TIDMSER

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 www.seftonresources.com or contact:

 
 Jossy Rachmantio, Executive Chairman        Tel: 020 7872 
                                              5570 
------------------------------------------  -------------- 
 Nick Harriss, Nick Athanas, Allenby         Tel: 020 3328 
  Capital (Nomad)                             5656 
------------------------------------------  -------------- 
 Nick Bealer, Cornhill Capital (Broker)      Tel: 020 7710 
                                              9612 
------------------------------------------  -------------- 
 Tim Blythe, Camilla Horsfall, Blytheweigh   Tel: 020 7138 
  (PR)                                        3224 
------------------------------------------  --------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

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October 14, 2015 02:01 ET (06:01 GMT)

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