14th Oct 2009 12:13
Sefton Resources, Inc.
("Sefton" or the "Company")
Resignation of Director and Issue of Equity
Dated: 14 October 2009
The Company announces the resignation of Michael Anthony ("Tony") Ashton. Mr. Ashton has resigned with immediate effect in order to spend more time with his family and focus on his other business activities.
Further to the announcement made on 30 September 2009, Sefton has today made application for a total of 1,096,600 common stock of no par value ('New Shares') to be admitted to trading on AIM.
Following the issue of the New Shares the Company's issued ordinary share capital, as enlarged by the New Shares, will be 117,484,379 Ordinary Shares.
H. Barnum and J. Delmar-Morgan (including 1,052,313 held in the name of his wife) currently have 992,555 and 6,317,490 shares, representing 0.84% and 5.38% respectively. The announcement of the 30 September 2009 did not include the shares held by Mrs. Delmar-Morgan in the total figure or percentage.
Application has been made to the London Stock Exchange for the New Shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM. It is expected that admission will become effective and that trading will commence on 15 October 2009.
Jeremy Delmar-Morgan, the Company's Chairman, commented:
"The whole Board would like to thank Tony for all his hard work over the years and we will miss his wise counsel. Everyone at Sefton wishes him well for the future."
Tony Ashton commented:
"At the age of 74 I believe it is now time to step aside and let the Board identify a younger person to fill the role of Non-Executive Director."
Enquiries
Jeremy Delmar-Morgan, Chairman, Tel: 077 8900 4876
John James (Jim) Ellerton, CEO, Tel: 00 1 303 759 2700
Nick Harriss/Wye-Li Long, Blomfield Corporate Finance Ltd. (Nomad)
Tel: 020 7489 4500
Daniel Briggs/Alan Rooke, Religare Hichens Harrison plc (Broker)
Tel: 020 7382 7776
Sefton Resources is an AIM listed oil and gas production company. Its main core area of activity is in the East Ventura Basin in California, where it owns 100% of two oil fields, Tapia Canyon (heavy gravity oil) and Eureka Canyon (medium gravity oil), both of which have over twenty years of expected production life. In addition, Sefton has over 45,000 acres in the Forest City Basin of Eastern Kansas where Coal Bed Methane gases, as well as conventional oil and gas deposits, are targets.
Related Shares:
SER.L