Updated: Fri, 21st Apr. 14:50:05
(ShareCast News) - Productivity software developer BOS Global Holdings updated the market on Friday on the conditional agreement to acquire a 40% interest in Call Design, which was announced on 20 March.
The AIM-traded company advised that it had satisfied one of the major conditions precedent, having completed due diligence to the satisfaction of the board.
As a result, it said it was proceeding toward settlement including finalising a share purchase agreement with Call Design's shareholders.
It said it expected that completion would occur on or before 21 May.
Following completion, it was expected that Michael Travia would join the board of Call Design as a non-executive director to represent the 40% interest of BOS.
BOS GLOBAL described Call Design as a "profitable, Australia-based, global provider of workforce optimisation tools" focused particularly on call centre services, which held an established blue chip client base.
It expected that the cash consideration of £0.28m would be funded through a drawdown on the company's existing convertible loan note facility in place with Innovation Corporation.
The convertible facility, which was initially notified on 30 August 2016, currently had a balance available to be drawn down of £1.002m, and there would also be 5,040,000 consideration shares in BOS issued on completion.
BOS GLOBAL said it continued to work closely with Call Design, as a "platinum reseller" representing BOS Products worldwide, to deploy BOS products on a commercial basis and identify opportunities for sales of BOS products to Call Design's client base..
"I am delighted at the progress of both companies to reach this important milestone," said Michael Travia.
"As a member of Call Design's board I look forward to representing the significant investment and opportunity on behalf of the company and our shareholders, including assisting Call Design with its board strategy to grow exponentially over the next three years."
|EPIC CODE||COMPANY NAME||TRADE|
Disclaimer: This news feed is provided by Digital Look Ltd. BullBearings Ltd do not necessarily share the views expressed within the stories. The stories are for general information purposes only and not a solicitation or personal recommendation to deal. BullBearings Ltd accepts no liability or responsibility for any of the content contained in the information provided by Digital Look Ltd.
They say “breaking up is hard to do” but in financial market break-ups spinoffs can be very profitable and give companies a new lease of life.
A spinoff is the creation of an independent company or in some cases more than one company through the sale or distribution of new shares of an existing listed company to shareholders holding the parent company at a certain date.
Three years ago I came up with the concept for a investment-focused podcast for the ShareTalk website I work on, called Conkers' Corner after my Twitter handle of @conkers3, and five months ago the first recording was made. Below are some of the lessons I have learned or have been reinforced during these years.
The concept of Conkers' Corner is very simple yet extremely educational and beneficial for all: the participants in the podcasts and interviews since I started in May 2016 have included shrewd investors/traders, ISA millionaires, high net worth individuals, business leaders, CEOs, highly respected fund managers and investment writers.
There’s a great debate in the financial industry about which type of analysis produces the best results for traders - is it better to be a technical trader or to rely on the fundamentals?
Is there a common ground between the two? We’ve all heard the phrase All roads lead to Rome. In this article we’ll explore whether this applies to the financial markets.
Graham Spooner, investment research analyst at the Share Centre, picks three top shares among the most popular purchases by equities clients in the last seven days.