Proactive Investors - Run By Investors For Investors

BOS GLOBAL confirms departure of two directors; AGM adjourned until New Year

BOS GLOBAL said it is looking to appoint new directors as only one, Mark Uhren, currently remains
boardroom
Shares are suspended pending clarification of BOS's financial position, board composition and publication of its accounts

Office productivity software group BOS GLOBAL Holdings Ltd (LON:BOS) confirmed on Friday that two of its directors have resigned from the board ahead of the annual general meeting.

Adam Webb and David Ireland were up for re-election but handed in their resignations beforehand.

That leaves the remaining director, Mark Uhren, in a tricky spot as BOS’s constitution means that without at least three board members he can only act in an emergency.

The company said it was on the lookout for replacement directors, adding that it will make an announcement in due course should someone be appointed.

After the resignations the AGM was adjourned until 17 January to allow for the annual report to be completed.

Shares suspended

BOS shares were suspended on Thursday after talks with a potential funding partner broke down.

READ: Ex-CEO wants back in

The firm is in need of a cash injection after Innovation Corporation – the company’s main lender and the vehicle of ex-chief executive Michael Travia – cut its funding last month.

A proposal is on the table from a group of shareholders and that looks like the best chance of the company avoiding administration.

View full BOS profile View Profile

BOS GLOBAL Holdings Timeline

Newswire
January 09 2018

Related Articles

Apps on a smartphone
Mon
“While this year our focus has very much been about developing our product, in the coming year the primary objective will be to increase revenues and margins,” chief executive Philip Marcella said
Mergers & acquisitions - takeover
January 11 2018
"Vermeg's acquisition of Lombard Risk will create a leading global financial software provider," said Badreddine Ouali, founder and chairman of Vermeg
Top-level domains
October 11 2018
In its interims, management undertook a full review of historic legacy agreements that led to a final US$721,000 final restructuring payment made against one agreement and an onerous contract provision on another resulting in a one-time write down for future expected losses of US$7mln with an associated US$4.1mln reduction in intangible assets to US$81.5mln.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use