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BOS Global's board spells out conditions for departure

If Innovation cannot guarantee funding, they want a separate cash raise to be organised by broker Peterhouse

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BOS is focused on business software

BOS GLOBAL Holdings’s (LON:BOS) directors have agreed to stand down, but only if former chief executive Michael Travia also ends his attempt to be reinstated.

Travia’s vehicle, Innovation Capital, is the business software group’s main funder and shareholder.

READ: BOS Global still in talks over raising more cash

Innovation has called a general meeting to reappoint Travia, appoint Marcus Yeoman, remove non-exec Adam Webb and appoint a new chairman.

BOS’s directors accept that they will have to stand down but if they are to go quietly want several things. They want two alternative directors, Innovation to present a funding plan and to explain how it will get the accounts to June 2017 signed off and for a new nominated adviser to be appointed.

READ: BOS Global takes steps to address working capital position

If Innovation cannot guarantee funding, they want a separate cash raise to be organised by broker Peterhouse, which they say Innovation has resisted previously.

 

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AIM:BOS
Market: AIM
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