News and Press Releases

Board Changes

23 April 2015

 

The board of Sefton (the “Board”) is pleased to announce the appointment of Raylene Whitford to the Board with effect from 22 April 2015. As announced on 31 March 2015, Ms Whitford was appointed as the Company’s Chief Financial Officer, initially a non-Board position, and today she has also been appointed as a director of the Company and Company Secretary. Ms 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 seven 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, Canada.

The Board also announces the resignation of Daniel Levi as Interim Executive Chairman and he has left the Board with effect from 22 April 2015 to pursue his other interests. The Board has also received notice from Clem Chambers (a Non-Executive Director) that he plans to stand down as a director of the Company in late April or early May. A further announcement will be made at the appropriate time.

As stated in the announcement of 2 February 2015, the Board has been actively seeking a new management team to take the Company forward and Ms Whitford’s appointment is the first step in this process. The Board has identified a short list of candidates with significant industry experience for both the role of Chief Executive Officer and as Non Executive Directors. Further announcements are anticipated shortly. Once these appointments have been made, it is the intention of the Board to seek the appointment of a new Non Executive Chairman.

The Board would like to express its appreciation for the work undertaken by Mr Levi over the last few months while the Company has gone through a difficult period of turnaround. In recognition of this the Board has approved an increase in his remuneration for the period from his appointment on 3 February 2015 from the previously announced £1 to £50,000.

Ms Whitford commented, “Dan will be sorely missed, not least by myself as we worked extensively together since February to take Sefton to where it is today. I share the same drive and integrity as Dan and I am delighted to be appointed to the Executive Board. I am fully committed to seeing Sefton through the next stage of its journey: rebuilding the asset base of an oil and gas company to deliver increased shareholder value.”

Mr Levi commented, “My appointment was always anticipated to be an interim one, and I believe the team and I have accomplished much in these last few months. It is now time for experienced operational oil and gas individuals to take the reins and drive the business forward. It has been a pleasure to work with the Sefton team and I can assure shareholders that I remain a committed supporter of both the Company and the Board.”

Visit www.seftonresources.com or contact:

Raylene Whitford, Chief Financial Officer Tel: 07867 372 738
Nick Harriss, Nick Athanas, Allenby Capital (Nomad) Tel: 020 3328 5656
Nick Bealer, Cornhill Capital (Broker) Tel: 020 7710 9612

 

Disclosures under Schedule 2 (g) of the AIM Rules for Companies

Appointment of Raylene Whitford

Full Name – Raylene Jessie Whitford

Age – 29

Current Directorships – London Insight Meditation (a company limited by guarantee with UK charity status); Stryker Petroleum Limited (a subsidiary of Sefton)

Past Directorships – None

Ms Whitford owns no common shares of no par value in the capital of the Company.

Daniel Levi

The following information was omitted from the disclosures under Schedule 2(g) of the AIM Rules for Companies relating to the appointment of Daniel Levi

Former name – David John Hopkins