The problem is that the alternator is supplying enough voltage via the warning light to keep the relay's contacts closed.
This is due to the warning light AND the ignition (relay coil) both being connected to the RUN terminal of the ignition switch.
With the Bosch/Tyco type relays, once the relay coil is energized, it will remain energized until the voltage drops below 2 volts (usually around 1.2 volts).
As Joe (JFB) suggested, adding a diode in series with the charge indicator light's wire should solve the problem. The diode's "banded" end points towards the alternator.
John
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