2nd May 2014 16:48
LONDON (Alliance News) - Doriemus PLC Friday said that it has raised GBP500,000 through the subscription for 500.0 million new shares in the company by a new institutional investor, whom it didn't name.
The shares were priced at 0.10 pence per share. It said the new shares represent 9.54% of the enlarged issued share capital of the company.
Doriemus said the net proceeds of the subscription will strengthen the company's balance sheet and provide it with working capital to investigate acquisitions and investment opportunities.
Doriemus shares closed Friday 6.1% lower at 0.127 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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