TIDMBOS
RNS Number : 3421T
BOS GLOBAL Holdings Limited
11 October 2017
BOS GLOBAL Holdings Limited
ACN 009 087 852
AIM Release
11 October 2017
Innovation Convertible Note - 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
by collecting and reporting workforce analytics, advises that it
has today resolved the conversion of the latest draw down from
Innovation Corporation Limited ("Innovation") of GBP100,000 at a
fixed rate of 16 pence per share in accordance with the terms of
its GBP1.875m Convertible Note agreement ("Note") with Innovation.
This conversion relates to additional funds drawn down in September
2017 with a further drawdown of a minimum of GBP125,000 expected
around 23 October 2017.
As a result, Innovation will receive 625,000 fully paid ordinary
shares in BOS. Application will be made to admit these shares to
trading on AIM with admission expected on or about Tuesday 17
October 2017. These shares will be subject to a 12-month lock-in
agreement from the date of conversion. Under the terms of the Note,
Innovation will also be granted 625,000 Conversion Options with an
exercise price of 20 pence and expiring on 30 September 2018.
Conversion Options and shares issued upon exercise of Conversion
Options will not be subject to lock-in agreements.
Following this conversion, GBP1,278,609 remains available to the
Company under the Note. Following admission of the conversion
shares, BOS will have 79,635,210 fully paid ordinary shares in
issue and the following options and warrants on issue:
3,727,444 options of exercise price 20 pence and expiry date 30
September 2018;
146,015 options of exercise price 150 pence and expiry date 4
December 2018;
20,282 warrants of exercise price 957 pence and expiry date 14
October 2019;
54,825 warrants of exercise price 1,197 pence and expiry date 21
October 2019;
16,709 warrants of exercise price 823 pence and expiry date 6
January 2020;
27,848 warrants of exercise price 718 pence and expiry date 5
June 2020; and
500,000 warrants of exercise price 10.4 pence and expiry date 26
August 2021.
Entities associated with Michael Travia will hold 23,104,855
shares, representing 29.0% of the total shares on issue and
3,727,444 options of exercise price 20 pence and expiry date 30
September 2018.
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:
Adam Webb BOS GLOBAL Holdings Tel: +44 (0) 7825
Non-Executive Limited 443319
Director
David Ireland Tel: +61 (0)8 9322
Chairman 4071
=================== ===================== =====================
Andrew Thomson RFC Ambrian Tel: +61 (0) 8 9480
NOMAD Limited 2500
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Charles Goodfellow Peterhouse Corporate Tel: +44 (0) 20 7220
/ Lucy Williams Finance Limited 9791
Broker
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Megan Dennison St Brides Partners Tel: +44 (0) 20 7236
/ Charlotte Page Ltd 1177
Financial PR
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About BOS GLOBAL
BOS GLOBAL is a Software Company dedicated to making workforces
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 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. Workforce 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 workforce 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 Workforce Analytics.
Since May 2017, BOS GLOBAL has six revenue generating products -
BOS Meet, BOS Time, BOS360 PaaS and BOS Automate Suite since its
first product launch (BOS Meet) in December 2016. For more
information of how BOS GLOBAL products can help your workforce
increase efficiency and productivity visit www.bos-360.com
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 focused on building a global
distribution partner network via Enterprise Software Vendors,
Professional Services organisations and Consulting Practices.
The Company has a 40% equity interest in Call Design Pty Ltd, a
profitable, Australian based, global provider of workforce
management, 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 1st Rights of Offer and Refusal for
BOS GLOBAL to acquire the balance of Call Design on the same
financial terms as the initial 40% investment
Call Design sets a new standard for Workforce Management, while
BOS GLOBAL's software sets a new standard for Workforce Efficiency.
Both products will be offered through BOS360 PaaS, setting a new
standard for Workforce 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 and
Sydney. The Company also has a regional office in Hong Kong,
responsible for the Asia-Pacific region.
The Company is working towards increasing its representation in
Europe, the Middle East and Africa ("EMEA") and North America with
that of Call Design.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
October 11, 2017 08:23 ET (12:23 GMT)
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