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ComOps Announces $1.65 million Placement

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 6 June 2014

ComOps Limited (ASX: COM) (ComOps or the Company) is pleased to announce that, following shareholder approvals at its general meeting on 20 May 2014, it has agreed to place:

  • 50 million fully paid ordinary shares (Shares) to professional and sophisticated investors, raising $1.25 million; and 
  • 16 million Shares to related parties, raising $0.4 million.

The Shares will be issued at an issue price of 2.5 cents each, raising a total aggregate sum of $1.65 million (before costs).

The funds raised from the placement will be used for expansion of ComOps’ workforce management business, including

  • 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 12 June 2014.

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