Business
Convertible Note
Convertible Note.
About this update from Cindrigo Holdings Limited
[{"type":"text","content":"\n \nRNS Number : 5416F Challenger Acquisitions Limited 18 May 2017 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, WITHIN, INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.\n \n18 May 2017 \n \nChallenger Acquisitions Limited\n(\"Challenger\" or the \"Company\")\nConvertible Note \n \nChallenger Acquisitions Limited (LSE: CHAL) announces that it has setup a £500,000 unsecured convertible note (\"the Note\"), with CEO Mark Gustafson (\"the Noteholder\") being the first investor. The Note, which is to be used for general working capital purposes, is to be issued in tranches and to date £30,000 has been issued by the Company. \n \nChallenger CEO Mark Gustafson said: \"This investment demonstrates my commitment to the future of the Company. Following the restructuring of the business at the start of the year we will continue to pursue potential Giant Observation Wheel projects with Starneth, which would generate success fees for Challenger, as well as evaluating other potential new projects within the leisure and attractions sector.\" \n \nPrincipal terms of the Notes\n· The aggregate principal amount of the Note is £500,000, of which £30,000 has been issued to date\n· The Note is unlisted, unsecured, transferable and must be redeemed by the Company on 17 May 2018, at the Company's option in cash or in Ordinary Shares at 3p per Ordinary Share\n· The Noteholder may convert all or part of the principal a...