RNS Number:6266H
Charlton Athletic PLC
14 August 2006


CHARLTON ATHLETIC PLC


14th August 2006


PROPOSED CANCELLATION OF AIM ADMISSION, PROPOSED AMENDMENTS TO ARTICLES AND
NOTICE OF EXTRAORDINARY GENERAL MEETING


The board of Charlton Athletic PLC (the "Company") announces that it is
recommending to shareholders the cancellation of admission of the Company's
ordinary shares to trading on AIM. The Company is sending a circular to
shareholders convening an Extraordinary General Meeting on 6th September 2006 to
allow shareholders to vote on the proposed resolutions. If these proposed
resolutions are approved by shareholders it is intended to effect the
cancellation on or about the 14th September 2006.

The text of the Chairman's letter enclosed in the circular to shareholders is
appended below.


For further information please contact:

Charlton Athletic PLC
Nigel Capelin (Deputy Chief Executive) - 020 8333 4000

Teather & Greenwood
Michael Seabrook (Sales) / Tom Hulme (Corporate Finance) - 020 7426 9000


Dear Shareholder



Cancellation of Admission of Securities to AIM



In March 1997 the Company's shares were admitted to the Alternative Investment
Market ("AIM") of the London Stock Exchange, raising #6m from directors,
supporters and institutional investors to develop the west stand at The Valley
and to provide working capital. Subsequently, your board and other shareholders
have invested a further #22m through the issue of additional ordinary shares
that has enabled the Company to develop further The Valley stadium and other
infrastructure assets. This investment has diluted institutional holdings to
approximately 4% of the issued share capital. Your board now feels that there is
little further prospect of raising material funds through AIM and believes that
the ongoing cost and administrative burden of maintaining an AIM quotation
outweighs the benefit gained from it. Therefore, your board has decided to seek
the cancellation of admission of the Company's ordinary shares to trading on
AIM.



Following the cancellation of admission, the Company proposes to establish an
off market facility to be administered by the Company to allow shares in the
Company to be bought and sold.



The London Stock Exchange has been notified of the Company's wish to cancel
admission, with a preferred cancellation date of 14th September 2006, but in
accordance with AIM Rule 41 such cancellation is subject to the consent of the
members of the Company.  In order to effect the cancellation a special
resolution is required to be passed at an Extraordinary General Meeting ("EGM")
of the Company.  For a special resolution to be passed a 75% majority of those
attending the EGM, either in person or by proxy, must vote in favour of the
resolution.  I draw your attention to the resolution detailed in the attached
Notice of EGM.  The EGM is convened for 11.00 am on Wednesday, 6th September
2006 at The Valley, Floyd Road, London SE7 8BL.



Amendments to the Articles of Association



On the basis that the Company's ordinary shares cease to be admitted to AIM,
certain amendments need to be made to the Articles of Association to reflect
this.  The attached Notice of EGM sets out those amendments in detail.



Action to be taken



I further highlight the notes to the Notice of the EGM and the enclosed Form of
Proxy which, whether or not you propose to attend the meeting, you are urged to
complete and return to the Company's Registrars, Capita Registrars (Proxies),
P.O. Box 25, Beckenham, Kent BR3 4TU, so as to arrive not less than 48 hours
before the time appointed for the holding of the EGM.



Recommendation



The Directors believe that the cancellation of the admission to trading on AIM
is in the best interests of the Company and unanimously recommend to
shareholders to vote in favour of the resolutions to be proposed at the EGM.
Your Board, which controls the voting rights in respect of 65.5% of the issued
ordinary share capital of the Company, intends to vote in favour of the
resolutions.



Yours faithfully









Richard Murray

Chairman



END


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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