26 February 2019
Australian intelligent workforce solutions company Tambla Limited (ASX: TBL) (‘Tambla’ or ‘the Company’) is pleased to advise that its Convertible Note subscription has opened today.
The Company is seeking to raise a minimum of $1 million through this convertible note, and Kestrel Capital and clients of Taylor Collison have indicated they will subscribe for the minimum amount sought. As previously disclosed, Kestrel Capital is a related entity to Tambla directors, Niall Cairns and Phillip Carter. Taylor Collison is acting as Corporate Advisor to this transaction. The Company expects to complete the transaction on or about Friday 8 March 2019.
The key terms of the Convertible Note Subscription can be found in Schedule 1 attached to this announcement.
Funds from the convertible note subscription will be primarily invested in sales and marketing initiatives to accelerate the company’s current growth plans. A portion of the funds will also be used to expand and develop the growing inbound opportunities from North America relating to the company’s market leading business-rule interpretation engine.
Tambla is an innovative enterprise HR software company delivering cloud-first intelligent workforce solutions to organisations with large shift-based workforces. Tambla provides these companies with the tools to ensure visibility, optimisation and compliance of their workforces globally. Tambla supports more than 180 customers in over 5800 locations globally, including leading organisations within aviation, transportation, retail, hospitality and health.
Chris Fydler, Chief Executive Officer
Christopher Brooke, Company Secretary
Telephone +61 9122 6200
The full release can be read by clicking here