Doriemus PLC - Cross listing on ASX and Consolidation of Shares

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    [phone]
David Lenigas

Peterhouse Corporate Finance Limited     [phone]
Corporate Adviser
Guy Miller/Fungai Ndoro

Optiva Securities Limited      [phone]
Broker
Christian Dennis/Jeremy King

Squarel Consulting     [phone]
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.

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