focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
There has not been bad news since the coup in Gabon so we could presume that forestry operations have resumed and money is coming into the company for sales of timber and veneer. At the AGM I would expect a positive view for 2024 now that the new backers are in place. Presumably there will be an update on the carbon credit situation. On that basis I would expect the SP to keep on climbing, with some shareholders taking profits and others taking up those shares sold. The interesting situation is the number of warrants held by the new backers, which is 1200m, and redeemable at 1p. The current number of Ordinary shares is 4289m. Who is an expert in these matters and who can suggest when a warrant holder would exercise their right to redeem at 1p. Clearly the SP could drop 20% if all 1200m warrants were redeemed at the same time and the SP would drop to 0.8p if it was 1p at the time. However, would a warrant holder like to see the SP at 1.5p or above and a positive outcome for the company before giving up their warrants?
For those shareholders hoping that the SP goes above 1.2p to get their long-term expenditure back and get out, this could be an interesting time. But should they be selling at all if the future looks good?
People buying 5p of shares are muppets. People have been making money or losing money on this company for over a year by normal trading but is it the case at the moment that the big gains will be made by those who hold their shares for at least 1 year. The central african states could be subject to Russian or Chinese mal-influence after this time. Is the risk of holding on into 2025 too high?
Sorry
AGM not EGM
RNS re AGM today.
To attend the EGM (on ZOOM or TEAMS presumably) go here and register if not already registered.:-
https://www.investormeetcompany.com/woodbois-limited/register-investor
No.
What a mixed bunch of muppets today. Some buying £3 worth of shares. What is that all about? Someone bed and breakfasting a bunch of shares. Understand that. Others cashing in on an apparent share rise - following other sheep? This is a speculative share which has had a rough passage for over a year but may have weathered the storm. You may make a few bob gambling on ups and downs but the real money is likely to be made if the next RNS shows that the company is making good headway on selling timber now that there are signs of interest rates peaking and inflation coming down. Some mention of progress with carbon credits would be encouraging. I've been a hold for about 9 months and an optimist particularly as the board have shown determination in keeping the company afloat, albeit at a cost to existing investors by adding to the share pool. Patience is a virtue with this one. At the moment it is the market makers who must be rubbing their hands with the number of deals taking place.
Could be some wise punters with money to spare, having seen the share price dropping over the past couple of weeks for no apparent reason.
Who knows? The simple fact is that one year is a long time for a speculative share. You are not going to make your fortune with 20,000 shares unless you are exceptionally lucky and can wait a number of years for all the acreage to grow or be bought for their carbon credit value - unless Gabon is part of a war.
By Xmas 2023 those people with large numbers of shares (or warrants) may see the green shoots of a profitable business emerging and the share price rise enough to cover their losses. They then have to decide whether to sell some or all of their holding.
I have asked the company for the prospective date of the next AGM today.
There was a GM on 16 June 2023 but not an AGM as stated on the tab.
The last formal AGM was in May 2022 as far as I can see. A question to the company seems appropriate in view of the statement in the last RNS.
This ship is off the mudbank - at last
CHATTY IS NEARLY RIGHT
On the internet:-
When does the obligation under to make a general offer to all the shareholders of a company arise?
Rule 9 of the Takeover Code requires a general offer to be made to the holders of any class of equity share capital and also to the holders of any other class of transferable securities carrying voting rights in a company which is subject to the Takeover Code (unless the Takover Panel consents otherwise) when:
Any person acquires an interest in shares which, together with shares in which persons acting in concert with that person are interested, carry 30% or more of the voting rights of the company; or
Any person, together with persons acting in concert with that person, is interested in shares which carry between 30% and 50% of the voting rights of such a company, and such person, or that person’s concert parties, acquires an interest in any other shares which increases the percentage of shares carrying voting rights in which that person is interested.
The important words are "up to"
What is the betting that the Gabon government takes a 34.99% stake, having bought at rock bottom price, then let WBI turn the company into a highly profitable undertaking at which point the Gabon government pull the plug. No fools these people.
Agree. Why did 10m shares get unloaded early this morning after such a positive RNS?
For 2021 and 2022 the results have been announced on a thursday. The results were promised to be announced in September 2023. The last thursday in September is tomorrow so we may get an RNS tomorrow.
It should also tell us more about the company financial situation and progress following the coup. Whether it will we shall see. Any failure to be open and honest will send the shares tumbling. Any positive news will send the shares upwards. Clarity on the carbon credits situation would be helpful. Whilst that is a long-term play any progress would be of interest to anyone proposing to keep these shares long-term.
The last day of September to report is friday so this could be an alternative reporting day.
A financial statement about H1 is due in a few days. See RNS. Whether Q3 comes out in October is unlikely in my opinion.
It amazes me that there are so many piddling little trades today, some under £5. Not one over £1,000. Any explanation for so many wee trades?
Did you notice that Paul Dolan picked up 6m shares when Henry Turcan sold his full holding? Turcan may have lost a chunk unless the shares came free.
Announced Traded Action Notifier Price Currency Amount Holding
29-Jun-23 28-Jun-23 Buy Paul Tiernan Dolan 0.70 GBX 1,000,000 81,400,032
29-Jun-23 28-Jun-23 Buy Paul Tiernan Dolan 0.77 GBX 1,000,000 81,400,032
29-Jun-23 28-Jun-23 Buy Paul Tiernan Dolan 0.72 GBX 4,000,000 81,400,032
03-May-22 29-Apr-22 Sell Henry Turcan 6.00 GBX 10,653,157 -
Also that there has not been a negative RNS since the last RNS which promised to keep us informed if there was.
With the next report due his month and the situation in Gabon calm it would suggest that we should be hearing good news.
"The Gabon coup which was executed on the 30th of August, 2023, has finally gotten a nod of approval from a major financial institution. The African Finance Corporation, a multilateral financial institution, created by African sovereign states, has noted that the coup so far has been peaceful and it has been business as usual in the central African nation".
I'm surprised that there has not been a rush for shares. The next Financial statement should clarify the future.
The latest RNS said this before the coup:-
The Company will be providing a full operational update as part of H1 2023 Interim Accounts which are due to be published in September.