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 |