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Sefton shareholders – diluted again: Three questions

Tom Winnifrith
Wednesday 6 March 2013

Each time the amount gets smaller and each time less is raised. Less than three months since its last fund raise AIM listed Sefton Resources (LSE:SER) is passing the hat around yet again. This time it has raised £650,000 gross ( call it £620,000 net) with clients of Dowgate Stockbrokers. Lucky them. The amount raised will cover about three months cashburn. Put another way it is about 18 months total remuneration (including bonuses, pension contributions, etc) for chairman Jim Ellerton, a man who runs a company that has destroyed around 99.7% of the value of an investment made in Sefton at the time of its IPO 12 years ago.

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About Tom Winnifrith
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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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