Yup, that Queen - Elizabeth II has bought shares in Alan McGee's latest venture...

THE QUEEN OF ENGLAND has bought shares in ALAN McGEE‘s Internet record label Poptones.

According to a report in this morning’s The Sun newspaper (October 30), HRH Elizabeth II has invested #50,000 in the company, estimated to give her a 2.27% share in the label.

Alan McGee, who also runs the trendy Radio 4 nightclub at the Notting Hill Arts Club in London, laughingly described as a “leather fetishist club” in this morning’s Sun, is quoted as saying: “This appeals to my sense of humour.”

Poptones‘ latest signing was ex-Undertones guitarist Damien O’Neill. O’Neill signed with the label approximately three weeks ago, and has already completed work on his debut solo album under the name A Quiet Revolution.

The album, also called ‘A Quiet Revolution’, was recorded at Kevin Shields‘ studio in London and will be released through Poptones in January.

A spokesperson for Poptones said: “It’s an instrumental album. The music is a cross between Egyptian-influenced music and My Bloody Valentine.”

In addition, O’Neill is to host a radio show on the Poptones website [url=] in the next couple of weeks, which will showcase his favourite songs.

O’Neill was previously the guitarist in seminal pop-punksters The Undertones and, following the band’s demise, helped form ’80s cult band That Petrol Emotion.