DomaCom appoints new Chairman and CEO

SYDNEY, AUSTRALIA: The Board of DomaCom Limited (ASX: DCL) has appointed a new Chairman, Chief Executive Officer of the Company and a new director.

Former Liberal Party Leader and experienced economist and company director, Dr John Hewson has been appointed DomaCom non-executive Chairman and experienced financial services leader John Elkovich has been appointed Chief Executive Officer with immediate effect.

Ms Angela Williams also joins the board as an experienced marketer in the fintech space. Former DomaCom Chairman Grahame Evans remains on the Board as non-executive Deputy Chairman while former Chief Executive Officer Arthur Naoumidis has left the company.

Dr Hewson said the Board thanked Mr Naoumidis for his commitment and leadership of the company over the past decade. “Arthur’s entrepreneurial skills in identifying and bringing a revolutionary new offering to the market demonstrates his innate capacity to pioneer in a market place which has lacked invention. We wish him well in his future endeavors.”

Dr Hewson welcomed Mr John Elkovich to the role of CEO and looked forward to engaging with him given his exceptional experience in the financial services and his ability to scale financial services firms.

The new board, management and its major shareholders have reconfirmed their belief in the DomaCom solution for the Australian market place and the major opportunities for DomaCom. The Board intends on promptly applying for relisting of the company and after a short review period re commencing a major fundraising round to take advantage of some of the opportunities to grow and scale the company substantially.

DomaCom Limited (ASX:DCL) owns and operates a fractional investment platform that 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, possibly 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.

DomaCom’s proprietary platform allows Australians to invest in almost any asset class, empowering them to create diversified portfolios with comparatively lower minimum investments and competitive cost structures.

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