hire American Bridge Company, an experienced engineering and construction firm, as contractor for the project.

This followed the termination of a contract with the original wheel erectors in mid-2017 due to a contractual dispute, with Challenger saying it expected construction on the wheel to recommence in the short-term.

Meanwhile, the group said a seven-acre parcel of land had been secured for the Eye of Texas observation wheel project in Dallas, with activity and development set to increase.

Challenger has already invested US$300,000 in the project, with an option to invest up to US$1mln and to become an operator of the wheel once it has been constructed.

The firm also said it had successfully disposed of its ownership interest in Starneth Europe BV and Starneth Holding BV, following an unsuccessful attempt to secure a contract to construct another observation wheel in Jakarta.

Challenger said the disposal removed a significant cash drain while also maintaining the potential to receive up to US$6mln in fees less a payment of €1.25mln upon the closing of at least two major development projects by Starneth until January 2019.

The company added that with the disposal of Starneth, its heavy cash burn had come to an end and that changes to the structure of the board, including the departure of three directors over the year, had allowed it to achieve significant cash savings and to be able to pay all external vendors for work performed in 2016 and 2017.

Challenger also saw its pre-tax losses from continuing operations narrow during the year, down to £999,000 compared to £1.9mln the year before.

The firm also said it had generated £600,000 in cash net of fees from financing activities, with cash used in operations totalling £592,000 for the year.

Mark Gustafson, Challenger chief executive, said: “The year under review has been one of stabilisation for Challenger, as we have looked to re-focus our strategies, identify new opportunities for investment, and ultimately ensure we are positioned for growth.”

Challenger shares were steady at 0.28p in lunchtime trading Monday.

--Adds share price--

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Mon, 30 Apr 2018 07:49:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/196024/challenger-acquisitions-refocuses-on-texas-and-new-york-wheel-projects-196024.html
<![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180430070011_13622757/ Mon, 30 Apr 2018 07:00:11 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180430070011_13622757/ <![CDATA[News - Challenger Acquisitions to begin legal action following cancellation of Star Sanctum event ]]> https://www.proactiveinvestors.co.uk/companies/news/195327/challenger-acquisitions-to-begin-legal-action-following-cancellation-of-star-sanctum-event-195327.html Challenger Acquisitions Limited (LON:CHAL) has said it will begin legal proceedings to recoup loan costs following the cancellation of the Star Sanctum event.

The leisure and entertainment company said it was seeking to realise the personal guarantee for its £100,000 loan as provided by Jane Lowther, the owner of Star Sanctum.

WATCH: Challenger Acquisitions invests in Texas observation wheel

Originally scheduled for May 2018, Challenger revealed that the event had been cancelled following inadequate ticket sales and a resulting cash deficit to fund the appearances of actors at the event, with Benedict Cumberbatch and Chiwetel Ejiofor being scheduled to appear.

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Thu, 19 Apr 2018 07:18:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/195327/challenger-acquisitions-to-begin-legal-action-following-cancellation-of-star-sanctum-event-195327.html
<![CDATA[RNS press release - Update on Star Sanctum Event ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180419070002_13610144/ Thu, 19 Apr 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180419070002_13610144/ <![CDATA[RNS press release - Shareholder Conference Call ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180329070003_13585893/ Thu, 29 Mar 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180329070003_13585893/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180314091502_13566468/ Wed, 14 Mar 2018 09:15:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180314091502_13566468/ <![CDATA[RNS press release - Redemption and conversion of Notes ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180306070002_13555568/ Tue, 06 Mar 2018 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180306070002_13555568/ <![CDATA[News - Challenger Acquisitions secures stars and revamps website for Star Sanctum fan convention ]]> https://www.proactiveinvestors.co.uk/companies/news/192410/challenger-acquisitions-secures-stars-and-revamps-website-for-star-sanctum-fan-convention-192410.html Challenger Acquisitions Limited (LON:CHAL) revealed it has so far secured eleven actors for the upcoming Star Sanctum convention to be held in May 2018.

The leisure-and-entertainment-focused company said in an update that a variety of television and film actors have been engaged for the convention, including Benedict Cumberbatch and Chiwetel Ejiofor.

WATCH: Challenger Acquisitions invests in Texas observation wheel

Challenger also said that the Star Sanctum website has been altered with additional functionalities to facilitate more personalised purchasing options for customers, including private meetings with actors and concierge services.

The convention will be held from May 5 to 7 at the Mermaid Centre in London.

Mark Gustafson, Challenger's chief executive said: "Fan convention events have proven to be incredibly popular in the US thanks to the unique opportunity they provide attendees with to meet the stars of their favourite film or television show."

He added: "We are delighted to be supporting this event, which could be the first of many exciting opportunities to come."

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Thu, 01 Mar 2018 08:15:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/192410/challenger-acquisitions-secures-stars-and-revamps-website-for-star-sanctum-fan-convention-192410.html
<![CDATA[RNS press release - Stars Secured for Star Sanctum Event ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180301070005_13550109/ Thu, 01 Mar 2018 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180301070005_13550109/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180202162404_13520521/ Fri, 02 Feb 2018 16:24:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180202162404_13520521/ <![CDATA[Media files - Challenger Acquisitions invests in Texas observation wheel ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/8633/challenger-acquisitions-invests-in-texas-observation-wheel-8633.html Thu, 18 Jan 2018 12:11:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/8633/challenger-acquisitions-invests-in-texas-observation-wheel-8633.html <![CDATA[News - Challenger Acquisitions invests in second giant wheel project, this time in Texas ]]> https://www.proactiveinvestors.co.uk/companies/news/190224/challenger-acquisitions-invests-in-second-giant-wheel-project-this-time-in-texas-190224.html Challenger Acquisitions Limited (LON:CHAL) has invested in a second giant observation wheel project, this time in Dallas, Texas.

The AIM-quoted firm has invested US$300,000 towards the pre-development costs of the Eye of Texas, with the option to invest up to US$1mln in this first tranche. The remainder of the US$3mln of pre-development costs is being raised by local developers.

READ: Challenger Acquisitions clarifies position re Mammoet-Starneth

Challenger said the decision to invest in the Texas project is in line with its strategy to acquire interests in the leisure and attractions sector that offer both near and long-term revenue prospects.

It also complements its US$3mln equity stake in a similar project in the New York wheel which is currently being built on the New York Harbour.

A team of developers has been working on the EoT for three years now, during which time “significant equity” has been invested and planning has commenced.

A seven acre plot of land has been contractually secured in the Dallas-Fort Worth area where the 165m wheel will sit. To put that in perspective, the London Eye is just 125m high.

WATCH: Challenger Acquisitions confirms official launch of Star Sanctum

Once the EoT has been constructed, Challenger will have the opportunity to operate it.

“We are incredibly excited to have now made an investment in our second Giant Observation Wheel Project, marking an excellent start to 2018,” said chief executive Mark Gustafson.

“The Eye of Texas is highly complementary to our investment in the New York Wheel.

“An entertainment complex and the improvements to mass transportation will attract tourists outside of this highly populated area of 7.2mln people, and as such we anticipate strong traffic to the EoT.”

To fund its initial investment, Challenger has received the remaining £400,000 from its £1mln convertible note facility. 

Shares jumped 21.5% to 0.73p at the opening bell.

--Updates for share price--

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Thu, 18 Jan 2018 08:16:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/190224/challenger-acquisitions-invests-in-second-giant-wheel-project-this-time-in-texas-190224.html
<![CDATA[RNS press release - Investment in New Giant Observation Wheel Project ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180118070004_13500403/ Thu, 18 Jan 2018 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180118070004_13500403/ <![CDATA[RNS press release - Allotment of Shares re Convertible Notes ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180111145852_13493584/ Thu, 11 Jan 2018 14:58:52 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20180111145852_13493584/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20171229070003_13479777/ Fri, 29 Dec 2017 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20171229070003_13479777/ <![CDATA[News - Challenger Acquisitions clarifies position re Mammoet-Starneth ]]> https://www.proactiveinvestors.co.uk/companies/news/188997/challenger-acquisitions-clarifies-position-re-mammoet-starneth-188997.html Challenger Acquisitions Ltd (LON:CHAL) remains confident that the stalled New York Wheel (NYW) project will get rolling again soon.

The group believes too many people have a vested interest in getting the iconic giant observation wheel – New York’s answer to the London Eye – up and running for the future of the project to remain up in the air for too long.

WATCH: Challenger Acquisitions confirms official launch of Star Sanctum

Challenger noted that most of the main components are already complete, and the components for the four 300’ legs are stored in Brooklyn and ready to be assembled on site.

It also observed that some US$400mln has been spent to date on the project and although there will be more legal developments, these will ultimately determine the financial exposure for the original design-build company (Mammoet-Starneth), and not the future of the NYW project.

Talking of Mammoet-Starneth, it recently filed for protection from its creditors; Challenger sought to quash any concerns shareholders might have about this development by clarifying that the NYW project is owned by New York Wheel Investors LLC, which is a separate company to Challenger, and that Starneth LLC, which is part of the legal contractual dispute with the original wheel erectors, has never been owned by Challenger.

Any potential future payments to be received by Challenger will be from Starneth Europe or Starneth Holdings, which the company previously owned.

READ: Challenger Acquisitions has "tremendous confidence" construction of NY Wheel project will recommence in the near-term

"With a US$3mln equity stake in the New York Wheel Project we look forward to, and have every confidence in full construction work recommencing again in the near future," said Mark Gustafson, the chief executive officer of Challenger. 

“We believe that there are significant vested interests to see the NYW Project become very active again in the short term,” he added. 

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Tue, 19 Dec 2017 07:54:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/188997/challenger-acquisitions-clarifies-position-re-mammoet-starneth-188997.html
<![CDATA[RNS press release - New York Wheel Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20171219070003_13470035/ Tue, 19 Dec 2017 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20171219070003_13470035/ <![CDATA[Media files - Challenger Acquisitions confirms official launch of Star Sanctum ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/8499/challenger-acquisitions-confirms-official-launch-of-star-sanctum-8499.html Wed, 06 Dec 2017 12:38:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/8499/challenger-acquisitions-confirms-official-launch-of-star-sanctum-8499.html <![CDATA[News - Challenger Acquisitions reveals dates of first action film fan convention to be run by Star Sanctum ]]> https://www.proactiveinvestors.co.uk/companies/news/188339/challenger-acquisitions-reveals-dates-of-first-action-film-fan-convention-to-be-run-by-star-sanctum-188339.html Challenger Acquisitions Limited (LON:CHAL) said the first action film fan convention to be run by Star Sanctum will be held in May next year.

Star Sanctum is the name of the private company Challenger is backing; it is set to launch with a three-day event in London running from May 5-7.

READ: Challenger Acquisitions has "tremendous confidence" construction of NY Wheel project will recommence in the near-term

Star Sanctum will provide a select number of paying attendees with a chance to do all the usual fan convention stuff, such as attend seminars, get autographs and photos of the stars of recent action hero movies.

Challenger has provided a £100,000 loan agreement to Star Sanctum to support the launch of its first convention in London.

“Star Sanctum has identified a very unique and growing business opportunity; these events are incredibly popular and lucrative in North America, where there is a track record of success dating back to 1970,” said Mark Gustafson, the chief executive officer of Challenger.

 

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Wed, 06 Dec 2017 08:19:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/188339/challenger-acquisitions-reveals-dates-of-first-action-film-fan-convention-to-be-run-by-star-sanctum-188339.html
<![CDATA[RNS press release - Launch of Star Sanctum Event ]]> https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20171206070003_13455189/ Wed, 06 Dec 2017 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10692/LSE20171206070003_13455189/