Last checked at 27 Oct 2022 17:15
27th October 2022
Woodbois Limited
("Woodbois", the "Group" or the "Company")
Conversion of 60 million Non-Voting Shares
Woodbois, the African focused sustainable forestry and timber trading company, further to the conversion of Non-Voting Ordinary Shares notified on 21st April 2022, 5th May 2022, 9th May 2022 and 26th September 2022, has received a request by the same shareholder for the conversion, on a one-to-one basis, of a further 60,000,000 of its remaining 115,000,000 Non-Voting Ordinary Shares into Voting Ordinary Shares in the Company (the "Conversion"). The Conversion will be effective on Admission (as defined below).
Application has been made to the London Stock Exchange for the admission to trading of the 60,000,000 new Voting Ordinary Shares resulting from the Conversion, which is expected on 1st November 2022 ("Admission").
Following Admission, the Company's total number of Ordinary Shares in issue will remain 2,489,988,873 and this will consist of 2,199,988,873 Voting Ordinary Shares and 290,000,000 Non-Voting Ordinary Shares. The aforementioned figure of 2,199,988,873 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 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 eighth in its Sustainability Policy Transparency Toolkit ('SPOTT'') ESG policy transparency assessments for the worldwide timber and pulp industries for 2022.
Please follow the Company on Twitter: @WoodboisLtd