Business
New Funding
New Funding.
About this update from Cindrigo Holdings Limited
[{"type":"text","content":"\n \nRNS Number : 1455V Challenger Acquisitions Limited 01 November 2017 \n\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, WITHIN, INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.\n \nFor Immediate Release \n 1 November 2017\nChallenger Acquisitions Limited\n(\"Challenger\" or the \"Company\")\n \nNew Funding \n \nChallenger Acquisitions Limited (LSE: CHAL) announces that it has it has received £250,000 (£237,500 net of fees) from the previously announced £1,000,000 unsecured convertible note facility due 8 June 2019 (\"Note Facility\"). This Note Facility was announced on 13 June 2017 and restated below. In total £600,000 has now been received from this facility.\n \nThe funds received will be used for general working capital purposes and to support the Company in its review of projects to complement the Company's US$3 million equity interest in the New York Wheel Project. \n \nPrincipal terms of the Note Facility\n· The aggregate principal amount is up to £1 million with a 24 month term.\n· The convertible note is unlisted, unsecured, transferable and must be redeemed by the Company on 8 June 2019, in cash unless it has been fully converted by then into ordinary shares of the Company (\"Ordinary Shares\"). \n· There are no conversions for the first 120 days, unless waived by the Company.\n· The maximum amount that can be converted in any 30 day period is 20% of the principl...