Cancellation of Admission (5559I)

TIDMCHC

RNS Number : 5559I

Charles Street Capital PLC

16 June 2011

Charles Street Capital plc / EPIC: CHC / Market: AIM

16 June 2011

Charles Street Capital plc ('Charles Street' or 'the Company')

Cancellation of Admission

Charles Street Capital plc, the AIM listed natural resources investment company, announces that further to the announcement of 11 April 2011, the Company has been unable to complete the proposed acquisition of Bulgarian Mining Resources Ltd, which holds the 68.7 sq km Lehovo Precious and Base Metal Project ('Lehovo'), in the necessary time provided under the AIM Rules. The Board has been working hard to satisfy the relevant conditions of the proposed acquisition and the due diligence process is now largely finalised. The Company is awaiting formal approval from the Bulgarian Ministry of Mines regarding an alteration to the proposed work programme at Lehovo, and the Board is confident that this will be granted in due course.

As the transaction has not been concluded within the required timeframe the Company's admission to trading on AIM will be cancelled, with effect from 7 a.m. on Friday 17 June 2011 under AIM Rule 41. Once confirmation is received from the Bulgarian Ministry of Mines and the resulting transaction is approved by shareholders, the Company will apply for its Ordinary Shares to be re-admitted to AIM.

**ENDS**

 
 For further information on the Company visit www.charlesstreetplc.com 
  or contact: 
 
 Nicholas Lee          Charles Street Capital         Tel: 0203 006 0260 
                        plc 
 Greg Kuenzel          Charles Street Capital         Tel: 0203 006 0260 
                        plc 
 Roland Cornish        Beaumont Cornish Limited       Tel: 0207 628 3396 
 James Biddle          Beaumont Cornish Limited       Tel: 0207 628 3396 
 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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