Doriemus PLC - Result of Open Offer
21 Oktober 2016 - 8:00AM
PR Newswire (US)
21 October 2016
Doriemus PLC
(“Doriemus” or the
“Company”)
Result of Open
Offer
Doriemus PLC (ISDX:DOR), the London traded UK focused oil and gas
exploration and production investment company, is pleased to report
the results of the Open Offer that was announced on 6 September 2016.
Highlights:
-
£434,625.43 raised from Qualifying Shareholders, representing a
50.2% take up under the Open Offer.
-
Firm commitments to subscribe for up to the full amount of the
Ordinary Shares in the Open Offer scaled back pro-rata accordingly,
with new investors subscribing to £430,574 worth of Shares at the
Open Offer Issue Price of £0.00035.
Result of the Open Offer
The Open Offer to raise up to £865,200 closed for acceptances at
11.00 a.m. on 18 October 2016 and the Company is pleased to
announce that it has received valid acceptances in respect of
1,241,778,368 Open Offer Shares from Qualifying Shareholders at a
price of £0.00035 per share to raise approximately £434,600.
Qualifying Shareholders who have validly applied for Open Offer
Shares will receive their full Open Offer Entitlement. All
eligible applications under the Excess Application Facility will be
allocated their Open Offer Shares as applied for. Other subscribers
have subscribed for the 1,230,221,631 Ordinary Shares at a price of
£0.00035 per share to raise a further approximately £430,500, not
taken up by Qualifying Shareholders. A total of £865,200 has been
raised, representing the full amount sought under the Open
Offer.
It is expected that the Open Offer Shares and the subscription
shares totaling 2,471,999,999 Ordinary Shares will be admitted to
trading on 24 October 2016. Following
admission to trading there will be 10,711,999,997 Ordinary Shares
in issue.
The Directors interests on admission will be as follows:
Ordinary Shares
% of Enlarged Share Capital
David Lenigas: 130,000,000
1.21%
Hamish Harris: 96,200,000
0.89%
Grant Roberts: 48,100,000
0.45%
Donald Strang: 96,200,000
0.89%
A copy of the Open Offer circular can be found at
www.doriemus.co.uk. Terms defined in the Open Offer circular have
the same meaning in this announcement.
David Lenigas, Executive Chairman of
Doriemus Plc, commented:
“This is an excellent result for a company that is quoted on the
London ISDX Growth Market and the board thanks all the shareholders
who have taken up their entitlements to the Company’s Open Offer.
All shareholders who requested additional shares on top of their 3
for 10 entitlements have been been allocated the additional shares
requested as part of this Open Offer. The Company is now well
placed to fund its cash calls on the exciting and upcoming Brockham
sidetrack well planned for the Brockham oil field before the end of
the year, and the large amount of appraisal work planned for the
Horse Hill oil discovery near Gatwick Airport next year.”
The directors of the Company accept responsibility for the
contents of this announcement.
-ENDS-
For further additional information, please contact:
Doriemus plc
David Lenigas / Donald Strang |
+44 (0) 20 7440
0640 |
Peterhouse Corporate
Finance Limited
Corporate Adviser
Guy Miller / Fungai Ndoro |
+44 (0) 20 7469 0930 |
Optiva Securities
Limited
Broker
Christian Dennis / Jeremy King |
+44 (0) 20 3137 1902 |
Square1
Consulting
Public Relations
David Bick |
+44 (0) 20 7929
5599 |
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