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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bos Glb Hldgs | LSE:BOS | London | Ordinary Share | AU000XINEAC2 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.90 | 0.65 | 1.15 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMFTE Restructuring of Convertible Note Agreements BOS Global Holdings NL ACN 009 087 852 AIM Release 30 August 2016 Restructuring of Convertible Note Agreements BOS Global Holdings NL ("BOS" or "the Company") (AIM: BOS), is pleased to advise that it has today entered into revised agreements with its existing Convertible Note holders and entered into a new Convertible Note agreement. The existing Convertible Note agreement with Capresi Consolidated Limited ("Capresi") (the "Capresi Note Agreement") has been amended such that: * the total principal loan amount available under the Capresi Note Agreement is reduced from GBP300,000 to GBP200,000 (currently drawn down GBP148,000); * the loan amount is to be converted at a fixed conversion rate of 6 pence per share, being a 25% discount to the expected price for BOS shares at Admission to trading on AIM ("Admission Price") of 8 pence per share, instead of converting at a 30% discount to an average weighted market price calculated from selected trading days during the 5 trading days prior to conversion; * conversion is to occur on or before 31 October 2016; and * conversion will result in the issue of 3,333,334 fully paid ordinary shares to Capresi. The existing Convertible Note agreement with DJ Family Trust ("DJFT") ("the DJFT Note Agreement") has been amended such that: * the total principal loan amount available under the DJFT Note Agreement is reduced from GBP600,000 down to GBP325,000 (currently drawn down GBP168,000); * the loan amount is to be converted at a fixed conversion rate of 6 pence per share, being a 25% discount to the Admission Price of 8 pence per share, instead of converting at a 30% discount to an average weighted market price calculated from selected trading days during the 5 trading days prior to conversion; * conversion is to occur on or before 30 November 2016; * conversion will result in the issue of 5,416,667 fully paid ordinary shares to DJFT; and * shares issued in relation to conversions under the DJFT Note Agreement will be subject to a 12- month lock-in agreement from the date of conversion. * Shares cannot be loaned The Company has also entered into a second Convertible Note agreement with DJFT (the "New DJFT Note Agreement"). The principal terms of the New DJFT Note Agreement include: * a total principal amount of up to GBP1,392,000 will be provided in fixed monthly instalments of GBP116,000, for a period of 12 months commencing 15 December 2016; * interest is payable at 1.67% of the balance outstanding under the agreement at the end of each month (annual rate of interest 20%); * the Company has the option to cease drawdowns under the New DJFT Note Agreement by providing DJFT with 30 days' written notice; * conversion is to occur on or about 15 November 2017; * the conversion price is fixed at 16 pence per share, which is a premium of 100% to the Admission Price of 8 pence; * each monthly instalment of GBP116,000 will entitle DJFT to receive 725,000 shares upon conversion; and * shares issued in relation to conversions under the New DJFT Note Agreement will be subject to a 12-month lock-in agreement from the date of conversion. * Shares cannot be loaned Larry Shutes, the independent chairman of BOS, welcomed the revised funding as it provides the opportunity for the Company to accelerate its development of the BOS 360 Work Patterns and redevelopment of its Meetingly and Kronologica products. DJFT is an Australian incorporated investment trust established for the management of the wealth of Michael Travia and his family, of which Michael Travia is the sole trustee, and which is a related party of the Company. The revision of the DJFT Note Agreement and the entering into of the New DJFT Note Agreement are considered to be a related party transaction under rule 13 of the AIM Rules for Companies. With the exception of Michael Travia, the Company's directors consider, having consulted with its nominated adviser, that the terms of the transaction are fair and reasonable insofar as shareholders are concerned. For further information, contact: Michael Travia, Managing Director BOS Global Holdings NL Tel: +61 (0) 8 9322 4071 Oliver Morse RFC Ambrian Ltd Tel: +61 (0) 8 9480 2500 (AIM Nominated Adviser to the Company) BOS Global Holdings NL Suite 3, Level 3 1292 Hay Street West Perth WA 6005 Ph: +61 (0)8 9322 4071 Fax: +61 (0)8 9322 4073 Email: info@forteenergy.com.au Web: www.forteenergy.com.au Forte Energy NL
(END) Dow Jones Newswires
August 30, 2016 02:17 ET (06:17 GMT)
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