Sefton Resources Inc Issue of Equity (8260R)
July 01 2015 - 3:00AM
UK Regulatory
TIDMSER
RNS Number : 8260R
Sefton Resources Inc
01 July 2015
1 July 2015
Sefton Resources, Inc.
("Sefton" or the "Company")
Issue of Equity
In accordance with the announcement of 24 February 2015, Mr
Clement Chambers, a former director of the Company, has been issued
13,636,364 common shares of no par value in the capital of the
Company (the "New Shares") in settlement of outstanding Director
fees.
Mr Chambers resigned as a Non-Executive Director on 8 May 2015,
however the Non-Executive Director package as contracted by the
previous executive management team, committed the Company to two
quarters of fees of GBP7,500 issued in shares at an equivalent
price 0.055 pence per Common Share regardless of whether the
position was retained for the entire period. The package also
provided for a further cash payment on receipt of the resignation
of the Director of GBP7,500, which was paid by the Company on the
date of his resignation.
The existing Non-Executive Directors do not have such a package
and only receive a cash payment of GBP7,500 at the end of each
quarter which is pro-rated for their time in service.
Following this issue of the New Shares due to this agreement,
the Company will have a total of 4,131,618,397 Common Shares in
issue. An application will be made for admission of the New Shares
to trading on AIM with effect from 7 July 2015.
Visit www.seftonresources.com or contact:
Raylene Whitford, Chief Financial Tel: 0207 872
Officer 5570
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Nick Harriss, Nick Athanas, Allenby Tel: 0203 328
Capital Limited (Nomad) 5656
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Nick Bealer, Cornhill Capital Tel: 020 7710
Limited (Broker) 9612
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Ben Romney, Buchanan (PR) Tel: 020 7466
5132
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This information is provided by RNS
The company news service from the London Stock Exchange
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