TIDMBOS
RNS Number : 5466Q
BOS GLOBAL Holdings Limited
12 September 2017
BOS GLOBAL Holdings Limited
ACN 009 087 852
AIM Release
12 September 2017
Innovation Convertible Note - Conversion Notice
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 received and accepted a Conversion Notice from Innovation
for GBP371,391 at a fixed rate of 16 pence per share in accordance
with the terms of its GBP1.875m Convertible Note agreement ("Note")
with Innovation Corporation Limited ("Innovation"). This relates to
funds earlier drawn down (see RNS of 11 September 2017) but for
which no Conversion Notice had previously been received.
As a result, Innovation will receive 2,321,194 fully paid
ordinary shares in BOS. Application will be made to admit these
shares to trading on AIM with admission expected on or about Monday
18 September 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 2,321,194 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.
The Company confirms that, as a consequence of this Conversion
Notice, it currently has no debt outstanding.
As advised in the RNS of 11 September 2017, GBP1,503,609 remains
available to the Company under the Note. Following admission of the
conversion shares, BOS will have 78,228,960 fully paid ordinary
shares in issue and the following options and warrants on
issue:
2,321,194 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 33,900,271
shares, representing 43.3% of the total shares on issue and
2,321,194 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
=================== ===================== =====================
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') launching 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 will be
launched this month 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
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 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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September 12, 2017 11:45 ET (15:45 GMT)
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