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Completely agree with you ObiWan14. My limited understanding is that the company is issuing 60,000,000 Ordinary Voting Shares that will go to Rhino Ventures Limited (Miles Pelham) as a commission fee for the 2023 subscription. This has already been announced subject to it passing a Company General Meeting as has the warrants.
Good Luck All. ππΏππΏππΏ
Beg to differ else no company would require a Chairman and a CEO would not be accountable.
Dear Sam,
For all our sakes, I sincerely hope your sentiments come to fruitation. ππΏππΏππΏ
Lewis66 I am with you. How I view this is a CEO has been replaced by a Non Executive Director so one less employee. The previous Chairman stood back because he couldn't dedicate enough time to the role. But now we have his replacement also as CEO. How can he possibly dedicate enough time to both roles without consideration for the upheaval of repositioning Woodbois? I truly believe Woodbois is going to be split in two separate companies and the shareholders will be positioned in a take it or leave it to the negative company.
I have never been negative towards Woodbois till now despite everything and I was hoping to invest a further Β£12,500 in April BUT how can anyone be positive about Woodbois now after less than two weeks from an AGM (that was always badly timed in my thoughts) the CEO has either resigned or I would say more accurately pushed out?
Who knows what's going on but nobody can say so shortly after an AGM a CEO has gone is consistent with the Woodbois presentation.
I for one am holding my shares, with the recent drop maybe I will be able to achieve more shares for my Β£12,500 gamble in April that I still intend to do but it will be a BLOODY GAMBLE IN THIS FRUSTRATING COMPANY.
I WISH EVERY INVESTOR WELL WITH THEIR DECISIONS TO HOLD, SELL OR BUY WOODBOIS SHARES... ππΏππΏππΏ
Hopefully trading will get back to normal at the start of next week and we will see an improvement in the share price then.
I still think it was a very strange time for an AGM but thought the statements made were all very positive.
However the Q&A session really did contain one of the strangest questions asking when Woodbois will start paying dividends.
Crazy, absolutely crazy a business that very nearly collapsed being expected to pay dividends in a very short space of time.
We are years, more decades from ever receiving dividends and if any investor is in Woodbois for such I sincerely think you should invest elsewhere.
Just before Sydbank requested their money back Paul Dolan was suggesting that Woodbois would become a dividend payer although not giving a timescale. I do wonder if that sentiment affected Sydbanks decision.
Anyway, Happy New Year to all and let's continue this journey...
Now for my summary.
When the financial package was announced on 28/06/23 not only was I relieved that Woodbois would survive as a going concern but I was very excited with regards to the warrants. Previous shares had been purchased at a price of 0.5p per share but the warrants was priced at 1p per share. I can understand that investors would be worried about being diluted yet again but my theory was (hopefully still is) that the investors will only execute this option when the share price is over 1p, there was no condition that I understood the investors had to invest further so therefore to me it was a guarantee that the share price will exceed 1p. In hindsight I can't believe nearly six months on we still have not received this 1p. Furthermore, even with further dilution why would investors exercise their rights for warrants if the share price was not to increase even if at a minimum of say 1.5p. My understanding was the monies raised from the warrants will go back into the company and although current shareholders would be diluted again they will also be rewarded with a far healthier Woodbois balance sheet. But now, looking back I am not so sure, Woodbois announced on 28/06/23 the financing package will provide the company with sufficient working capital for at least the next twelve months. Maybe I should have read this in further detail because I thought that was just the Β£6,000,000 raised at the time which didn't include the warrants. Reading that again the twelve months includes the warrants and if that is so the balance sheet won't be looking that great will it?
With regards to the recent share price increase could this be because Woodbois are purchasing shares to pay Miles Pelham in 60,000,000 New Voting Ordinary Shares instead of being paid in cash as announced on 28/06/23? After all his six month term of being a Strategic Advisor is coming to an end.
I still believe there maybe value in Woodbois for now because the share price is still quite close to historic lows even with the recent surge. I won't be selling any yet, I really hope the AGM will bring good news and positivity but even the timing of the AGM brings questions I don't wish to ask. Why would a company, especially one so small as Woodbois choose to hold an AGM between Christmas and New Year? I sincerely hope I'm wrong and Woodbois announcement of reviewing its activities and strategy goes well with the markets. Maybe we will have an update on the warrant situation but to be fair the timing of any announcement will be put a major share price adjustment till at least the middle of January.
I am a novice investor but these are my thoughts, I hope they are helpful...
28/06/23
Woodbois announced 1,200,000,000 new voting shares was issued. 800,000,000 by CHCH Ventures on behalf of Hugh Wade-Jones who will hold 21.7% of voting shares and 400,000,000 by John Scott who will hold 10.85% of voting shares.
This issue raised Β£6,000,000. Β£4,000,000 from CHCH Ventures and Β£2,000,000 from John Scott.
Miles Pelham will be a Strategic Advisor to The Company for a six month term.
RVL(Miles Pelham) can elect to receive 60,000,000 New Voting Ordinary Shares or be paid in cash (presumably 60,000,000 Γ 0.5p) Β£300,000.
Paul Dolan will stand down as CEO once a suitable replacement is found. It is intended Paul will be a Non Independent Non Executive Director and will be responsible for the initial phase of the afforestation project in Gabon within the company's carbon division.
A further 1,200,000,000 shares could be issued as warrants. 800,000,000 of these reserved for CHCH Ventures and 400,000,000 reserved for John Scott. These warrants can be exercised until 29th June 2025.
RVL will also be issued 350,000,000 warrants in Non Voting Ordinary Shares. RVL can also elect to receive 60,000,000 warrants.
The Directors believe the financing package will provide the company with sufficient working capital for at least the next twelve months.
29/09/23 Q3 Update And Board Changes
David Rothschild announced as CEO.
Trading Finance Facility talks in the final stages of due diligence and are expected to close in the near future.
22/11/23
AGM announced for Wednesday 29th December 2023.
04/12/23
Woodbois announces the appointment of Guido Theuns as Independent Non Executive Director.
Chair Graeme Thomson states Woodbois is at a key moment reviewing its activities and Strategy.
Dear User-Name.
I own 723,016 Woodbois shares in a SIPP at an average of 2.1225p per share.
Also, 659,968 Woodbois shares in a GIA at an average of 1.0274p per share.
Overall 1,382,984 Woodbois shares at an average of 1.6013p per share.
The shares I own in my GIA wasn't supposed to be held for long but I purchased them just before Sydbank withdrew their loan facility. I held my nerve through very turbulent times purchasing further shares along the way to bring my average down.
I don't wish to touch the shares in my SIPP for many years and if I find more confidence in Woodbois I shall top up to own 1,000,000.
In total I have invested Β£22,146.96 in Woodbois and according to Google tonight those shares are worth Β£13,015.26 so even after this weeks dramatic rise I am still at a Β£9,131.70 loss.
I will try to summarise my understanding in my forthcoming post but must state I am a total novice investor that perhaps the above will confirm!!! He he
Dear GlenM
Actually I think your post is weird!!!
How can you actually say that previous incorrect comments made about Woodbois are from prophets and not doomsters?
Why do you gloat on someone who is currently financially down but believes they will receive their rewards for staying loyal to Woodbois?
Finally, your suggesting you hold all the reality to where Woodbois and its share price will go into the short and long term future. As you have made such a bold statement within a forum can you please elaborate?
Chattty
I think it is time you explain yourself.
Who has exactly pocketed proceeds from sales?
If you don't have proof of this slander then (and I refuse to say please) Chattty Off from this forum...
Matthew1978.
Pleased your still here because from your previous posts your in a similar position to me.
I am a total rookie/ novice investor and like you I look to posts for hopeful knowledge for any factual update.
What I have learned from my experience reading the posts on Woodbois is that the posters really think they can influence the share price by either posting positive or negative comments.
Everyone is entitled to their opinion but should always post on facts..
My understanding is that there is no deadline for the end of May. Posters can argue this and if they are corrrecr or wrong we will know this time next week.
Dear Chattty
The only truth in your statement at 21:59 is the $3.1 Million cash seized by Sydbank.
Please provide information that Sydbank is asking for the remaining $2.9 Million in cash by the end of May.
Who has ever suggested that Sydbank would lose $6.0 Million when you have already stated Sydbank hold $3.1 Million in cash?
According to the RNS provided by Woodbois there is no requirement to settle the outstanding balance by the end of May 2023. Sydbank is prepared to work with Woodbois till at least the end of May 2023.
You could be correct but your talking very worst scenario.
I wish to comment positively as an investor in Woodbois and from factual information provided not speculation whether my beliefs are right or wrong...
I wish all investors profit...
If we read the Facility with Sydbank RNS correctly it reports Sydbank has verbally indicated that they would be open to working with the Company to at least the end of May to allow the development of a plan to refinance the balance.
At least the end of May will hopefully allow us more time if Woodbois fails to refinance a loan in thr next thirteen days