28 July 2017
Doriemus PLC
(“Doriemus” or the
“Company”)
Result of General
Meeting and Total Voting Rights
Doriemus PLC (NEX:DOR), the London traded UK focused oil and gas
exploration and production investment company, announces that at
the General Meeting of the Company held today at the offices of
Hill Dickinson LLP, The Broadgate Tower, 8th Floor, 20
Primrose Street, London, EC2A 2EW,
all resolutions were duly passed.
The 14,383,428,279 ordinary shares of 0.001 pence each (“Existing Ordinary Shares”)
that are in issue have today been approved for consolidation into
35,958,570 ordinary shares of 0.4
pence each (“New Ordinary Shares”). Such New Ordinary Shares
will have the same rights and be subject to the same restrictions
(save as to par value) as the Existing Ordinary Shares. As
mentioned in the Notice of General Meeting, the Company undertook
the consolidation principally to facilitate the cross listing of
the Company’s shares on the Australian Securities Exchange
(“ASX”).
The new ISIN for the New Ordinary Shares is GB00BDBSCX03.
For further details of timing of crediting the New Ordinary
Shares to CREST and posting of new share certificates, please refer
back to the notice of General Meeting at the following link:
http://www.doriemus.co.uk/corporate-documents/.
The new Investing Policy was also approved and accordingly the
Company’s investment strategy is as follows:
“The investment objective of the Company is to provide
Shareholders with an attractive total return achieved primarily
through capital appreciation. Further, the Directors intend to take
an active approach to investments made by the Company and to adhere
to the following guidelines:
a) Geographic focus: While the Company’s principal focus
is on projects or businesses with part or whole connection or
relationship to Europe the Company
will also consider projects or businesses in the Asia Pacific
Region.
b) Sector focus: The Company intends to invest in, or
acquire, companies or projects within the oil and gas sector with
the potential for growth if the Board considers that there is an
opportunity to generate an attractive return for Shareholders. The
Directors believe that opportunities exist to create value for
Shareholders through a properly executed, acquisition led strategy
in the oil and gas sector.
c) Types of investment and control of investments: In
selecting investment opportunities in line with the Investing
Policy, the Board will focus on companies, projects, businesses,
joint ventures or production agreements 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 to 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 interest in a proposed investment or acquisition (as the
case may be) may range from a minority position to full ownership.
Additionally, the proposed investments:
i. may be in either quoted or unquoted companies;
ii. may be made in companies, partnerships, equity, debt or
other loan structures, joint ventures or direct or indirect
interests in assets or projects; and
iii. may be made by direct investment or acquisition.
d) Investment number and size: Taking into account the
Company’s available resources, there is no limit on the number or
size of investments which the Company may make. Accordingly, 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 NEX Rules or the rules of another stock
exchange as the case may be. Therefore, 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 NEX Rules will also
require Shareholder approval and re-admission to the NEX Growth
Market of the enlarged entity under NEX Rule 60.”
Total Voting Rights
In accordance with the Financial Conduct Authority's Disclosure
and Transparency Rules, the Company hereby announces that it has
35,958,570 ordinary shares of 0.4p each in issue, each share
carrying the right to one vote. The Company does not hold any
ordinary shares in treasury.
The above figure of 35,958,570 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 to their interest in, the share capital of
the Company under the Financial Conduct Authority's Disclosure and
Transparency Rules.
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 |
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