30th Jul 2010 08:49
Sefton Resources, Inc.
("Sefton" or the "Company")
Issue of Common Stock
30 July 2010
Sefton has today issued 14,951,000 Common Stock to the C & J Resources Inc. Pension Plan (the "Pension Plan") in settlement of accrued retirement provisions owed to John James Ellerton, a director of the Company, as previously reported in the Company's audited accounts. Mr. Ellerton is a beneficiary of the Pension Plan. The Company has today also issued 1,146,000 Common Stock to C & J Resources Inc. (the "Corporation") in settlement of costs incurred by the Corporation. Mr. Ellerton provides his services as a director of the Company through the Corporation.
The Pension Plan and Corporation are Related Parties of Mr. Ellerton as defined under the AIM Rules for Companies. The independent Directors (all Directors other than Mr. Ellerton), who have consulted with the Company's nominated adviser, believe the terms of the issue to the Pension Plan and the Corporation to be fair and reasonable in so far as shareholders are concerned.
The Company will make an application for the new Common Stock to be admitted to trading on AIM with effect from 5 August 2010. Following the issue of the new Common Stock, the Company will have 133,581,379 Common Stock in issue, and the holdings of Directors and Significant Shareholders will be as follows:
|
Shareholder |
Number of Common |
Percentage of |
|
|
Stock Held |
Common Stock Held |
|
Directors |
|
|
|
|
|
|
|
JJ Ellerton * |
21,620,152 |
16.19% |
|
J Delmar-Morgan ** |
6,317,490 |
4.73% |
|
H Barnum |
992,555 |
0.74% |
|
B Mackay |
211,720 |
0.16% |
|
|
|
|
|
Significant Shareholders |
|
|
|
|
|
|
|
TD Waterhouse Nominees |
14,098,626 |
10.55% |
|
Barclayshare Nominees |
10,236,170 |
7.66% |
|
LR Nominees |
9,833,203 |
7.36% |
|
Raven Nominees |
8,348,789 |
6.25% |
|
HSDL Nominees |
7,579,652 |
5.67% |
* This includes shares held by the Pension Plan, the Corporation and J Ellerton Consultants, all of which are Related Parties to Mr. Ellerton under the AIM Rules.
** This includes 1,052,313 Common Stock in the name of Mary-Elaine Delmar-Morgan, Mr. Delmar-Morgan's wife.
Enquiries
John James Ellerton, CEO - Tel: 001 303-759-2700
David Charles/John Gaensbauer, Sierra Partners LLC - Tel: 001 303-757-2510
Nick Harriss/Derek Crowhurst, Religare Capital Markets (Nomad) - Tel: 020 7444-0800
Daniel Briggs, Religare Capital Markets (Broker) - Tel: 020 7444-0500
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