Last checked at 16 Jun 2022 07:00
16 June 2022
Woodbois Limited
("Woodbois", the "Group" or the "Company")
Conversion of $243,591 of Convertible Bonds
Woodbois, the African focused sustainable forestry and timber trading company, has received a request to convert $243,591 of 2023 0% Convertible Bonds ("Convertible Bond") into 4,871,820 Voting Ordinary Shares ("New Ordinary Shares"). The Convertible Bond terms specify conversion is at an exchange rate of £:$1.25 and 4p per Ordinary Share (the "Conversion") .
Application has been made to the London Stock Exchange for the admission to trading of the 4,871,820 New Ordinary Shares which is expected at 8.00 am on 21 June 2022 ("Admission"). Following the Conversion the Company will have $787,020 Convertible Bonds outstanding.
Following Admission, the total number of Ordinary Shares in issue will be 2,487,988,873, comprised of 2,012,988,873 Voting Ordinary Shares and 475,000,000 Non-voting Ordinary Shares. The aforementioned figure of 2,012,988,873 Voting Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Enquiries:
Woodbois Limited Paul Dolan - Chief Executive Officer Carnel Geddes - Chief Financial Officer
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+ 44 (0)20 7099 1940
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Canaccord Genuity, Nominated Advisor Henry Fitzgerald-O'Connor James Asensio Gordon Hamilton
| + 44 (0)20 7523 8000 |
Background on Woodbois
Woodbois Limited (AIM:WBI) is an African-focused forestry company, divided into three distinct, but highly complementary divisions comprising the production and supply of sustainable African hardwood products, the trading of hardwood and hardwood products, and a reforestation and carbon credit division.
Woodbois' forestry division has production facilities in Gabon and Mozambique, managing a total of c470,000 hectares of natural forest concessions. The trading division comprises a highly experienced team of timber specialists, who source and supply sustainable timber to a global customer base. Its proprietary technology developed in house, captures, stores and presents data, providing a matching engine to build scale and optimise trading opportunities with its global customer base.
The Company's carbon sequestration and trading division was formed in March 2021 and aims to generate voluntary carbon credits for corporate partners through the delivery of large-scale reforestation projects.
The Company's focus on the transparency and sustainability of its timber operations has been recognised by The Zoological Society of London, which ranked Woodbois joint sixth in its Sustainability Policy Transparency Toolkit ('SPOTT'') ESG policy transparency assessments for the worldwide timber and pulp industries for 2021.
Please follow the Company on Twitter: @WoodboisLtd