LONDON (Alliance News) - BOS GLOBAL Holdings Ltd on Thursday said it will issue 725,000 shares to DJ Family Trust, after drawing down a further GBP116,000 from its convertible note agreement with the trust.
The enterprise software firm said the shares will be issued at the fixed conversion price of 16.00 pence per share, and are expected to be admitted to trading next Wednesday.
Shares in BOS were up 17% at 9.36p on Thursday morning.
Following the second monthly drawdown, BOS now has GBP1.2 million available under its GBP1.4 million convertible note.
DJ Family Trust is associated with BOS Managing Director Michael Travia and, in total, entities associated with him will own 42% of BOS's issued share capital after the second drawdown.
The next monthly installment of GBP116,000 is due on February 15.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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