Update (0241C)

TIDMCHC

RNS Number : 0241C

Charles Street Capital PLC

01 March 2011

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.

**ENDS**

 
 For further information on the Company visit www.charlesstreetplc.com 
  or contact: 
 
 Nicholas Lee          Charles Street Capital         Tel: 0203 006 0260 
                        plc 
 Damian Conboy         Charles Street Capital         Tel: 0203 006 0260 
                        plc 
 Nick Naylor           Allenby Capital Limited        Tel: 0203 328 5656 
 Alex Price            Allenby Capital Limited        Tel: 0203 328 5656 
 Hugo de Salis         St Brides Media & Finance      Tel: 020 7236 1177 
                        Ltd 
 Elisabeth Cowell      St Brides Media & Finance      Tel: 020 7236 1177 
                        Ltd

This information is provided by RNS

The company news service from the London Stock Exchange

END

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Charles Street (LSE:CHC)
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