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ComOps Announces Completion of Placement

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12 September 2014

ComOps Limited (ASX: COM) (ComOps or the Company) is pleased to announce that it has agreed to place:

42,933,335 million fully paid ordinary shares (Shares) to professional and sophisticated investors, raising $1,288,000.

The Shares will be issued at an issue price of $0.03 cents each, raising a total sum of $1,288,000 (before costs). In addition, the directors and director related entities have agreed to take up 12 million shares at an issue price of $0.03 cents each raising a further $360,000, either via potentially underwriting the planned rights issue or, subject to shareholder approval, by taking additional shares over and above their pro‐rata entitlement under the rights issue.

The placement is the first stage of the foreshadowed two-stage capital raising, with the second stage being a 1 for 4 non‐renounceable entitlement offer at $0.03 cents per share. The funds from the placement and the upcoming entitlement offer will be used for expansion of ComOps’ workforce management business, including:

funding for the E‐Tivity acquisition;
developing the “Microster” workforce management software business onto 3rd party platforms;
funding for value adding acquisitions (if and when appropriate targets are identified) to expand and enhance the reach of the Microster products and services; and
working capital.

Bligh Capital Securities Pty Ltd acted as Lead Manager to the placement.

The placement was made without disclosure to investors under Part 6D of the Corporations Act 2001. The new Shares will be issued to investors on or around 19 September 2014.

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