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It's over.

The phone number on website doesn't go to an active line.

None of the email contacts reply. Not even the people in RNS.

Nothing on Google about Lucas Kanme new CEO. Let that sink in. NOTHING ON GOOGLE about him.

No RNS for weeks.

Company owes pay settled in court to several former employees. Woodbois did not even contest because there is no one in a position of authority to contest. Literally there's just 2 independent nominated advisers and a CEO no one has heard of.

Dissolution strike off order in a few days.

Several immediate debts to banks.

No one on social media responds.

Previous CEO and CFO resigned with immediate effect.

........

I can't understand why a new NOMAD was appointed and why trading on this was allowed to resume? It was around 0.28 at suspension and has sunk to below 0.05. what due diligence was done given everything just described ?

The company is toast. Seems to me like some sort of scam or fraud has been engineered over the last year or so (i have no evidence). Suspicions arise over the sale of Mozambique hectare assets? Perhaps to a new shell company on the cheap? The whole thing absolutely stinks now.

As usual do your own research. Thoughts are just my own.

Hard to sell now. Most sell orders getting rejected. This is done. Do your own research. Gutted but don't see any upside from here now. Accepting defeat personally.

Ok people I am out. I will be gutted if it rebounds now but I've seen enough on companies house to see this is completely dead. Dissolution motion for 4th March

Date(document was filed at Companies House) Description(of the document filed at Companies House) View / Download(PDF file, link opens in new window)

04 Mar 2025 First Gazette notice for compulsory strike-off

View PDF First Gazette notice for compulsory strike-off - link opens in a new window - 1 page(1 page)

28 Feb 2025 Termination of appointment of Guido Wilhelmus Petrus Maria Theuns as a director on 28 February 2025

Do your own research

The fact this is still trading at all gives me confidence guys.

All logic suggests that this should be game over.

However, let's consider that the company still maintains an active presence on linkedin with dozens of employees and the fact that a new nomad was appointed to bring it out of suspension. It must just be that the due diligence on the new CEO is taking a while. There still remains quite a few wealthy individuals among the major shareholders. I do feel that something is brewing. Lots of untapped potential.

Guido was just disastrous as a manager - arrogant, haughty and underqualified. They need a corporate finance guru to get the debts and liquidity back under control and that's what they've gone for. A new finance manager and a new HR manager have been hired. An experienced team headed by Henriquet oversee the forestry operations.

Each day this continues to trade gives me more and more confidence. It confirms to me that the due diligence on Mr Kanme and negotiations with major shareholders are very thorough. All hope is not lost here. The debts will be renegotiated by a corporate finance expert.

Do your own research but personally I'm thinking of loading up again at these rock bottom prices. I do think good news is just around the corner. That's my gut feeling. If you never gamble you never win.

LET'S HAVE SOME POSITIVITY FOR ONCE!

It is genuinely really worrying now. What baffles me is why a Nomad took it on and why it continues to trade if it's as doomed as you would expect given the spare or news and lack of rns? It doesn't make any logical sense. Anyone can put a positive spin on things ?

2 weeks since an RNS 🙄.

Btw for those wondering re woodbois services/woodbois limited. It seems to merely be administrative purposes. If you go onto companies house for woodbois services limited and click on "persons with significant control" it lists woodbois limited as being in control since 2019 with the ability to point directors.

156,000 hectares of Gabonese woodland is an extraordinary amount of potential valuable hardwood. We are talking billions of dollars worth in retail value. Yes there are huge costs involved in transportation, veneering, salaries, legal fees, compliance but the law product is very valuable. Do you dispute this ? 156,000 hectares is twice the size of new York city.

The Mozambique operations accounted for less than 1% of group assets and still acquired a sale price of $1m. Do the math and 100% sale of all assets would be $100m+. I see nothing suggesting they sold 70% of the concessions and if they did the value would be 10s of millions. Am I missing something ?

Do you concede that woodbois' net assets cover their debts multiple times over?

I have done some more research and tried to ignore the background noise.

I re-read the full audited results for 2023 which was dropped in an RNS on 28th June 2024. Note this was dissected and analysed by a professional independent auditor (littejohn llp) who is legally obliged to provide accurate accounting and data.

The findings show that woodbois at the end of 2023 possessed approx 217 million dollars worth of assets, of these the overwhelming majority was comrpised of 180 million dollars worth of biological assets (the hectares of forestry land multiple times the size of greater London). The other 37m is made of equipment and other current assets (cash balance etc).

If you consider that current debts to Nykredit and Gabonese bank total 5-10m, in any fire sale the company can still cover this multiple times over. Even if current debt and liabilities were a staggering 50m and biological assets had to be sold on the cheap (say 100m) , there is still value for shareholders.

2024 was just a horrifically awful year plagued by awful management and squabbling unprofessional directorship. The one constant is that biological assets have not changed. The company has 100s of thousands worth of Gabonese forestry concessions. This is extremely lucrative and something we must ot forget.

At 0.05 I do believe this to be extraordinary value and I am as commited as ever. The pani selling is all down to mediocre incompetent management and nothing to do with the fundamentals of the business. With a proper structure and management in place this is an extremely lucrative proposition. Shareholders should be fine and safe and do not face wipeout. Even in the event of the company being considered insolvent its assets would be sold and creditors and shareholders and hopefully employees would be covered . It is my belief that the shrewd major shareholders are aware of the phenomenal value of the biological assets and that's why they have endeavoured to have this reinstated.

I am extremely optimistic this will turn around. Earmark and bookmark this post as reference if I'm wrong.

I'm all in now. Extremely oversold. Do your own research.

I think good news coming once the new team in place.

Your post is factually incorrect samthespaniel.

The major seller at 6p was Mr H Turcan.

As recently as 2 years ago Miles Pelham joined the Woodbois BOD as a strategic advisor and was instrumental in securing additional fundraising and capital for the company.

Pelham through his vehicle Rhino Ventures LTD is most likely the largest single shareholder at this present time. It was CHCH who was the major share seller in the last 18 months. All of this is verifiable and a paper trail.

The hope for current holders would be that Mr Pelham (a former Chairman of the company) is still as invested and as passionate as he once was (I recommend you watch some of his YouTube interviews - search "Miles Pelham Woodbois" and you will see his passion for the company and its hectare concessions - this was alluded to in recent years when he joined as strategic advisor.

It is my belief that Rhino Ventures aka Pelham was the main person behind Guido being forced out of the company (non-voting shares converted to voting shares suggests this). The new CEO Mr Kanme is most likely a Pelham handpicked appointment.

We await further RNS and the due diligence to be completed on Mr Kanme before we can speculate further.

I do believe that there remains some positives. If we could eliminate 2024 and Guido from Woodbois history I am sure we would still be on a sound footing, for example. Pelham and other major shareholders are probably shrewd enough to identify that the problems have been created by incompetent management rather than anything fundamentally wrong with the business.

There is in theory lots to be excited about by the eco-friendly business model.

Kind Regards

Do your own research. Refer to previous RNS

Valsen, I was reading through your historical posts and you first started warning us when SP was 0.55 so since then there has been a 90% drop. You posted articles from topinfos Gabon which painted a picture we in Europe do not see.

What is clear to me however is that most of the mess and mismanagement lies at the feet of Guido. The company was fairly responsibly and well run before 2024. There were never issues like employees not being paid and there was transparency with audited accounts, figures etc competent directors such as Geddes and Dolan.

To me it looks like a case of Guido being unqualified for the role he took on and the colossal lack of capability destroyed the fundamentals of woodbois.

My hope, and what makes me reluctant to sell at this point, is that major shareholders recognise this and finally ran out of patience with Guido, prompting his resignation (before he was pushed). It's interesting that he has run off to Panama after leaving a trail of destruction. Sincerely, don't you think it's possible that this can be turned around and revert to pre-2023 levels with some proper vertical management and operational excellence?

I can't help but to wonder why a new Nomad took this on after lengthy discussions with major shareholders if there weren't some pretty groundbreaking conversations. Why did Rhino flex and convert to voting shares at the same time Guido resigned ? Surely this is an important clue.

You have to admit it's curious why this still continues to trade and why there are huge efforts being made to keep the company afloat if it's as devastating as is being made out. If you accept that the blame for the recent failings ultimately falls on Guido being unqualified, why can't this be rectified ?

Please, sincerely, try to see it from a positive angle and comment.

My logic has deducted that Sarah's motive is to prompt as many people reading this as possible to sell their shares, further sinking the SP. Sarah wishes to enter as low as possible knowing full well it's not going to go bust. She probably looks for companies in similar situations and it's a strategic ploy. Buy as cheap as possible then sell for a tidy profit as soon as she can.

She knows there's 100s of employees, vested shareholders, new CEO, forward orders in the bank. She knows fine well better than any of us that this is extremely oversold so she expects to be able to make a lucrative profit in the medium term. There's no other explanation for her obsession here.

Do your own research.

Many thanks

All the best

6% rise today. I am confident this will turn around. All of the bad news is over. We have already hit rock bottom. There is lots to be positive about. New CEO and new team. Production resumed and ramped up. Experience of Henriquet. The fatal errors of the Guido era mismanagement being rectified. There is light at the end of the tunnel. Allenby wouldn't have taken this on without the reassurances from the major shareholders.

Sarah give it a few months and you will be like a little lamb apologising to Amy sheepishly. Do you promise to write a written apology to Amy here publically once this reaches 0.25 again?

Good news coming in my opinion. Extremely oversold.

40 million shares buy and a sudden 10% jump. Leak?

Is Sarah or iluvsushi the buyer ? Lol

I don't think your post is entirely accurate.

There was an entity referred to as CHCH who was revealed to be the seller from 1p down to 0.30 levels. A recent RNS from December 2024 showed that Rhino Ventures had converted 525m voting shares to non-voting shares, which in theory meant that Rhino would be the single largest active voting shareholder with over 15% of voting ordinary shares in issue.

Guido and Bloemen resigned around the same time Rhino converted to voting shares, suggesting a disagreement between largest shareholder and CEO over the direction of the company.

I believe that it's not in Rhino's interest for the company to go bust if you buy in at 6p and it's currently 0.05.

It's actually very encouraging that the company is still trading despite the myriad of devastating news recently. Efforts to appoint a new CEO and linkedin evidence of exports taking place are very positive developments.

We await further RNS. I feel we are due some good news for a change at some point.

P.S Where is Sarah? Is her mission complete?

No sign of Sarah etc now? Have they achieved their goal of pooping the SP down as far as possible ?

All blue buys today and shares being snapped up on the extreme cheap. What is going on?

I also refer Valsen to 9th December 2024 RNS which shows an insight into how many containers and also into order book which should be able to appease creditors.

Let's not forget this was already brought out of suspension and a new nomad was found. 0.05 could be incredible value once new CEO and team have feet under the table.

There is light at the end of the tunnel.

Quiet here for a Monday when it's all blue? Why?

Joking aside...

We have received your application which will be reviewed by our HR teams. If we do not receive a response within 15 days, please consider that your application has not been accepted.

The positions of Mouila accountant, Treasury accountant and finance manager have been filled

Woodbois HR Department

Positive news.

I have done some more digging and uncovered 2 new vacancies for key positions.

HR Manager

Finance Manager

This shows the company are actively trying to form a new management team and are recruiting. Hardly a company on the brink of collapse?

I remember working for large corporations and there was always a recruitment freeze during turbulent financial times.

The company seems keen to expand and possible the new CEO is linked to this. Proof of adverts below, make of it what you will . I am optimistic 0.04 look crazy soon. Way oversold

https://urlr.me/beTyMa Description

Woodbois Gabon, as part of its development, is looking for its Finance department manager.

Job Description :

Under the authority of the General Manager, you will be in charge of the company's finance department.

Your main missions will be as follows:

Organize and supervise the accounting team of 3 people

Supervise general accounting including monthly justification of balance sheet accounts

Establish the monthly closing on time

Ensure relations with third parties: banks, CACs, suppliers, etc.

Ensure compliance with tax regulations and make all related declarations,

Implement and improve existing accounting procedures

With experience in implementing information systems, you will be the leader in implementing the Sage commercial management module and in improving the Sage accounting tool.

The position is based in Libreville with frequent travel to Mouila

How do you know rhino is the one selling their shares ?

Doesn't make logical sense. Pelham bought in at 6p no? So selling at 0.10 does not make any sense.

Maybe there's something going on we don't know about

Well one thing is certain - we will know one way or the other very soon. At 0.04 it's either going to be suspended and insolvent or rescued. This can't drag out for much longer. In the next week to month we will get confirmation of what exactly is going on. It will be good to put out of our misery if that's what happens - the uncertainty and false hope is worse than finality.

There's absolutely no point in anyone selling at this point. To recoup 1-5% of your investment is pointless, you might as well throw your last chip in the middle with your 72 off suit and hope for 777 on the flop.

It's true I really regret investing here. When I did things were far brighter and I never envisioned it being as catastrophic as it became. It's very clear to me that the likes of Guido were pretty clueless as to how to operate this business. Guys like Dolan knew what they were doing and the business was on a more solid footing back then.

I still maintain hold that key investors recognise that the problems have been created because of gross incompetent management and not because of anything wrong with the fundamentals of the business.

I do believe that the concept of the business is one which should be profitable and sustainable. If they can resolve the obstacles of poor finance and liquidity it is salvageable with the correct structure in place.

We really just need to wait and see what becomes of this Mr Kanme and a supposed new team.

Our best hope is probably that someone sees this as a cheap takeover and can negotiate debt levels down in order to safeguard employees.

What brings me hope is the fact that it continues to trade and Allenby were happy to become NOMAD and reinstate trading on AIM. I keep questioning why they would do this without solid information and belief that the finances could be resolved.

Interesting week ahead. It's boom or bust really.