DOR Doriemus

 
TIDMDOR 
 
28 October 2014 
 
                                 Doriemus plc 
 
                         ("Doriemus" or the "Company") 
 
                           Result of General Meeting 
 
Doriemus plc (AIM: DOR) announces that, at the General Meeting held earlier 
today, the resolution was duly passed. Accordingly, the Company's New Investing 
Policy, which is set out below, has been adopted with immediate effect. 
 
All the defined terms in this announcement have the same meaning as in the 
circular published by the Company and sent to shareholders on 13 October 2014, 
a copy of which is available at the Company's website, at www.doriemus.co.uk. 
 
 
For further additional information please contact: 
 
Doriemus plc                            +44 (0) 20 7440 0640 
Donald Strang/Hamish Harris 
 
Cairn Financial Advisers LLP            +44 (0) 20 7148 7900 
Nominated Adviser and Broker 
James Caithie/Jo Turner/Carolyn Sansom 
 
Square1 Consulting                      +44 (0) 207 929 5599 
David Bick 
Mark Longson 
 
The Company's New Investing Policy is to invest in and/or acquire companies and 
/or projects within the oil and gas sector in Europe with potential for growth 
and/or if the Board considers there is an opportunity to generate an attractive 
return for Shareholders. 
 
In general, in selecting investment opportunities in line with the above, the 
Board will focus on businesses, assets and/or projects that are available at 
attractive valuations and hold opportunities to unlock embedded value. Where 
appropriate the Board may seek to invest in businesses where they can add their 
expertise to the management of the business, and utilise their significant 
industry relationships and access to finance. The ability to work alongside a 
strong management team to maximise returns through revenue growth will be 
something the Board will focus upon initially. 
 
The Company's interests in a proposed investment and/or acquisition may range 
from a minority position to full ownership but are more likely to be a minority 
position. The proposed investments may be in either quoted or unquoted 
companies; be made by direct acquisitions; and may be in companies, 
partnerships, equity, debt or other loan structures, joint ventures or direct 
or indirect interests in assets or projects. 
 
There is no limit on the number of investments which the Company may make and 
the Company's financial resources may be invested in a number of propositions 
or in just one investment, which may be deemed to be a reverse takeover under 
the AIM Rules, and there shall be no restriction on the amount of such 
available financial resources the Company may invest in any one investment. Any 
transaction constituting a reverse takeover under the AIM Rules will also 
require Shareholder approval. 
 
The Board expects that investments will typically be held for the medium to 
long term, although short term disposal of assets cannot be ruled out if there 
is an opportunity to generate an attractive return for Shareholders. The Board 
will place no minimum or maximum limit on the length of time that any 
investment may be held and in most circumstances, it will be dependent on 
market conditions. The Company may be both an active and a passive investor 
depending on the nature of the individual investment. 
 
Where the Company builds a portfolio of related investments it is possible that 
there may be cross holdings between such assets. The Board considers that as 
investments are made, and new promising investment opportunities arise, further 
funding of the Company may also be required. The Company does not currently 
intend to fund any investments with debt or other borrowings but may do so in 
future, if appropriate. The Board may also offer new Ordinary Shares by way of 
consideration as well as cash, thereby helping to preserve the Company's cash 
for working capital and as a reserve against unforeseen contingencies 
including, for example, delays in collecting accounts receivable, unexpected 
changes in the economic environment and operational problems. 
 
The Company will not have a separate investment manager. The Company proposes 
to carry out a comprehensive and thorough project review process in which all 
material aspects of a potential project or business will be subject to rigorous 
due diligence, as appropriate. 
 
As an Investing Company, the Company will be required to make an acquisition or 
acquisitions which constitute a reverse takeover under the AIM Rules or 
otherwise implement its proposed New Investing Policy on or before the date 
falling twelve months from the adoption of the Existing Investing Policy 
failing which, the Company's Ordinary Shares would then be suspended from 
trading on AIM. In the event that the Company's Ordinary Shares are so 
suspended and the Company fails to obtain Shareholders' consent to renew such 
policy, the admission to trading on AIM would be cancelled six months from the 
date of suspension. 
 
 
 
END 
 

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