4 October 2013
Doriemus plc
(the "Company")
Completion of Placing
Doriemus Plc is pleased to announce that the Company has raised £200,000
through the subscription for 500,000,000 new ordinary shares of 0.001 pence
each in the Company (the "Subscription Shares") at a price of 0.04 pence per
Subscription Share (the "Subscription Price") by existing shareholders and new
investors (the "Subscription"). The Subscription is conditional only upon
admission of the Subscription Shares to trading on AIM ("Admission") and has
been carried out within the Company's share authorities. Furthermore, each
Subscription Share carries a warrant which entitles the holder to subscribe for
one new ordinary share in the Company at 0.04 pence per share up to 30
September 2014.
The net proceeds of the Subscription will strengthen the Company's balance
sheet and provide working capital for the Company to investigate acquisition
and investment opportunities in accordance with the Company's investing policy.
SL Investment Management Limited, a substantial shareholder of the Company, has
agreed to subscribe for 120,000,000 Subscription Shares. Following Admission,
SL Investment Management Limited will be beneficially interested in a total of
828,032,798 ordinary shares, equivalent to 23.93% of the enlarged issued share
capital of the Company.
The participation in the Subscription by SL Investment Management Limited is a
related party transaction as defined by the AIM Rules due to the size of its
shareholding. The Directors of the Company, having consulted with Sanlam
Securities UK Limited, the Company's Nominated Adviser, consider that SL
Investment Management Limited's participations in the Subscription is fair and
reasonable insofar as shareholders are concerned.
The Subscription Shares will represent 14.45% of the enlarged issued share
capital of the Company.
Application has been made for the Subscription Shares to be admitted to trading
on AIM and it is anticipated that Admission will occur on 10 October 2013.
Following Admission, the Company's enlarged issued share capital will comprise
3,459,999,998 ordinary shares. The Company does not hold any shares in
treasury. This figure of 3,459,999,998 ordinary shares may be used by
shareholders in the Company as the denominator for the calculations by which
they will determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under the FCA's
Disclosure and Transparency Rules.
For further information please contact:
Doriemus plc
Donald Strang +44 (0) 207 440 0640
Hamish Harris
Sanlam Securities UK Limited
Simon Clements/Virginia Bull +44 (0) 207 628 2200