2 December
2016
Doriemus Plc
("Doriemus" or the
"Company")
Issue of Equity to
fast track UK onshore oil investment strategy
Doriemus (ISDX: DOR) announces that it has raised £250,000,
gross of expenses, through the issue of 714,285,714 new Ordinary
Shares of 0.001p each in the Company ("Placing Shares") at a
placing price of 0.035 pence per
share with private investors ("the "Placing"). This Placing is to
raise funds to assist in progressing possible investment
opportunities that the Company is currently reviewing and to ensure
that we have sufficient working capital available to keep up with
anticipated expenditure with respect to increased onshore UK oil
drilling activity.
On admission, the Placing Shares rank pari passu with the
existing Ordinary Shares.
The Company will therefore have 11,426,285,711 Ordinary Shares
in issue with voting rights and admitted to trading on ISDX. This
figure may be used by shareholders in the Company as the
denominator for the calculation 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.
David Lenigas, The Company’s executive
Chairman, commented;
“The Company has a strong balance sheet and no debt post the
closing of the fully subscribed and recently closed Open Offer,
however the board is excited about a number of opportunities that
we are looking at in the UK onshore space and we need to be
properly cashed up to explore and potentially exploit these
opportunities in order to be a meaningful player in the UK onshore
oil production sector. OPEC’s recent announcement to reduce OPEC
oil supply by 1.2 million barrels a day globally is seen as very
positive for future oil prices rises as this effectively takes out
the over supply that has been overhanging the markets and we see
this as creating a lot more investment opportunities in the UK for
an oil investment company like Doriemus.”
The directors of Doriemus accept responsibility for this
announcement.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Doriemus Plc:
David Lenigas
Hamish Harris
Donald Strang |
+44 (0)20 7440
0640 |
Peterhouse Corporate Finance Limited Corporate Adviser
Guy Miller / Fungai Ndoro |
+44 (0)20 7469
0930 |