TIDMBOS
RNS Number : 3784H
BOS GLOBAL Holdings Limited
07 June 2017
BOS GLOBAL Holdings Limited
ACN 009 087 852
AIM Release
07 June 2017
Innovation Convertible Note - Drawdown & Conversion
BOS GLOBAL Holdings Limited ("BOS GLOBAL" or "the Company")
(AIM: BOS), the software developer focused on improving
productivity and creating operational efficiencies in the workplace
with "Workplace Analytics", is pleased to announce that it has
completed the drawdown of GBP116,000, at a fixed rate of 16 pence
per share, in accordance with its GBP1.392m Convertible Note
agreement ("Note") with Innovation Corporation Limited
("Innovation"). The Company has received and accepted a Conversion
Notice from Innovation for GBP116,000 and issued Innovation with
725,000 fully paid ordinary shares ("Conversion Shares") in BOS.
After this drawdown, GBP886,000 remains available to the Company
under the Note.
The Company has the option of when to draw down on the Note,
although this is subject to the Company not being in a closed
period as defined by the Market Abuse Regulations ('MAR'). The use
of the facility has recently been restricted by the transactions
relating to the Company's investment in a 40% equity interest in
Call Design Pty Ltd, a profitable, Australian based, global
provider of workforce optimisation tools, focused particularly on
call centre services, and the disposal of the Company's 75%
interest in its legacy resource asset, Copper Range (SA) Pty Ltd
("CRSA"), for approximately GBP386,000 before costs as announced on
12(th) May 2017.
BOS GLOBAL Managing Director Michael Travia said, "We continue
to make excellent progress in delivering on our strategy of
building organically and through acquisition, a global company
focused primarily on work based efficiencies. I am delighted to
convert a further tranche of the Note to support both the roll-out
of our innovative proprietary service lines, which includes the
newly launched patented BOS360 Work Patterns(TM) Platform as a
Service (PaaS) (www.bos-360.com) along with our core patented
product, BOS Time(TM), and building on the synergies provided by
the Call Design investment. We continue to trial our products and
build revenue channels and I look forward to updating the market on
the progress being made across all areas of the business."
Application will be made to the AIM market of the London Stock
Exchange ("AIM") to admit the 725,000 shares to trading on AIM with
admission expected on or about Monday, 12(th) June 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.
Following admission of the Conversion Shares, BOS will have
74,694,366 fully paid ordinary shares in issue. Entities associated
with Michael Travia will hold 30,365,677 shares, representing 40.7%
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.
**ENDS**
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
=================== ===================== ==============================
Andrew Thomson RFC Ambrian Tel: +61 (0) 8 9480
NOMAD Limited 2500
=================== ===================== ==============================
Charles Goodfellow Peterhouse Corporate Tel: +44 (0) 20 7220
/ Lucy Williams Finance Limited 9791
Broker
=================== ===================== ==============================
Charlotte Page St Brides Partners Tel: +44 (0) 20 7236
Financial PR Ltd 1177
=================== ===================== ==============================
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 BOS360 Work Patterns Platform as a Service
('BOS360 PaaS') launched in May 2017, 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 BOS360 PaaS for use in
the generation of Work Pattern reports and Workplace Analytics.
In addition to BOS Meet and BOS Automate, which were launched in
December 2016 and January 2017 respectively, BOS Time was launched
in May 2017 in tandem with BOS360 PaaS.
BOS GLOBAL aims to generate re-occurring income through
subscriptions of its BOS360 PaaS and supporting products, as well
as through licensing of its patented Work Pattern technology. The
Company's sales strategy is focussed on building a global
distribution partner network via Enterprise Software Vendors,
Professional Services organisations and Consulting Practices.
The Company acquired a 40% equity interest in Call Design Pty
Ltd on 23(rd) May 2017, 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 is expected to provide
multiple cross-selling opportunities to both companies in line with
BOS GLOBAL's strategy to deliver a comprehensive business
optimisation offering globally. This investment includes the 1(st)
Rights of Offer and Refusal for BOS to acquire the balance of Call
Design on the same financial terms as the initial 40%
investment.
Call Design sets a new standard for Workplace Optimisation,
while BOS GLOBAL's software sets a new standard for Workplace
Efficiency. Both products will be offered through BOS360 PaaS,
setting a new standard for Workplace Analytics to give companies
greater control in making informed, fact-based decisions on their
operational activities; Workforce Analytics is a combination of
software and methodology that applies statistical models to
worker-related data, allowing enterprise leaders to optimise human
and machine resources.
BOS GLOBAL Holdings Limited is an AIM listed company
incorporated in Australia, operating from offices in Melbourne,
Sydney and Brisbane. The Company also has a regional office in Hong
Kong, responsible for the Asia-Pacific region and processing of
large scale enterprise product sales with a greater than USD20
million revenue stream over an initial three-year contract term.
Such deals include acquisitions and investments like the size of
Call Design.
The Company is working towards its expanded London Office with
its planned move of both Corporate and Board function to London in
late 2017. Further, plans are well underway to increase its
representation in Europe, the Middle East and Africa ("EMEA") and
North America with that of Call Design, and with offices on track
to be established in 2017 in London and San Francisco
respectively.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOEUGUPPQUPMUAM
(END) Dow Jones Newswires
June 07, 2017 02:00 ET (06:00 GMT)
Bos Glb Hldgs (LSE:BOS)
Historical Stock Chart
From Apr 2024 to May 2024
Bos Glb Hldgs (LSE:BOS)
Historical Stock Chart
From May 2023 to May 2024