Key Developments For B.O.S. Better Online Solutions Ltd
B.O.S. Better Online Solutions Ltd (BOSC.O) (Consolidated Issue listed on NASDAQ Capital Market)
B.O.S. Better On-line Solutions Announces Appointment of Yuval Viner As Acting Chief Executive Officer And of Avidan Zelicovsky As Acting President
B.O.S. Better On-line Solutions announced that Shalom Daskal has ceased to serve as the Chief Executive Officer of the Company effective October 20, 2009. Mr. Daskal is succeeded by Mr. Yuval Viner, who has been appointed as acting Chief Executive Officer. In addition, Mr. Avidan Zelicovsky has been appointed as the acting President of the Company.
B.O.S. Better On-line Solutions Completes Convertible Debt Financing Of $2.4 Million
B.O.S. Better On-line Solutions announced that it has closed a $2.4 million convertible loan financing with several lenders including Catalyst Private Equity Partners (Israel) II L.P., Telegraph Hill Capital Fund I, LLC, certain existing shareholders and members of its management. The financing proceeds shall be used mainly for working capital. The financing consists of loans with a term of three years that bear interest at a rate equal to 8% per annum, compounded annually. The Company shall repay the loan principal amount and the accrued interest in one payment at the end of the term, unless converted earlier into ordinary shares at the discretion of the lender. The loan conversion rate is $0.65 per ordinary share reflecting a premium over the Company's current share price of $0.39.
B.O.S. Better On-line Solutions Announces Sale of Waste Management System Including 1 Million RFID Tags
B.O.S. Better On-line Solutions announced that it has provided BOS - Waste management system including over 1 million radio frequency identification (RFID) tags to Otto, a provider of integrated solutions for waste management in Europe and in the United States. Using the Company's RFID solution will enable Otto to manage and track waste collection, control waste management sub-contractors and offer better waste removal services to the public. The Company through its subsidiary BOS supply chain solutions (ODEM) , has designed a RFID tag for the Otto's bins, and is also supplying Otto with the appropriate RFID readers and antennas. All the hardware operates in a wide range of climates and weather conditions, and is also appropriate for liquid waste materials. In addition to the RFID tags, the Company is also supplying software to track waste collection routes.
B.O.S. Better Online Solutions Ltd. To Delist Its Shares From Tel-Aviv Stock Exchange As Of May 10, 2009
B.O.S. Better Online Solutions Ltd. announced that the last day for trading of its ordinary shares on the Tel-Aviv Stock Exchange (“TASE”) is May 10, 2009. The Company’s ordinary shares will continue to be listed on the Nasdaq Global Market. After the delisting of the Company’s shares from the TASE, the Registrant will not be subject to reporting requirements in Israel.
B.O.S. Better OnLine Solutions Ltd. Requests To Delist From The Tel Aviv Stock Exchange
B.O.S. Better Online Solutions Ltd. announced that it has requested the Tel Aviv Stock Exchange (TASE) to delist its shares from trading in Tel Aviv. Under applicable Israeli law, the delisting will become effective in three months, during such time the Company’s ordinary shares will continue to trade on the TASE. The Company will announce the exact date for delisting following the TASE’s decision on the Company’s request. The delisting of the ordinary shares from the TASE will not affect the continued listing of the ordinary shares on the Nasdaq Global Market under the symbol BOSC. After the delisting of the Company’s shares from the TASE, the Company will not be subject to reporting requirements in Israel.
