29 June 2017
Doriemus PLC
(“Doriemus” or “the Company”)
Proposed cross
listing on the ASX and Consolidation of Ordinary Shares
The Company is currently in the process of applying for a cross
listing of the Company’s shares on the Australian Securities
Exchange (“ASX”). The Directors believe that whilst the NEX
Exchange Growth Market (“NEX”) serves the Company and its
shareholders well, a listing on one of the world’s senior markets
will assist the Company with the implementation of its growth
strategy. Having considered various options, the Directors believe
that the ASX is the most suitable choice for the Company to pursue
the next stage of its growth. The Directors also believe that any
such cross listing should also provide shareholders with greater
trading liquidity than is currently experienced on NEX.
Evidently, and further to the announcement of 11 October 2016, the Company no longer intends to
seek admission to the standard segment of the Official List and to
trading on the main market of the London Stock Exchange.
In order to prepare for the proposed cross listing of the
Company’s shares on the ASX, the Company intends to consolidate its
current issued share capital which consists of approximately
12,526,285,711 ordinary shares in issue. It is proposed that the
issued share capital of the Company will be restructured, in order
to reduce the number of ordinary shares in issue, by consolidating
them on a four hundred for one basis (400/1). All of the existing
ordinary shares with a nominal value of 0.001p (£0.00001) each will
be consolidated into ordinary shares with a nominal value of 0.4p
(£0.004) each on the basis of one new ordinary share for every four
hundred existing ordinary shares on issue.
As a result of the consolidation, it is anticipated that, based
on the current issued shares, on a four hundred for one basis,
there will be 31,315,714 ordinary shares in issue with a nominal
value of 0.4p (£0.004) each.
Where options and other rights have been granted in relation to
the ordinary shares, the numbers of ordinary shares to which these
rights apply will be adjusted to take account of the
consolidation.
The new consolidated ordinary shares will be traded on NEX in
the same way as the existing ordinary shares and will be
equivalent, ranking pari passu, in all material respects to the
existing ordinary shares (including as to dividend, voting and
other rights).
A circular for the proposed consolidation will be posted to
shareholders and a further announcement made at that time.
The directors of the Company accept responsibility for the
contents of this announcement.
For additional information, please contact:
Doriemus plc +44 (0) 20 7440 0640
David Lenigas
Peterhouse Corporate Finance
Limited +44 (0) 20 7469 0930
Corporate Adviser
Guy Miller/Fungai Ndoro
Optiva Securities Limited
+44 (0) 20 3137 1902
Broker
Christian Dennis/Jeremy King
Squarel Consulting +44 (0) 20
7929 5599
Public Relations
David Bick
Disclaimer
This announcement contains certain forward-looking
statements. These statements are made by the Company's
Directors in good faith based on the information available to them
up to the time of their approval of this announcement but such
statements should be treated with caution due to inherent
uncertainties, including both economic and business factors,
underlying such forward-looking information. This
announcement has been prepared solely to provide additional
information to shareholders to assess the Company's strategies and
the potential for those strategies to succeed. This
announcement should not be relied on by any other party or for any
other purpose.