BOS GLOBAL Holdings Limited Innovation Convertible Note Drawdown & Conversion (3784H)

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: [phone] 
  Managing Director    Limited                4071 
                                              E: [e-mail] 
===================  =====================  ============================== 
 Andrew Thomson       RFC Ambrian            Tel: [phone] 
  NOMAD                Limited                2500 
===================  =====================  ============================== 
 Charles Goodfellow   Peterhouse Corporate   Tel: [phone] 
  / Lucy Williams      Finance Limited        9791 
  Broker 
===================  =====================  ============================== 
 Charlotte Page       St Brides Partners     Tel: [phone] 
  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

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(END) Dow Jones Newswires

June 07, 2017 02:00 ET (06:00 GMT)