Sefton Resources Inc Company update (9564I)
March 31 2015 - 2:00AM
UK Regulatory
TIDMSER
RNS Number : 9564I
Sefton Resources Inc
31 March 2015
31 March 2015
Sefton Resources, Inc.
("Sefton" or the "Company")
Company Update
Update on potential sale of Kansas Assets
Further to the announcement of 24 February 2015, the board of
Sefton (the "Board") can provide an update on the discussions
regarding a potential future sale of TEG MidContinent Inc. and TEG
Transmission LLC, (collectively, the "Kansas Assets") which have
progressed. The Company has agreed terms to provisionally sell the
Kansas Assets, but there are a number of elements yet to be agreed.
A further update will be provided once the position is
clarified.
Appointment of CFO
The Board announces the appointment of Raylene Whitford as the
Company's Chief Financial Officer, (initially a non-Board
position). Miss Whitford is a Chartered Accountant (Institute of
Chartered Accountants in England and Wales) with business
experience in both her native Canada and the UK. She spent 7 years
working for KPMG LLP in London, where she worked with a number of
oil companies of various sizes and locations, before moving in 2014
to work for an independent oil drilling contractor in Alberta. Miss
Whitford will also take up day-to-day responsibility for the
Company's new head office in London (as announced on 23 March
2015), and has already gained familiarity with the Company having
been engaged as a consultant in February 2015 to assist with the
work around the lifting of the bank security (as announced on 20
March 2015) and the negotiations on the possible sale of the Kansas
Assets.
Dan Levi, Interim Executive Chairman stated; "The Board is
working hard to conclude the disposal of the Kansas Assets, as the
next step in turning the Company around and moving forward. The
appointment of Raylene is another important element in the
Company's progress. She brings both strong financial acumen and a
solid understanding of the oil industry."
Visit www.seftonresources.com or contact:
Daniel Levi, Executive Chairman Tel: 07912 864
195
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Nick Harriss, Nick Athanas, Allenby Capital Tel: 020 3328 5656
(Nomad)
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Nick Bealer, Cornhill Capital (Broker) Tel: 020 7710 9612
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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