Charlie's chief 'relaxed' about fall in share price

Shares in high profile orange juice company Charlie's have sunk 33 percent in value in the past two days.

The shares, which began trading on the NZX last week after the company's reverse takeover of Spectrum Resources fell another 3.1 cents, or 20.4 percent, to 12 cents yesterday after falling 2.9 cents on Tuesday. This follows completion by the company of a placement of 30 million shares at 10c each to professional investors.

Chief executive Stefan Lepionka was at a loss to explain the price fall yesterday, but was 'relaxed' about it.