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DJ Doriemus PLC Issue of Equity

 
TIDMDOR 
 
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 GBP250,000, 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:                               +44 (0)20 7440 0640 
David Lenigas 
Hamish Harris 
Donald Strang 
 
Peterhouse Corporate Finance Limited        +44 (0)20 7469 0930 
Corporate Adviser 
Guy Miller / Fungai Ndoro 
 
 
 
END 
 

(END) Dow Jones Newswires

December 02, 2016 09:18 ET (14:18 GMT)