Sefton Resources Share Discussion Threads

[cyan] 20/9/2018 15:49

Its interesting that the offer of 0.0007p is based on the 'cash' held.

However; do you recall that BMD stated they had invested £85,000 in 4 'investments'?

Now lets do some interesting maths. Earlier in the year BMD tweeted that the cash situation was about the same.

The last number we were given was £144k in 2017.

BMD's 'generous' offer values the company (its cash ) at just £62,645 and that's only what you will get a cut from.

Lets do some interesting maths; lets add £62,645 to £85,000; those mysterious investments.

We come up with a total of £147,645; a number spookily close to the 2017 figure of £144k.

The abscence of accounts clearly outlining the numbers is MOST regretable.

[cyan] 20/9/2018 09:02

0.0007 PENCE

Values Sefton at £62,645

That's all very strange as on 22nd July 2017 BMD informed holders that Ellerton owed SER in excess of $200 K USD

On 14th March 2017 the update had these lines;

"2/ Sefton are currently in negotiation’s regarding a small producing oil asset on the African continent. Circa 100bopd. Due diligence is proceeding.

3/ The net cash balance of Sefton Resources has risen to £144,000."

==============================================================================

Where is the independent oversight of this valuation process. Where has the cash gone?

How can anyone judge the fairness or otherwise?

Two years of missing accounts. Shareholders have been largely kept in the dark as to where the money has gone.

[librag] 20/9/2018 08:44

Is it 0.0007 of £1 or 1p?
Sadly I think I know the answer ...

[cyan] 19/9/2018 18:38

On 22nd April 2018 I posted on this thread lines which included this extract;

"Based on a recent tweet from BMD the cash position is about the same. It was declared at £144k in the last 2017 update.

Divide that amongst the shareholders and that works out at 0.00161p each.

If you have One million shares you might hope to receive back £16.09 that's if you could sell them."

With BMD's offer you only get £7.00 now!

Where is the independant oversight of this valuation process. Where has the cash gone?

[uknighted] 19/9/2018 18:15

Sefton Resources Inc have announced that it has initiated a Share Buy-Back Strategy which includes the compulsory purchase of Shares held in the name of Hargreaves Lansdown Nominees Limited (our pooled Nominee Account in which you hold your Sefton Resources Inc Shares). Shareholders have been offered the amount of 0.0007p per Share, which has been calculated based on the net cash position of the Company.

[uknighted] 14/9/2018 21:01

I emailed the company a few days ago concerning the buy back price - no response to date.
Anyone got any further details? TIA

[andy] 06/9/2018 13:29

Contact Information

Sefton Resources, Inc.

Email: [e-mail]

[scoots] 06/9/2018 11:02

My shares are with HSDL and they claim to have no knowledge of any corporate notification.

[cyan] 06/9/2018 10:42

How can anyone make an informed decision without financial numbers from the company?

Where are the accounts for SER to 31st January 2017, or to 31st January 2018?

pr100 is spot on about the lack of a price.

Who is doing the valuation of the company?

[dbno] 06/9/2018 09:34

Thanks uknighted, how do we get to know what the offer is. If it's £1.00 per share I'll take it.

[uknighted] 05/9/2018 20:48

Accept the offer or convert your nominee holding to a paper share certificate - that’s how I read it.

[dbno] 05/9/2018 16:05

So what exactly are the options for us poor shareholders?

[uknighted] 05/9/2018 15:30

I had mentally written these off years ago. At least it will give me a value of the loss to set against my capital gains.
Every dark cloud etc.

[pr100] 05/9/2018 14:11

Never in the annals of the City of London has any company announced a share buyback without declaring the price publicly.

[librag] 05/9/2018 13:16

Cynic! Be nice to know how much the price of the nominee shares though. Anyone?

[pr100] 05/9/2018 12:22

Since the buyback price has been omitted, should we assume that some, e.g. Mr Levi, will get a higher price than others, e.g. PIs?

[tann93] 01/5/2018 14:31

Its all gone a bit quiet, no update for a while. Dan are you there? has there been any progress made?

[uknighted] 03/2/2018 18:58

California Joe will be alright then.

[cyan] 03/2/2018 15:59

When BMD spouts tripe like "all cash has been preserved", remember this;

On 31st december 2015 there were 812,741,519 shares in issue.
NOW there are an incredible 8,949,299,416. More than TEN times as many.

All the "awards" to directors has gradually transferred SER's 'wealth' to them.
They now own over 45% of the company.

Shareholders are being diluted to oblivion whilst the 'directors' grab the company's wealth.