News and Press Releases

Result of EGM

30 January 2015

 

The Board of Directors of Sefton is pleased to confirm the results of the Extraordinary General Meeting (“EGM”) held on 30 January 2015:

Further to the announcement of 8 December 2014 (the "Announcement"), Sefton, the Bank of the West and Hawker Energy Inc. are continuing discussions to try to reach a mutually agreeable position in relation to the refinancing and potential restructuring of the Company’s wholly owned subsidiary, TEG USA Inc., and the proposed joint venture with Hawker, Tapia LLC. All feasible options are being explored, nothing has as yet been finalised and discussions and negotiations amongst the parties are ongoing.

An announcement will be made once negotiations have been completed or terminated.

  Votes for Votes against
Resolution 1 111,846,512 12,172
Resolution 2 110,586,960 1,274,390
Resolution 3 110,013,782 696,636


As a result, Sefton will proceed to close the sale of TEG USA, Inc. to Hawker Energy Inc., effective 1 February 2015.

Visit www.seftonresources.com or contact:

Keith Morris, Director   Tel: 0207 448 5111
Nick Harriss, Nick Athanas, Allenby Capital (Nomad) Tel: 0203 328 5656
Neil Badger, Dowgate Capital Stockbrokers (Broker) Tel: 01293 517744