Investment in Charles Street Capital plc

 

TIDMALO TIDMCHC 
 
RNS Number : 4752O 
Alecto Energy PLC 
30 June 2010 
 

    Alecto Energy plc / EPIC: ALO / Market: AIM / Sector: General Financial 
 
                  Alecto Energy plc ('Alecto' or 'the Company') 
                    Investment in Charles Street Capital plc 
 
Alecto Energy plc, the AIM listed resource investment company, is pleased to 
announce that it has taken a 9.73% shareholding in AIM listed Charles Street 
Capital plc ('CSC') as part of Alecto's strategy of building a portfolio of 
resource projects and investments in the natural resource sector. 
 
Alecto's GBP100,000 investment in CSC comprises 100,000,000ordinary shares in 
CSC at a price of 0.1 pence per share (the 'Placing Shares') plus warrants to 
subscribe for a further 50,000,000 new shares in CSC, exercisable at 0.25p per 
share for a period of two years from the date of admission of the Placing Shares 
to trading on AIM. This investment forms part of a share placing carried out by 
CSC and announced today, which raised circa GBP805,000 (before expenses) to 
invest in natural resource, mineral, metal and oil & gas companies.  CSC is 
focused initially on mining and resource opportunities in Africa, South America, 
Australasia and Central and Eastern Europe. 
 
Alecto Executive Director Damian Conboy said, "We believe our investment in CSC 
will provide Alecto with exposure to an array of potential investments in the 
resources sector, with high upside potential.  We have an active investment 
strategy and believe that by taking a position in CSC we can leverage our funds 
and reduce our project risk profile.  We are already evaluating a number of 
opportunities, the most advanced being the agreement with Bulgarian Mining 
Corporation Ltd ("BMC") as announced on 29 April 2010 and in that regard SRK 
Exploration Services are currently completing an assessment on BMC's uranium 
licences, which the Board believes have the potential to provide the Company 
with low entry cost access to high grade uranium assets in a stable political 
jurisdiction." 
 
As a condition of this investment, Alecto has agreed with CSC that Damian Conboy 
will join the management team to assist the company during its development 
phase. Greg Kuenzel, Alecto's Company Secretary, will join the board of CSC as a 
Non-Executive Director. 
 
                                    **ENDS** 
 
For further information, please visit www.alectoenergy.com or contact: 
 
+--------------+----------------------+---------------------+ 
| Damian       | Alecto Energy plc    | Tel: [phone]  | 
| Conboy       |                      |                     | 
+--------------+----------------------+---------------------+ 
| Greg Kuenzel | Alecto Energy plc    | Tel: [phone]  | 
+--------------+----------------------+---------------------+ 
| Nick Naylor  | Allenby Capital Ltd  | Tel: [phone]  | 
+--------------+----------------------+---------------------+ 
| Alex Price   | Allenby Capital Ltd  | Tel: [phone]  | 
+--------------+----------------------+---------------------+ 
| Hugo de      | St Brides Media &    | Tel: [phone]  | 
| Salis        | Finance Ltd          |                     | 
+--------------+----------------------+---------------------+ 
| Elisabeth    | St Brides Media &    | Tel: [phone]  | 
| Cowell       | Finance Ltd          |                     | 
+--------------+----------------------+---------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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