Ann: Quarterly Activities and Cashflow Report , page-4

re: Ann: Quarterly Activities and Cashflow R... Announced 23 June 2010:-

"Alcyone Resources Limited (ASX: AYN; Alcyone or The Company) is pleased to confirm the allotment of 40 million shares at 2.5 cents to its non-executive Chairman, prominent Perth businessman Mr Charles Morgan, who has subscribed for shares worth $1 million, representing more than a quarter of the Companys current $3.7 million capital raising.
The allotment of the shares to Mr Morgan follows the receipt of shareholder approval at an Extraordinary General Meeting held on 18 June for Tranche Two of the share placement, comprising 56,000,000 shares ($1.4 million), and approval for Mr Morgan as a Director to participate in the placement.
As a result of his participation in the share placement, Mr Morgan will have increased his holding in Alcyone from 3,000,000 previously to 43,000,000 shares."

One of the reasons why I recently bought in at 2.5c