As a result of allegations made in two Internet publications against Jim Ellerton, the Company's Executive Chairman, and certain documentation received, Sefton announces that Mr Ellerton has temporarily stepped down from the Board of Directors of the Company (the "Board") while the Non-Executive members of the Board, in conjunction with the Company's lawyers and Nominated Adviser, conduct a full and thorough investigation into the alleged matters (the "Investigation"). Both Mr. Ellerton and the Non Executives believes this will be in the best interests of the Company.

While the Investigation is underway Mr Ellerton will continue to provide operational consultancy advice to the Group's operating businesses in California and Kansas USA.

Tags: Sefton Resources