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Sefton Resources provides corporate updates


Published Oct 19, 2015
Sefton Resources, Inc.

Sefton Resources says it has been agreed by the Board that Mr Clement Chambers and Mr Michael Hodges will be appointed as directors of the Company with effect from 7.30am on Friday, 23 October 2015. Mr Chambers will become Interim Chief Executive Officer and Mr Hodges a Non-Executive Director. Mr Keith Morris will stand down as a director of the Company with effect from 7.00am on Friday, 23 October 2015. Ms Raylene Whitford, the Company's CFO (non-Board) and Company Secretary, will cease her roles and leave the employment of the Company with effect from 7.30am on Friday, 23 October 2015. Mr Rachmantio will remain in his role during a handover period and has indicated his intention to stand down at or before the Annual General Meeting (see below).

Position of Nominated Adviser

Allenby Capital Limited, the Company's existing Nominated Adviser, has confirmed to the Board that it will cease to act as the Company's Nominated Adviser with effect from 7.00am on Friday, 23 October 2015 should the Proposed Directors be appointed with effect from 7.30am on Friday, 23 October 2015. A replacement Nominated Adviser has not yet been identified, and if such a replacement is not appointed prior to Allenby Capital Limited ceasing to act, then the common shares of no par value will be suspended from trading on AIM at 7.30am on Friday, 23 October 2015. 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.

Tags: Sefton Resources




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