Information  X 
Enter a valid email address

Sefton Resources (SER)

  Print   

Monday 19 October, 2015

Sefton Resources

Issue of Equity

RNS Number : 7017C
Sefton Resources Inc
19 October 2015
 

19 October 2015

Sefton Resources, Inc.

("Sefton" or the "Company")

Issue of Equity & Redundancy Settlement

 

The board of directors of Sefton (the "Board") has agreed redundancy terms with its last remaining and long serving employee in the USA, Ms Kris Short.  This settlement has been negotiated at a significant reduction to her contractual terms to reflect Sefton's position.  As part of this settlement, Ms Short has been issued with 50,000,000 new common shares of no par value ("Common Shares").  Ms Short has also been issued with options to subscribe for 50,000,000 new Common Shares at a price of 0.026 pence per Common Share, the average closing mid-market price for the previous 5 trading days, for a period of up to 3 years.  Ms Short, who is based in Denver, Colorado, will remain in her role until 31 January 2016, to help with the litigation with former Chairman, Mr Jim Ellerton, and the possible sale of the Company's oil and gas assets in Kansas.

Following this issue of the new Common Shares to Ms Short, the Company will have a total of 4,796,618,397 Common Shares in issue.  An application has been made for admission of the 50,000,000 new Common Shares to trading on AIM with effect from 22 October 2015. 

The Board would like to give its thanks to Ms Short for her long and exemplary service, during what have often been rather difficult times.

Visit www.seftonresources.com 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
The company news service from the London Stock Exchange
 
END
 
 
IOEUKAURVNARAAA

a d v e r t i s e m e n t