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Sefton Resources; toxic danger signals all over it again

By Ben Turney

19 June 2015 00:35

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Just before the close, Sefton Resources (SER) announced that Daniel Levi and market abuser Chris Oil had bought back into the company. This has provoked a furious reaction and it will be very interesting to see how the market responds today. After the first time Mr Levi “saved” Sefton, the company’s share price went up nearly seven times, to an eye-watering 0.39p. Oblivious to the fact that Mr Levi failed to deliver his operational promises and sold a massive chunk of his stock near the unsustainable and over-promoted top, Seftonologists still saw good value in this cash shell with little cash, no assets and an £11.3million market cap. Will this bunch fall for the shenanigans again or will it finally learn its lesson and pay heed to the obvious toxic danger signals now slapped all over this stock?

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Comments

wildrides

19 June 2015, 02:53

Icarus flew too near the sun
Into the blue his red wax did run ( Hawkwind – Calvert .R circa 1979)

So too are Broken man and Oily Chris . An unholy alliance focused on the redistribution of wealth by stealth , from you to them . Pause for thought before aliening ones self with this enterprise , on those unfortunates being relieved of their hard earned . Next it could be you . Karma works in mysterious ways .
DUCK AND DIVE

19 June 2015, 04:34

Good points, Ben – especially about the real percentage of voting rights. I agree that an EGM requisition is coming later today. I can’t believe that its purpose would be to try to add Levi (or worse, Oil) to the Board but they may want to remove some directors.

As for the TR-1, according to UKLA guidance, the issuer isn’t bound to forward the document to the market but can send out a “free text” version instead. But surely that “free text” must include the key metrics such as the date of the acquisition/disposal?

http://www.fsa.gov.uk/pubs/ukla/list14_apr07.pdf
J P Spaghetti

19 June 2015, 08:44

Wildes – there’s a cracking track called Flight of Icarus by Iron Maiden on – I think – Piece of Mind. Not really a metal head myself but the whole album is a jolly tuneful and finely crafted offering. And during the 70s, there was a serious study called Project Daedalus that concerned the design of a plausible interstellar spacecraft that could reach Barnard’s Star within a human lifetime (though the craft was to be unmanned). It may interest Ryanair. Just thought I’d share that with you.