BOS GLOBAL Holdings Limited Innovation Convertible Note -Conversion Notice (5466Q)

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: [phone] 
  Non-Executive        Limited                443319 
  Director 
  David Ireland                               Tel: [phone] 
  Chairman                                    4071 
===================  =====================  ===================== 
 Andrew Thomson       RFC Ambrian            Tel: [phone] 
  NOMAD                Limited                2500 
===================  =====================  ===================== 
 Charles Goodfellow   Peterhouse Corporate   Tel: [phone] 
  / Lucy Williams      Finance Limited        9791 
  Broker 
===================  =====================  ===================== 
 Megan Dennison       St Brides Partners     Tel: [phone] 
  / 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

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September 12, 2017 11:45 ET (15:45 GMT)