BOS GLOBAL Holdings Limited Innovation Convertible Note Drawdown & Conversion (7415B)
06 April 2017 - 4:00PM
UK Regulatory
TIDMBOS
RNS Number : 7415B
BOS GLOBAL Holdings Limited
06 April 2017
BOS GLOBAL Holdings Limited
ACN 009 087 852
AIM Release
6 April 2017
Innovation Convertible Note - Drawdown & Conversion
BOS GLOBAL Holdings Limited ("BOS" or "the Company") (AIM: BOS),
the software developer focused on optimizing employee/individuals'
productivity, advises that it has completed the next monthly
drawdown of GBP100,000 due March 2017 under its GBP1.392m
Convertible Note agreement ("Note") with Innovation Corporation
Limited ("Innovation").
The Company has also received and accepted a Conversion Notice
from Innovation for GBP100,000 at a fixed rate of 16 pence per
share in accordance with the terms of the Note. As a result,
Innovation will receive 625,000 fully paid ordinary shares in BOS.
Application will be made to the AIM market of the London Stock
Exchange ("AIM") to admit these shares to trading on AIM with
admission expected on or about Tuesday 11 April 2017. These shares
will be subject to a 12-month lock-in agreement from the date of
conversion. The Company confirms that, as a consequence of this
Conversion Notice, it currently has no debt outstanding.
This month's drawdown has been reduced from the GBP116,000
available at the discretion of the Company, which reflects the
Company's funding requirements having been reduced by the
commencement of income generation from client contracts.
After this drawdown, GBP1,002,000 remains available to the
Company under the Note. The next monthly instalment of GBP116,000
is due on 15 April 2017. Following admission of the conversion
shares, BOS will have 68,929,366 fully paid ordinary shares in
issue. Entities associated with Michael Travia will hold 29,419,011
shares, representing 42.7% of the total shares on issue.
This announcement contains inside information for the purpose of
Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
For further information please visit www.bosglobal.com or
contact:
Michael Travia BOS GLOBAL Holdings Tel: +61 (0) 8 9322
Managing Director Limited 4071
E: shareholder@bosglobal.com
==================== ===================== ==============================
Oliver Morse/Andrew RFC Ambrian Limited Tel: +61 (0) 8 9480
Thomson 2500
NOMAD
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Charles Goodfellow Peterhouse Corporate Tel: +44 (0) 20
/ Lucy Williams Finance Limited 7220 9791
Broker
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Elisabeth Cowell St Brides Partners Tel: +44 (0) 20
/ Charlotte Ltd 7236 1177
Page
Financial PR
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About BOS GLOBAL
BOS GLOBAL is a Software Company dedicated to making workplaces
more productive. It does this through its patented platform built
to capture and analyse activities as a smart way to help
individuals to achieve greater levels of workplace efficiency. The
platform known as BOS 360 Work Patterns is unique in its ability to
digitally render real time views of productivity in the form of
Work Patterns at an individual, team or organisation level.
The platform comprises of three main business competencies;
1. Workplace Automation - How digital information (records and
documents) is managed in the workplace.
2. Workplace Productivity - How people are spending their time at work
3. Workplace Integrity - How workplace information is secured and validated.
Each of these competencies are supported by a range of
enterprise grade software products designed to perform a specific
set of workplace functions. These products also act as both
collectors and feeders of information to the BOS 360 Platform for
use in the generation of Work Pattern reports. BOS GLOBAL will
generate re-occurring income through subscriptions of its BOS 360
Work Pattern platform and supporting products, as well as through
licensing of its patented Work Pattern technology. The Company
sales strategy is focused on building a global distribution partner
network via Enterprise Software Vendors, Professional Services
Organisations and Consulting Practices.
The Company has also signed a conditional agreement to acquire a
40% interest in Call Design Pty Ltd, a profitable, Australian
based, global provider of workforce optimisation tools, focused
particularly on call centre services, which has an established blue
chip client base. This highly synergistic investment will provide
multiple cross-selling opportunities to both companies in line with
BOS GLOBAL's strategy to deliver a comprehensive business
optimisation offering globally.
BOS GLOBAL Holdings Limited is a LSE AIM listed company
incorporated in Australia, operating from offices in Melbourne,
Sydney and Brisbane. Plans are well underway to increase its
representation, with offices in London, San Francisco and Hong Kong
in year 2017.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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