logo-loader

DomaCom proposes $2 million private placement on path to ASX reinstatement

Published: 09:34 14 Jul 2021 AEST

DomaCom Ltd - DomaCom proposes $2 million private placement on path to ASX reinstatement
“We look forward to resuming our normal business operations to deliver on some of our exciting innovations,” says CEO.

DomaCom Ltd (ASX:DCL) proposes to undertake a private placement to sophisticated and wholesale investors aimed at raising almost $2 million before costs as it moves towards reinstatement of its shares on the ASX.

The company, which owns and operates a fractional investment platform, will issue up to 30,506,852 ordinary shares at a price of $0.06551 per share.

Subject to Cleansing Prospectus

This placement, which will be made using all of the 10% capacity available under ASX Listing Rule 7.1A, will be subject to a Cleansing Prospectus as the company has been suspended for more than five days.

DomaCom CEO Arthur Naoumidis said: “We thank everyone for their patience during the period of suspension and we look forward to resuming our normal business operations to deliver on some of our exciting innovations.”

The proposed issue date is July 30, 2021, which will be subsequent to the lodgement of a prospectus with ASIC.

DomaCom was initially suspended while it provided information to the ASX in response to a Query Letter issued on May 12, 2021, relating to the proposed AustAgri transaction announced on September 4, 2020. The response was released on June 18, 2021.

The company has been informed by the ASX that it is required to remain suspended until the completion of a capital raising to ensure that it has sufficient cash to continue operations and is in compliance with Listing Rule 12.2.

About DomaCom

DomaCom's fractional investment platform provides real solutions for SMSF’s, retirees and new home buyers.

Using the DomaCom platform, investors can make fractional investments in a range of asset classes including property-related investments, mortgage-backed securities, renewables, affordable housing, disability accommodation and debt securities via a unique trust structure tailored to them.

Retirees can sell a fraction of their house to investors, possible family members, to help them improve their retirement income.

DomaCom runs a crowdfunding campaign process in which investors can commit as much as they want towards the purchase of assets together with other like-minded investors.

When a campaign is complete, DomaCom purchases the asset, places it in a sub-fund and issues the investors with units in proportion to the amount they invested.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

10 hours, 1 minute ago