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18 October 2013 

ComOps Limited (ASX:COM) is pleased to announce a partially underwritten pro-rata non‐renounceable rights issue (Entitlement Offer) of up to 150,644,348 fully paid ordinary shares on the basis of one new share for every one share held by shareholders on the record date at an issue price of $0.015 (1.5 cents) per share, to raise $2.26 million (before costs).

The issue price represents a discount of 48% to the closing price of ComOps’ shares on 17 October 2013. 

Bligh Capital Securities Pty Ltd ACN 131 668 810, a Sydney-based independent advisory and investment firm specialising in corporate finance and institutional equity and sales and research (Bligh Capital) has agreed to partially underwrite the Entitlement Offer up to a maximum of 112,983,261 shares. All of the ComOps directors have committed to take up a minimum of 50% of their entitlements and to sub-underwrite up to 48,636,131 shares if there is a shortfall under the Entitlement Offer. In addition, Kestrel Capital Pty Limited ACN 061 515 062, a shareholder of ComOps has committed to take up and cause its associate to take up all of their entitlements under the Entitlement Offer and to sub-underwrite 29,677,374 shares if there is a shortfall under the Entitlement Offer. 

Mr Peter Wicks, Chairman of ComOps commented “The Rights Issue offer by ComOps is at an attractive price for our shareholders and is designed to provide funds to be used to discharge the Company’s obligations to the Australian Tax Office and other creditors under agreed arrangements after which any residual funds will be used as additional working capital to enable the Company to pursue its corporate objectives”. 

Shareholders may also elect to participate in the shortfall facility and apply for new shares in excess of their pro rata entitlements under the Rights Issue.

Click Here to read the full Media Release - ComOps Ltd [COM] announces Non-Renounceable Rights Issue Offer to Raise Up to $2.26 million

Click Here to read - Appendix_03B

Click Here to read - Notice under section 708AA(2)(f) of the Corporations Act 2001

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17 July 2013

ComOps Limited (ASX:COM), a leading Australian provider of business software products and services, has entered into an agreement with Markinson Software Solutions Pty Ltd (Markinson) to sell its Korellus Enterprise Resource Planning (ERP) business operations and assets.

The proposed sale of the ERP business to Markinson follows a review undertaken by the ComOps Ltd board of directors to assess the most appropriate action to be taken to reduce debt and build value for shareholders in its expanding workforce management markets. The directors have each indicated that as shareholders it is their intention to vote in favour of the sale and the board unanimously recommends that Shareholders vote in favour of the sale.

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3rd June 2013

Following the announcement of the resignation of Mr Alex Ninis as an independent non-executive director on Friday 31 May, 2013, the ComOps Limited Board of Directors is pleased to announce the appointment of Mr Stephen Rattray as a new non-executive director of ComOps Limited.

Mr Rattray has been principal of management consultancy Time Management Group P/L for the past 25 years, during which time he has designed and or managed numerous corporate rebranding, restructuring and reorganisation projects, established and run the Australasian operations of several US financial information distribution groups [Dow Jones / Telerate] and been CEO of an ASX listed technologies group.

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28th June 2013

The ComOps Limited Board of Directors is pleased to announce the appointment of Mr. Peter Wicks and Mr. Andrew Roberts as new non-executive directors of ComOps Limited.

Their appointment follows the previously announced resignation of Mr. Murray Creighton and Mr. Tony Karabatsas as independent non-executive directors of ComOps Limited. The resignations become effective today and the Board records its appreciation for the efforts of Mr. Creighton and Mr. Karabatsas since their appointments.

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8th April 2013

The ComOps Limited Board of Directors has advised that it has accepted the resignation of its Chief Executive Officer, Mr. Daniel Sheahan, which will be effective 30th June 2013. The board has expressed their thanks to Daniel for his contributions to the company and they will soon be commencing their search to recruit a suitable new CEO. 

In the interim, the board is pleased to announce the appointment of Mr. Colin Henson as Joint CEO of ComOps Limited. This appointment will be on a part-time basis until 30th June 2013.

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