BPS completes funds raising and acquisitions

14th December 2015
BPS completes funds raising and acquisitions 

BPS Technology Limited (“BPS”) (ASX: BPS) is pleased to announce it has finalised the issue and placement of Convertible Notes at $1.175 per share conversion ratio and raising a total of $5 million on terms favourable to the Company. 
Key highlights:

  • Strongly supported institutional placement
  • Three new Listed Investment Companies join the register
  • Funding for earnings accretive acquisitions

The proceeds will be used to fund earnings accretive acquisitions and to further accelerate merchant growth in our key strategic areas.
BPS can announce that these new funds have, in part, been immediately applied to the purchase of two additional key Bartercard Franchise territories.  In doing so, this will accelerate the joining of new merchants and assist in the rollout of the bucqi payment and loyalty platform which is currently being launched in selected areas within Queensland.
To read the full announcement, click here

Source: Wholesale investor
Article link: http://www.wholesaleinvestor.com.au/bps-completes-funds-raising-and-acquisitions/
Date: 14th December 2015