News and Press Releases

Update on litigation

10 June 2015

 

Further to the announcement of 29 May 2015, the Company has received further details of the claim made by Jim Ellerton (a former Executive Chairman of Sefton) in the District Court of Denver, Colorado against Sefton, two of its directors and a former director which outlines unspecified damages in connection with his resignation from the board, the termination of the consulting contract with C&J Resources, Inc. (“C&J”) pursuant to which he was providing services and the completion of the transaction with Hawker Energy. 

The Company has retained legal counsel in Colorado and will vigorously defend against Mr. Ellerton’s claims and those of his former consultancy company, C&J, and related pension plan. The Company contends that the claims are without merit, and the Company is considering all possible counterclaims against Mr. Ellerton and C&J based on their own misconduct. The Company will provide a further update shortly.

Visit www.seftonresources.com or contact:

Raylene Whitford, Chief Financial Officer Tel: 020 7872 5570
Nick Harriss, Nick Athanas, Allenby Capital (Nomad) Tel: 020 3328 5656
Nick Bealer, Cornhill Capital (Broker) Tel: 020 7710 9612