Alecto Energy Takes 9.73% Stake In Charles Street Capital

LONDON (Dow Jones)--Alecto Energy PLC (ALO.LN), a resource investment company, said Wednesday it has taken a 9.73% share holding in Charles Street Capital PLC (CHC.LN). MAIN FACTS: -Alecto's GBP100,000 investment in Charles Street comprises 100 million ordinary shares in Charles Street at a price of 0.1 pence per share plus warrants to subscribe for a further 50 million new shares in Charles Street, exercisable at 0.25 pence per share for a period of two years from the date of admission of the placing shares to trading on AIM. -The investment forms part of a share placing carried out by Charles Street and announced Wednesday, which raised GBP805,000, before expenses, to invest in natural resource, mineral, metal and oil and gas companies. -As a condition of the investment, Alecto has agreed with Charles Street 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 Charles Street as non-executive director. -Shares of Alecto at 0926 GMT down 0.12 pence or 5.6%, at 2.1 pence, valuing the company at GBP2.2 million. Shares of Charles Street down 0.07 pence or 25%, at 23 pence, valuing the company at GBP1.1 million. -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, tapan.panchal@dowjones.com (END) Dow Jones Newswires June 30, 2010 05:29 ET (09:29 GMT)