RNS1 Mar 2011 12:31
Charles Street Capital plc / EPIC: CHC / Market: AIM
1 March 2011
Charles Street Capital plc ('Charles Street' or the 'Company')
Update
Charles Street Capital plc, the AIM listed natural resources investment company, announces that the Board has decided not to pursue the proposed acquisition of Westcork Copper Mining Company Limited which was announced on 13 December 2010. Following further evaluation, the Board believes that the proposed acquisition would not be a suitable investment opportunity for the Company at the present time. The Board is committed to the Company's strategy to acquire or invest in projects and assets in the natural resource sector and is currently reviewing several other potential opportunities suitable for investment, one of which is at an advanced stage. The Board hopes to be in a position to provide shareholders with an update in the near future.
Shareholders should note that pursuant to Rule 15 of the AIM Rules for Companies (the 'AIM Rules') the Company's shares will remain suspended from trading until the Company undertakes a reverse takeover under Rule 14 of the AIM Rules or otherwise implements its investment policy. In the event that this does not place by 10 June 2011 then trading of the Company's shares on AIM will be cancelled.
Don't like the last sentence..."In the event that this does not place by 10 June 2011 then trading of the Company's shares on AIM will be cancelled"