SER.L Share News (SER)

LONDON (Alliance News) - Sefton Resources PLC shares were suspended from trading on AIM Wednesday morning at the request of the company pending a statement.

The company's Chief Executive Officer Jim Ellerton unconditionally stepped down Friday after being accused by bloggers of misleading investors by putting out statements that gave false oil production levels.

Independent financial investigator and blogger Tom Winnifrith told Alliance News at the time that Sefton's libel case against him and blogger Daniel Levi has been "blown out of the water" after Ellerton's resignation and that the company had agreed to settle the case.

There was no indication that Sefton's pending statement would be related to that case.

By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1

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