News and Press Releases

Board Changes & Issue of Equity

8 May 2015

 

The board of Sefton (the “Board”) is pleased to announce the appointment of Jossy Rachmantio to the Board as a Non-Executive Director with immediate effect. Mr Rachmantio, an Engineer by training, has over 25 years experience in the energy industry. He spent his early career involved in engineering, construction and infrastructure projects in the energy sector in his native Indonesia. Mr Rachmantio recently been focused for the last decade in Oil and Gas Exploration and Production in Indonesia. He was a founder and Director of Mitra Energia Limited which was subject to a reverse takeover by AIM quoted Sound Oil plc in 2006. Mr Rachmantio was subsequently a member of the board of Sound Oil plc from 2006 to 2010, and served as Managing Director of the company’s Indonesian operations until Sound’s disposal of that part of the portfolio in 2012. Since 2013, Jossy has headed Bunga Mas International Limited which is engaged in Oil and Gas exploration and production in Indonesia.

Concurrently with Mr Rachmantio’s appointment, Clem Chambers has stepped down from the Board, in line with the announcement made by the Company on 23 April 2015. In accordance with the announcement of 24 February 2015, Mr Chambers has been issued 13,636,364 common shares of no par value in the capital of the Company (“Common Shares”) in settlement of his Director’s fees of £7,500 for the quarter to 31 March 2015 at the equivalent price of 0.055 pence per Common Share (the “New Shares”). The terms for the issue of the New Shares were previously announced on 24 February 2015. Following this issue of the New Shares, the Company will have a total of 2,846,972,443 Common Shares in issue. An application will be made for admission of the New Shares to trading on AIM with effect from 14 May 2015.

Raylene Whitford, CFO, commented, “I am delighted to announce that Jossy has joined the Board and will join us for the next stage of Sefton’s journey. Jossy brings in-depth experience, both technical and commercial, in the Energy sector, especially in relation to South East Asia. I would also like to express my utmost gratitude to Clem for his assistance and advice over recent months; his input and guidance has been invaluable.”

Clem Chambers, outgoing director, commented, "It has been a pleasure to work as an interim Non- Executive Director through Sefton's dramatic turnaround. Now the company is back on track, it is the perfect time to make way for resource industry professionals to capitalise on the progress achieved so far.”

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

 

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

Full Name – Jusuf (“Jossy”) Handri Rachmantio
Age – 54
Current Directorships
Arctic Bay Ventures Limited
Arctic Bay Energy Limited
Arctic Bay Resources Limited
Bunga Mas International Company Limited
Past Directorships
Sound Oil plc
Mitra Energia Limited
Mr Rachmantio owns no Common Shares