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Not entirely surprising that there weren't any updates given it's the festive period.

Next week is when we should almost certainly hear some more information.

It's really encouraging that stock hasn't been delisted and nominated advisor remains on board, in light of the CEO and CFO resignations. This lends credence to much of what we have been discussing regarding rhino potential takeover or more active involvement.

If we were going under we would have done so already. On the contrary I suspect nomad is working closely with major shareholders and potential new directors.

There's certainly lots to be optimistic about. Hopefully a great turnaround and a bright future ahead. It can't linger at 0.19 forever - it's either boom or bust. I am confident rhino still see massive potential in the business. Indeed, the 50 year lease on extremely valuable mass of land is a phenomenal asset, the business just needs to get the correct mechanisms in place for actualising this.

Anyone have anything to add? I'm interested in Valsen's continued input from ground level too.

Still no RNS today but maybe this will drag on untill next week given that most people don't start back work until the Monday after new year. I expect high flying board room champagne exec types to be no different.

The timing is important here.

Guido resigned almost exactly 1 year after being appointed. Is it possible that he was on a yearly rollinh contract? He was a hired gun to come in to do a job - radical overhaul and tough decisions. A paid hand. Now his job is complete he's not been renewed or not wanted to renew for personal reasons.

It's probably very likely Guido was installed by previous largest shareholder. Now Pelham has flexed his muscles and made Rhino the single largest voting shareholder it's clear he intends to go in a different direction.

Ignore the haters. When the largest financial shareholder now actively positions itself to take a more prominent role on decision making this is good news for shareholders. It means Rhino's financial and objective aims are aligned. There is absolutely no benefit to Rhino of letting Woodbois go under. They have seen their investment dwindle significantly already (from 6p to 0.19), they would have been as well to just sit back and hope someone can fix it as they are effectively all in at current levels. On the contrary, Rhino probably see huge potential reading between the lines.

I'm very optimistic and today's RNS effectively expedites the transition process and we should hear about new management direction very soon. The only way is up.

Do your own research and Happy New Year to everyone. Your contributions are important, good or bad. It is good to have objective opposing arguments.

New RNS confirms that the planned conversion of non-voting into voting shares by Rhino has been completed. Confirming Rhino as the largest voting shareholder. This is pretty significant and probably a precursor to the next major announcement and the reason for Guido and Bloemens' resignations. Exciting times indeed. Anyone found any other news of note ?

This is simply not true. I can confirm communications have happened with employees of woodbois and the business has been active as recently as last week. It's Christmas period now. There are actual people working for the company. Guido and Bloemens were just paid hands and were not major shareholders. Information on largest shareholders is publically available. By converting ordinary shares to voting shares Rhino leapfrog Lipschitz as the largest single shareholder. It's not in rhinos interest for the company to go bust - they would lose more than any of us. To me it looks like a clear move from Rhino to take control of the immediate direction of the company.

I'm hoping and expecting announcements next week.

Seemingly still no news. Website hasn't been updated and still shows Guido and Bloemens as in charge, kind of unprofessional. Starting to get slightly concerned.

We just can't seem to push past 0.21. i think once it does it will fly.

Why wasn't there an rns this morning? What were the Comms with Clive Roberts which were alluded to?

Starting to lift off. All it should take is some good expected news and this will multibag. I'm really optimistic. All aboard the hype train! Dyor

Found this from 2022 half year results, during Paul Dolan's time as CEO

During the first half of 2022 Rhino Ventures Limited, the Company’s largest shareholder, disposed of

325,000,000 of its Non-Voting Ordinary Shares to an unconnected third party. In the period, Rhino Ventures

Limited also converted a total of 65,000,000 Non-Voting Ordinary Shares into Voting Ordinary Shares. Upon

Conversion, Rhino Ventures Limited transferred the 65,000,000 shares to its beneficial owner, Mr Miles

Pelham. Following Admission, Rhino and Mr Miles Pelham together held 442,500,000 Voting Ordinary

Shares in the Company, which represents 21.30% of the enlarged Voting Ordinary Shares. Rhino's holding

of 235,000,000 Non-Voting Ordinary Shares post Conversion represent 57.32% of the 410,000,000 Non-

Voting Ordinary Shares in the Company at 30 June 2022.

As set out in note 9, during H1 2022 the Company drew down $1m of the $2m Lombard Odier short-term

facility and the $2m unsecured facility agreed with Rhino Ventures was fully drawn down.

Can anyone make any sense of this? And it's relation to the current situation.

I have gone through all previous RNS with a microscope. Miles Pelham stepped down as chairman and ndo in 2019 after serving from 2016-2019 and having bought in at 6p. It was stated that he maintained a passive interest in woodbois and remained the largest shareholder, but stepped aside from serving as chairman of a company for personal reasons (other work or family interests). Rhino/Pelham have seemingly remained one of the major shareholders ever since.

Having viewed Pelham interviews from his time as chairman of Obtala (now Woodbois), the passion and excitably he had for the company's endeavours and growth potential shone through. He was particularly excited about the lifetime value of the 50 years lease on the forestry land, even suggesting £1bn+ worth of luxury African hardwood could be grown in that time. Pelham had an almost child like starry eyed enthusiasm for the growth potential and also cited its environmental benefits and how that would become very valuable in the modern marketplace.

Fast forward to now, I have deduced that Guido and Bloemens were indeed instated by a make Dutch shareholder. It doesn't take a genius to realise what's going on now. Pelham has sat back and watched his investment shrink over time and had given these boards a chance to make their mark. He has now seen Guido's tenure has been pretty disastrous and that's why he's moved to convert his primary shareholding into voting shares once again - in order to protect his interests and investment.

Pelham also probably has personal and professional working relationships with employees and associates of woodbois so probably has some moral incentive to save their jobs and livelihoods.

I have concluded that this is what is happening. Pelham has felt the time is right to get back involved. The major clue is with the move to convert non voting to voting shares. He wants to take the reigns again .

Just my 2 cents. Do your own research!

I have to ask myself, what motivation is there for people to post on a wbi thread warning us and scaring us into selling?

Is it some sort of altruistic benevolent actually of grace ? Probably most of the people invested in woodbois are nerd or finance types in affluent countries with disposable income. If we are stupid enough to waste our extra money on woodbois how come we are so fortunate to have people looking out for us and protecting our demographic? Surely there are groups of people far more in need of time and help than reasonably well off people investing in woodbois ?

Of course, maybe there is another motivation into encouraging people to sell? To create as low an entry point as possible in order to buy cheap. Just throwing it out there.

Exciting times ahead.

5% down when both CEO and CFO resigned is a phenomenal result.

I expect us to fly once rhino enter the fray and takeover. It's obviously the festive time just now and like most of us they have priorities such as family. I expect the news to land in the early part of January and it will only be positive.

There's no other logical reason for rhino to convert to voting shares than Pelham wanting a more active involvement. You're not going to buy in at 6p then get out at 0.19, it makes no logical sense. With such a drop you are all in.

Do your own research but it looks to me like Guido and Bloemens were brought in to do a job - ruthless cost cutting and transformation, and having done so have fulfilled their requirements and may have been paid off.

I believe the only way is up. There's simply too many vested interests for this to flop now. So much effort to have shares reinstated on AIM. If it was going to fail, crash and burn it would have done so when we were delisted.

Also as alluded to before, Pelham's video clips from 2016-2019 show a remarkable enthusiasm for the company and its environmental positivity and growth potential. He even spoke of the company having literally billions of worth of product over the lifetime of the 50 year lease (luxury African hardwood). He clearly saw remarkable potential to have invested previously at 6p. If you fork out his leaving RNS, he left position as chairman due to other life commitments but he still maintained an interest as one of the largest voting shareholders. Rhino's involvement to this current day suggests that hasn't changed.

Fortune favours the brave.

I took some time to watch publicly available videos of Miles Pelham interviews on YouTube from 2016-2019, his tenure as Charmaine. He spoke with enormous enthusiasm for

Well looks like no early morning rns which I suppose is good news since it means no suspension?

This will either multibag or delist over the next 2-3 weeks. I can't see it plateauing more of the same. I personally think if rhino and Pelham are indeed planning to takeover and transform the business then the only way is up. Good luck all. Set your alarm clocks for tomorrow morning because bound to be crucial news one way or other. Do your own research.

I've been doing some research this morning before I go to the family meal to stuff my greedy christmas belly. Let's look at some of the facts.

1)Pelham (Rhino) was previously non executive director from 2016-2019 during which time he acquired personal investment of 20% of the company at 6p!

2) The company is now trading at 0.20 (30x lower than he had initially thought was a good investment) and is on the back of some positive news (solid cash sheet and forward orders of 4.5m).

3) rhino recently positioned to convert 585m into voting shares. I believe this event is linked with Guido and Bloemens resignation. I believe this is a clear intention for rhino to take more control.

4) i see no logic as to why rhino would be positioning itself just to sell and destroy the company (reisgnation of directors, delisting etc) as it would mean rhino investors losing pretty much all of their investment too. If you previously bought in at 6p then selling at 0.20 when you are effectively all in and there is still some positive outlook seems illogical to me.

5) is it possible rhino see an opportunity to essentially buy the company on the cheap now? Perhaps Pelham sees it as a phenomenal opportunity at 0.20 given he once thought it worth 6p?

7) might we realistically see rhino make a buyout over and take the company private? Perhaps they will offer some low offer of 0.35-0.40 to take over the company on the cheap ? Probably most shareholders would accept this at this point.

8) in any case, all things considered. I don't see how Pelham's clear move to take more control of the company is a negative.

9) what were the situations surrounding Guido and Bloemens sudden resignation ? Were they brought into to do a job and now having done so are amicably setting aside with their personal reward ?

Please do your own research. I am now far more positive than I was after the RNS dropping. Remember it's in no-ones incentive for the company to fail. Thoughts ?

Merry Christmas all😘🎅

I wish I was as confident as you Amystake. The CEO and CFO literally just resigned and share could be suspended and delisted imminently ?

Why are you so confident. I hope you are right. Please reassure me.

Looks like the Guidobus has crashed. However I think there's a few platforms left on the woodbois line before I board the valsenbus!

In Pelham we trust! Toot toot all aboard the rhinobus 🦏!!!

HONK HONK

Serious question. Will shares he suspended when market reopens? As there's now no executive directors not sure they fulfill AIM requirements.

This can either end in total wipeout or the end or a rags to riches takeover.

Is it game over or game on?

Immediate resignation of 2 directors could mean suspension again ?

Unless there is indeed a takeover and new directors installed immediately ?

Why Guido and Bloemens resign so abruptly after recent seemingly positive news ? Any speculation ? Maybe something to do with the abhorrent harassment of directors alluded to in a previous RNS. Perhaps they just thought they can't be bothered with the hassle anymore. Anyone know ?

Seemingly it must be related to the rhino group takeover in some form.

Bottom line is this good or bad for shareholders ?