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Sefton Resources (SER)


Wednesday 14 October, 2015

Sefton Resources

Further re Proposed Board Changes

RNS Number : 1703C
Sefton Resources Inc
14 October 2015

14 October 2015

Sefton Resources, Inc.

("Sefton" or the "Company")

Update on the Proposed Board Changes


Further to the announcement of 12 October 2015, Jossy Rachmantio, the Executive Chairman of the Company, will meet today with Clement Chambers, the proposed Interim CEO, to discuss various matters in relation to the Board Changes (as announced and defined on 29 September 2015).  The Board of Directors of Sefton (the "Board") proposes to meet tomorrow afternoon to consider the outcome of the meeting between Mr Rachmantio and Mr Chambers, and it is anticipated that an update announcement will be made at 7.00am on Friday, 16 October 2015.

The key matters that Mr Rachmantio is seeking to discuss with Mr Chambers are:

·     the timing of the Board Changes;

·     the proposed future strategy of the Company;

·     the timing of the Company's Annual General Meeting and the business to be put to shareholders at that meeting ; and

·     the identification of a potential replacement Nominated Adviser and potential alternative trading facilities for the Company's common shares of no par value ("Common Shares").


As announced on 29 September 2015, Allenby Capital Limited, the Company's existing Nominated Adviser, has confirmed to the Board that while it will continue to act and support the current Board, it will resign at the same time as the Board Changes, and cooperate with any potential replacement Nominated Adviser.  Under the AIM Rules for Companies, any company that does not have a Nominated Adviser has its admission to trading on AIM immediately suspended, and if a new Nominated Adviser is not appointed within one month of the previous Nominated Adviser ceasing to act, then the admission to trading on AIM of its shares will be cancelled.

Visit or contact:

Jossy Rachmantio, Executive Chairman


Tel: 020 7872 5570


Nick Harriss, Nick Athanas, Allenby Capital (Nomad)


Tel: 020 3328 5656

Nick Bealer, Cornhill Capital (Broker)


Tel: 020 7710 9612

Tim Blythe, Camilla Horsfall, Blytheweigh (PR)


Tel: 020  7138 3224




This information is provided by RNS
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