Readmission to trading on London Stock Exchange

RNS Number : 2619I

Challenger Acquisitions Limited

08 December 2015

 

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

This announcement is an advertisement and not a prospectus. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment or invitation  to  purchase, otherwise  acquire,  issue,  subscribe for,  sell  or otherwise  dispose  of  any  securities whatsoever in any jurisdiction. Investors should not purchase or subscribe for any transferable securities referred to in this announcement except on the basis of information contained in the prospectus in its final form published by Challenger Acquisitions Limited in connection with the admission of the Company's ordinary shares to the Official List of the UK Listing Authority and to trading on the main market for listed securities of London Stock Exchange plc.

Challenger Acquisitions Limited / Epic: CHAL / Sector: Leisure & Attractions

08 December 2015

Challenger Acquisitions Limited ("Challenger Acquisitions" or "the Company")

Readmission to trading on the London Stock Exchange

Challenger Acquisitions announces that following its acquisition of the Starneth Group and its investment in the New York Wheel Project the Company's ordinary share capital comprising of 13,325,681 ordinary shares of £0.01 each, have today been readmitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's ("LSE") Main Market for listed securities under the ticker 'CHAL'.  

Mark Gustafson, Chairman, commented: "We are delighted that Challenger Acquisitions has been readmitted to the LSE main market following our acquisition of Starneth, whose founders were actively involved in four of the six largest giant observation wheels in the world, including the iconic London Eye.  We are ideally positioned to become the leader in giant observation wheels ("GOW") and we now plan to hit the ground running through a pipeline of 25 potential GOW projects worldwide to selectively add to our portfolio. Our first investment consists of a 2.4% equity stake in the US$500 million New York Wheel Project on Staten Island in New York, which commenced construction in May of this year already.  Having had advanced discussions with multiple GOW developers during our suspension, we anticipate announcing a number of developments over 2016 to provide exciting newsflow to our shareholders."

Further Information

Following the acquisition of the Starneth Group, Challenger Acquisitions owns and operates a business specialising in the design and engineering of giant observation wheels and structures.  With Starneth's expertise in the sector, the Group offers a wide range of services to developers of giant observation wheels and structures worldwide, ranging from initial conceptual ideas, design only, to the construction, engineering, fabrication, erection and testing phases.

In addition, the Company has an investment of US$3 million representing a 2.4% interest in New York Wheel Investor LLC, a company that was set up to fund the equity component for the New York Wheel Project, which includes an approximate 630 foot high observation wheel with 36 capsules, a 68,000 square foot terminal and retail building, and a 950 space parking garage on Staten Island which is expected to be operational in 2017.

Capitalised terms in this announcement are as defined in the prospectus dated 2 December 2015 unless the context otherwise requires.

**ENDS**

For more information on Challenger Acquisitions please contact the below or visit www.challengeracquisitions.com:

Challenger Acquisitions Limited
Mark Gustafson	[phone]
Beaumont Cornish Limited (Financial Adviser)
Roland Cornish	[phone]
St Brides Partners Ltd (PR)
Lottie Brocklehurst, Felicity Winkles	[phone]

Notes to Editors:

Challenger Acquisitions (LSE: CHAL) is focused on the planning, financing, development, investment in and operation of giant observation wheels.  By combining its world class team of technical engineering and project management skills with proven international financial expertise, the Company is ideally positioned to become a leader in the giant observation wheel sector. 

The Company, which also has a 2.4% equity interest in the US$500 million New York Wheel Project, is currently focusing on appraising approximately 25 opportunities in its project pipeline where it believes that it can utilise its expertise.  With a team that has worked on four of the largest giant observation wheels constructed over the last 15 years, including the iconic London Eye, the Company is building on its unique position to deliver projects and generate shareholder value.

IMPORTANT NOTICE:

The information contained in this announcement is not for release, publication or distribution to persons in the United States, Australia, Canada or Japan or in any jurisdiction where to do so would breach any applicable law. No public offer of securities is being made by virtue of this announcement.

This announcement has been prepared for the purposes of complying with the applicable law and regulation of the United Kingdom and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws and regulations of any jurisdiction outside of the United Kingdom.

This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "targets", "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward looking statements include all matters that are not historical facts and involve predictions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company's business, results of operations, financial position, liquidity, prospects, growth or strategies and the industry in which it operates. Forward-looking statements speak only as of the date they are made and cannot be relied upon as a guide to future performance. Save as required by law or regulation, the Company disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements in this announcement that may occur due to any change in its expectations or to reflect events or circumstances after the date of this announcement.

Except as explicitly stated, neither the content of the Company's website, nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this announcement.

 

END

 

 

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