DomaCom chair reassures traders – Monetary | Australian Markets
Publicly-listed managed investments platform, DomaCom has sought to reassure traders that’s no longer simply a property fund supervisor and that it has emerged from the suspension of its ASX itemizing with a new business model.
DomaCom’s lately appointed chair, Giuseppe Porcelli used his tackle to the firm’ annual normal assembly to state that it had navigated financial instability, liquidity constraints and the suspension of its ASX itemizing and had emerged to tackle new challenges.
He stated the strategic actions taken by the company included a $3.5 million personal markets recapitalisation, the reimbursement of $2.3 million in loans, the conversion of $3 million in debt into shares and a 50% income share settlement with the Bricklet home-owner platform.
The company stated the measures had resulted in a internet optimistic affect of $6.5 million, positioning DomaCom for sustainable growth.
“Beyond financial restructuring, we are redefining DomaCom’s core strategy and business model,” the chairman stated. “Our primary objective is to shift from a property fractionalisation platform to a broader fractional investing hub for alternative investments.”
He pointed to the company’s introduction of its Home-owner Fairness Fund and its institution of its fractional investing platform Assetora.
“We’re no longer simply a property fund supervisor. We’re an investment platform of the longer term – one which leverages technology, innovation and diversified asset choices to maximise returns for our shareholders.
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