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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Doriemus | LSE:DOR | London | Ordinary Share | GB0030818198 | ORD 0.001P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0625 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
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 £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: 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 |
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