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Issue of Equity

4th Oct 2013 07:00

DORIEMUS PLC - Issue of Equity

DORIEMUS PLC - Issue of Equity

PR Newswire

London, October 3

4 October 2013 Doriemus plc (the "Company") Completion of Placing Doriemus Plc is pleased to announce that the Company has raised £200,000through the subscription for 500,000,000 new ordinary shares of 0.001 penceeach in the Company (the "Subscription Shares") at a price of 0.04 pence perSubscription Share (the "Subscription Price") by existing shareholders and newinvestors (the "Subscription"). The Subscription is conditional only uponadmission of the Subscription Shares to trading on AIM ("Admission") and hasbeen carried out within the Company's share authorities. Furthermore, eachSubscription Share carries a warrant which entitles the holder to subscribe forone new ordinary share in the Company at 0.04 pence per share up to 30September 2014. The net proceeds of the Subscription will strengthen the Company's balancesheet and provide working capital for the Company to investigate acquisitionand investment opportunities in accordance with the Company's investing policy. SL Investment Management Limited, a substantial shareholder of the Company, hasagreed to subscribe for 120,000,000 Subscription Shares. Following Admission,SL Investment Management Limited will be beneficially interested in a total of828,032,798 ordinary shares, equivalent to 23.93% of the enlarged issued sharecapital of the Company. The participation in the Subscription by SL Investment Management Limited is arelated party transaction as defined by the AIM Rules due to the size of itsshareholding. The Directors of the Company, having consulted with SanlamSecurities UK Limited, the Company's Nominated Adviser, consider that SLInvestment Management Limited's participations in the Subscription is fair andreasonable insofar as shareholders are concerned. The Subscription Shares will represent 14.45% of the enlarged issued sharecapital of the Company. Application has been made for the Subscription Shares to be admitted to tradingon AIM and it is anticipated that Admission will occur on 10 October 2013. Following Admission, the Company's enlarged issued share capital will comprise3,459,999,998 ordinary shares. The Company does not hold any shares intreasury. This figure of 3,459,999,998 ordinary shares may be used byshareholders in the Company as the denominator for the calculations by whichthey will determine if they are required to notify their interest in, or achange in their interest in, the share capital of the Company under the FCA'sDisclosure and Transparency Rules. For further information please contact: Doriemus plcDonald Strang +44 (0) 207 440 0640Hamish Harris Sanlam Securities UK LimitedSimon Clements/Virginia Bull +44 (0) 207 628 2200

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Doriemus
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