Anyone who invested £95,000 in Sefton Resources (SER) when it listed on AIM more than a decade ago would, if they tried to sell their shares tomorrow net £26.67 (before dealing costs). Meanwhile executive chairman Jim Ellerton lives in a multimillion dollar beachfront mansion in Hawaii. Thanks to fees, salary, “director cash advances” and share trades (not to mention loans from Gary Dillabaugh that he has not repaid) Jimmy has made around $7 million from Sefton since its IPO.
Chuck in NI payments, first class air fares to and from Hawaii for 13 years, 5 star hotel accommodation around the world at Sefton’s expense, the company car in Hawaii and the rest and Jim Ellerton has cost Sefton c$10 million. In light of this I offer you this picture and invite you to post suitable captions in the comments section below by 9 AM Friday or by when Sefton’s shares are suspended – whichever is sooner.
For what it is worth my entry is: “As he gazes from his bedroom window Jim Ellerton reminds himself that whatever his critics may say not all shareholders have lost everything.”
And remember that there is still time to win a Justice for the Sefton 2 T-shirt in the ShareProphets Jim Ellerton Gary Dillabaugh caption contest which you can find here.