SER 1P TAKEOVER= Sale on the cards for Sefton?
Bank of the West (the "Bank") has given formal notice to the Company that its current facility will not be renewed in its current form and that the outstanding loan balance of US$4.7million is due and payable in full. The Company is in constructive discussions with the Bank concerning alternative arrangements with providers of finance. Several providers of finance have expressed an interest in providing some or all of the required finance. The directors are actively perusing an alternate refinancing packages and hope to update shareholders shortly.
