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DJ Doriemus PLC Establishment of Employee Benefit Trust

 
TIDMDOR 
 
12 December 2016 
 
                                 Doriemus plc 
 
                           ("DOR" or the "Company") 
 
                    Establishment of Employee Benefit Trust 
 
Doriemus plc (ISDX:DOR) announces that it has established an employee benefit 
trust called the Doriemus Employee Benefit Trust ("EBT") to implement the use 
of the Share Incentive Plan (SIP) previously established by the Company. The 
purpose of the SIP is to incentivise officers, employees and consultants of the 
Company by the award of ordinary shares in the capital of the Company 
("Ordinary Shares") for no cost.   Ordinary Shares under this plan will not 
exceed 10 per cent. of the Company's issued share capital from time to time 
without the prior approval of shareholders of the Company. 
 
The EBT is a discretionary trust for the benefit of directors, employees and 
consultants of the Company and its subsidiaries. 
 
Accordingly, the Company was notified today by the trustees of the EBT that 
they intend to subscribe 1,100,000,000 new ordinary shares of 0.001p each in 
the Company, at par value per share at an aggregate cost to the Company of GBP 
11,000, such shares representing 9.63% of the existing issued share capital of 
the Company.  The shares held in the EBT are intended to be used to satisfy 
future awards made by the Company's Remuneration Committee under the SIP. It is 
intended that any individual awards under the scheme will be subject to vesting 
and performance conditions. 
 
On admission, the Placing Shares rank pari passu with the existing Ordinary 
Shares. 
 
The Company will therefore have 12,526,285,711 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. 
 
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 
 
                                            +44 (0)20 7469 0930 
Peterhouse Corporate Finance Limited 
Corporate Adviser 
Guy Miller / Fungai Ndoro 
 
 
 
END 
 

(END) Dow Jones Newswires

December 12, 2016 10:00 ET (15:00 GMT)