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Challenger Acquisitions settles convertible loan note

The giant observation wheel investor has issued just over 4mln shares to pay off the £750,000 loan

several pods on a giant observation wheel
Challenger invests in giant observation wheel projects around the globe

Challenger Acquisitions Limited (LON:CHAL) has issued 4.2mln shares as it looks to pay off the 12% convertible loan note facility it extended back in May.

The shares were issued at a conversion price of 17.8p per share, slightly below the current market price, to settle the £750,128 loan.

A further 62,000 shares were also issued to cover the £11,000 of interest due up until the date of conversion.

Following this allotment, the total number of shares in issue is 21.2mln.

Shares were up 0.25p, or 1%, to 19.5p.

Quick facts: Challenger Acquisitions Limited

Price: 0.13 GBX

LSE:CHAL
Market: LSE
Market Cap: £410.2 k
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