DomaCom chair reassures investors

Publicly-listed managed investments platform, DomaCom has sought to reassure investors that is no longer just a property fund manager and that it has emerged from the suspension of its ASX listing with a new business model.

DomaCom’s recently appointed chair, Giuseppe Porcelli used his address to the firm’ annual general meeting to state that it had navigated financial instability, liquidity constraints and the suspension of its ASX listing and had emerged to take on new challenges.

He said the strategic actions taken by the company included a $3.5 million private markets recapitalisation, the repayment of $2.3 million in loans, the conversion of $3 million in debt into shares and a 50% revenue share agreement with the Bricklet homeowner platform.

The company said the measures had resulted in a net positive impact of $6.5 million, positioning DomaCom for sustainable growth.

“Beyond financial restructuring, we are redefining DomaCom’s core strategy and business model,” the chairman said. “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 Homeowner Equity Fund and its establishment of its fractional investing platform Assetora.

“We are no longer just a property fund manager. We are an investment platform of the future – one that leverages technology, innovation and diversified asset offerings to maximise returns for our shareholders.