DMH Stallard LLP has advised Dozens Savings Plc (Dozens Savings) on its £7million 5% secured bond programme which was listed on the NEX Exchange Growth Market on 1 March 2019.
Under the bond programme, Dozens Savings offers a fixed income financial investment product, namely, 5% fixed – rate secured bonds (Bonds), to customers of its corporate parent, Project Imagine Ltd (operating as “dozens”). Dozens aims to create an improved second-generation financial management alternative from scratch – disrupting banking and money problems via a solution that enables users to pursue a simple and equitable financial future. This solution is provided to customers via the dozens app, which was launched earlier in the year and is available through the App Store. The Bonds will be available on a regular basis for customers to subscribe via the app.
Working with Dozens Savings’ NEX Corporate Adviser, Alfred Henry Corporate Finance Ltd, DMH Stallard advised Dozens Savings on the constitution of the Bonds, the legal framework within which the Bonds are issued on a regular basis and the preparation of the Base Admission Document required in respect of its NEX Exchange Growth Market listing. The Bonds are among a limited number of bonds listed on the NEX Exchange Growth Market, and the listing enables dozens to provide an innovative financial product to its customers.
For further enquiries or to discuss any of the topics raised in the above article, please contact Corporate Partner Nick Williams by email at Nick.Williams@dmhstallard.com or by phone on 020 7822 1523.