Another day and another twist in the Sefton Resources (LON: SER) saga. Today we find out officially that the proposed new nomad Zai Corporate Finance have decided not to come on board as the new nomad. Of course some people already knew this over the weekend. Come on down Tom Winnifrith. What shareholders should know is; who has been secretly briefing Winnifrith behind the scenes virtually every step of the way? Step up Allenby Capital the current Sefton nomad. Allenby have over a considerable period of time not only been shadow directing Sefton, (which is in breach of their own as well as Aim Regulations and the Nomads code of conduct) but are guilty of maliciously leaking information to Winnifrith as part of their concerted smear campaign to thwart shareholders from installing a new board with new assets. Assets that are located in the Bahamas with a 4 Billion barrel recoverable resource potential.
As a journalist myself with over 15yrs involved in the media I can only tip my hat to the Crony capitalist Winnifrith who has like all journalists used his sources to get the information out into the public domain. It’s quite legitimate and fair game. No gripes here. It’s the nature of the beast.
However for the current nomad to deliberately pass inside information outside of the corporate sphere is reprehensible. It’s testament to the lengths Allenby are prepared to go to cover up what they have been doing within Sefton. They have been running the company and making most of the major corporate decisions. This is in direct contravention of Aim and nomad regulations.
For a nomad to bully and intimidate the new nomad (Zai) into withdrawing and leaking their name to a journalist (Winnifrith) thus opening up Zai to constant corrosive attacks, blog posts, emails and phone calls is beyond the pale. Within 24 hours of Allenby knowing who the new Nomad was it was leaked by them/Sefton. Just as the Letter of Requisition was also leaked to shareProphets and published before the official RNS. What’s happening here is that the rightful shareholders democratic mandate to install a new board with a new way forward is being sabotaged specifically by Allenby.
It is not for any nomad to dictate to shareholders the way forward for a company. Shareholders have exercised their democratic rights and spoken. We want the new board in and the old board out. That has been agreed. If that agreement is reneged upon we will issue a writ. As well as force back the EGM. If it means buying another 10% of Sefton we will. There are potentially tens of millions of dollars at stake here! This is a high stakes game and we will NOT FLINCH. The nomad is their to protect the integrity of the market. Its remit is not to take corporate decisions and leak inside information to smear and cause a disorderly market thus causing shareholders huge losses. Allenby will also receive a writ for compensation on behalf of ALL shareholders.
Allenby must resign immediately.