logo-loader
Challenger Acquisitions Limited

Challenger Acquisitions agrees loan repayment plan with Star Sanctum owner

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

Money
Challenger said it had agreed to not take any legal action provided the payments were made

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."

Quick facts: Challenger Acquisitions Limited

Price: £0.00

Market: LSE
Market Cap: £390.05 k
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Cello Health reports good growth in profits and strong cash flow

Cello Health PLC's (LON:CLL) Mark Scott tells Proactive London they've seen good growth in profits and strong cash flow for the first half of the year said that he's confident about the rest of the year too. The group delivered net revenue of £54.5mln for the first six months of the year,...

5 minutes ago

2 min read