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Challenger Acquisitions ventures into world of action hero conventions

The first convention will take place in London next year and fans will get the chance to meet the actors and actresses of the latest action hero blockbusters

action hero fancy dress
Challenger reckons the convention could be duplicated throughout Europe

If you’ve ever wanted to meet the actors and actresses behind your favourite superhero characters, Challenger Acquisitions Limited’s (LON:CHAL) latest venture could be right up your street.

The leisure and entertainment group has teamed up with a private UK company to launch and operate film-focused conventions, starting with a three-day event in London next year.

Possibility of European roll-out

Challenger said the ticketed conventions would give fans the “unique opportunity” to meet the stars of recent action hero movies.

“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,” said Challenger chief executive Mark Gustafson.

“Although this opportunity is initially smaller in scope than the five potential projects we are currently reviewing, it does have significant growth potential.”

£100,000 loan to support first event

To get the ball rolling the AIM-listed firm has provided a £100,000 loan to the unnamed private company to support the initial launch of the events. That funding will help cover the venue, staff, marketing and guest (film star) costs.

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

The deal also gives Challenger the right to participate in future events, which Challenger believes could be “very attractive, high-profile opportunities”.

Quick facts: Challenger Acquisitions Limited

Price: 0.13 GBX

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