BOS GLOBAL Holdings Limited DJ Convertible Note - Drawdown & Conversion (9873T)

TIDMBOS

RNS Number : 9873T

BOS GLOBAL Holdings Limited

12 January 2017

BOS GLOBAL Holdings Limited

ACN 009 087 852

AIM Release

12 January 2017

DJ Convertible Note -Drawdown & Conversion

BOS GLOBAL Holdings Limited ("BOS" or "the Company") (AIM: BOS), advises that it has completed the secondly monthly drawdown of GBP116,000 due January 2017 under its GBP1.392m Convertible Note agreement ("Note") with DJ Family Trust ("DJFT").

The Company has also received and accepted a Conversion Notice from DJFT for GBP116,000 at a fixed rate of 16 pence per share in accordance with the terms of the Note. As a result, DJFT will receive 725,000 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 Wednesday 18 January 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.

After this second drawdown, GBP1,160,000 remains available to the Company under the Note. The next monthly instalment of GBP116,000 is due on 15 February 2017. Following admission of the conversion shares, BOS will have 67,491,866 fully paid ordinary shares in issue. Entities associated with Michael Travia will hold 28,431,511 shares, representing 41.8% of the total shares on issue.

For further information please visit www.bosglobal.com or contact:

 
 Michael Travia       BOS GLOBAL Holdings    Tel: [phone] 
  Managing Director    Limited                4071 
                                              E: [e-mail] 
===================  =====================  ============================== 
 Oliver Morse         RFC Ambrian Limited    Tel: [phone] 
  NOMAD                                       2500 
===================  =====================  ============================== 
 Charles Goodfellow   Peterhouse Corporate   Tel: +44 (0) 20 
  / Lucy Williams      Finance Limited        7220 9791 
  Broker 
===================  =====================  ============================== 
 Elisabeth Cowell     St Brides Partners     Tel: +44 (0) 20 
  / Charlotte          Ltd                    7236 1177 
  Page 
  Financial PR 
===================  =====================  ============================== 
 

About BOS GLOBAL

BOS GLOBAL is a software company focused on creating enterprise productivity solutions for the global workforce market. It does this through a blend of business process automation, intelligence gathering and advanced analytics to drive efficient business practices and workplace engagement.

The Company is currently developing the BOS360 Work Patterns Platform based upon its existing and international patent pending research and development, and to provide businesses with a comprehensive platform through which they can capture, manage and measure efficiency in real time at the individual, team and organisational level.

This information is provided by RNS

The company news service from the London Stock Exchange

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January 12, 2017 02:00 ET (07:00 GMT)