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Challenger Acquisitions Details Appointment of New Directors

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Appointment of New Directors

Challenger Acquisitions Limited (LSE:CHAL), a leader in the Giant Observation Wheel (‘GOW’) industry, has announced it has appointed Mr. John Le Poidevin as Non-Executive Chairman and Mr. Richard Marin as a Non-Executive Director to its Board of Directors effective immediately.

As a result of these appointments, Mr. Gustafson, formerly Executive Chairman has been appointed Chief Executive Officer. Mr. Le Poidevin has also been added to the Company’s Audit Committee and Remuneration Committee.

John Le Poidevin is a senior non-executive based between Guernsey and London with significant experience in advising businesses in relation to their strategy, investment and financing, M&A matters, corporate governance and financial management.

Mr. Le Poidevin is the former Head of Consumer Markets at BDO in London, with an extensive breadth of experience in auditing and advising listed and large private businesses operating across a range of business sectors in the UK and overseas. He is currently involved in advising a number of businesses in the real estate, technology and consumer sectors.

Mr. Le Poidevin is a non-executive director of Market Tech Holdings Limited (AIM:MKT), SafeCharge International Group Limited (AIM: SCH), Stride Gaming plc (AIM:STR), International Public Partnerships Limited (LSE:INPP) and two non-listed GFSC-regulated funds. He is a graduate of the University of Exeter and Harvard Business School and a Fellow of the Institute of Chartered Accountants in England and Wales.

Mr. Le Poidevin was previously a consultant to Challenger and holds options over 100,000 ordinary shares at an exercise price of 40 pence, vesting over the three years to 29 July 2018.

Richard A. Marin is currently President and CEO of The New York Wheel, LLC. He is a finance industry executive with 37 years’ experience with previous positions including Chairman and CEO of AFI (USA) Inc, a major commercial property developer, former Chairman and CEO of Bear Stearns Asset Management, a member of the Management Committee of Bankers Trust Company, and Chairman and CEO of Deutsche Asset Management, Inc. He is a Founder and Partner of Beehive Ventures LLC, and is a General Partner of Green Visor Capital LLC. Mr. Marin was CEO of Ironwood Global LLC, a hedge fund, when it was self-liquidated in 2012.

Mr. Marin is a member of the faculty of the Johnson School at Cornell University where he is a Clinical Professor. He is Chairman Emeritus of the Johnson School’s Advisory Council and was elected to the Johnson School Hall of Honor in 2001. A 1975 graduate of Cornell University with a BA in economics and government, Mr. Marin received an MBA in finance from the Johnson School in 1976. He is also an adviser to Penbridge Advisers and is a director of CARE, the global relief and development agency.

Mark Gustafson, the Company’s Chief Executive Officer, said: “By adding Richard, with his recent experience in raising US$500 million in capital for the New York Wheel project in which we have a 2.4% interest, and John, with his extensive background in our sector and strong UK public company experience, we have substantially strengthened our Board and corporate governance requirements. We warmly welcome both of them at this transformational time for the Company as we look to strengthen our portfolio from our extensive pipeline of global GOW opportunities and believe they will be instrumental in this regard. Adding these valued new members to our current Board, we believe we now have a world class team with which to deliver on our objectives to generate revenues and significant shareholder value from GOW’s globally.”

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