Challenger Acquisitions Limited announced that Effective immediately, Mr. Mark Gustafson, the Chief Executive Officer of the Company, has resigned from that position and also as a director. Challenger has appointed two new directors, Mr. Jorgen Andersson and Mr. Lars Frithiof. Mr. Andersson has a broad background in, and a strategic knowledge of, the energy sector from a business and a governmental policy perspective. He was a former Minister of Interior & Minister of Energy in Sweden and was a member of the Swedish Central Bank, Chairman of Vattenfall and a Director of Sydkraft. Mr. Frithiof has a solid background in the energy sector both in the Nordics as well as in Central Europe. In addition, he been Deputy Chairman of the Swedish Pension Fund AP4 and several other business organisations. Mr. Frithiof was the CFO and most recently President & CEO of E.ON Sweden and a member of the Executive Committee for E.ON AG, Dusseldorf. Effective immediately, Mr. Jorgen Andersson has been appointed Chairman of Challenger and Mr. Lars Guldstrand ceased to be Chairman and has been appointed Chief Executive Officer of Challenger following the resignation of Mr. Gustafson.