Woodbois Regulatory News (WBI)

12 January 2024

Woodbois Limited

("Woodbois", "the Group" or "the Company")

Issuance of Shares & Warrants

Woodbois Ltd (AIM: WBI), a leading company in the international timber industry, today announces that, under authorities granted at its AGM on 29 December 2023, and elections subsequently received from the beneficiary, it is issuing deferred consideration as set out in the Financing Package detailed in the RNS dated 28 June 2023.

Under the Commission Agreement, the Company has received an election to issue 60,000,000 new Voting Ordinary Shares to the beneficiary. Application has been made to the London Stock Exchange for these Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on or before 8.00 a.m. on 17 January 2024.

The Company has also received an election to issue 60,000,000 warrants convertible into Voting Ordinary Shares, and 350,000,000 warrants convertible into Non Voting Ordinary Shares, each exercisable at 1p per share until 29 June 2025.

Total Voting Rights

Following Admission, the Company's total number of Ordinary Shares in issue will become 4,349,988,873, which will consist of 3,745,850,726 Voting Ordinary Shares, 19,138,147 Treasury Shares and 585,000,000 Non-Voting Ordinary Shares. The aforementioned figure of 3,745,850,726 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.

Warrants

Following the above, there are a total of 1,260,000,000 warrants to subscribe for Voting Ordinary Shares and 350,000,000 warrants to subscribe for Non-Voting Ordinary Shares, each exercisable at a price of 1p per share until 29 June 2025.

Unless otherwise stated, all defined terms in this announcement will have the same meaning as that provided in the RNS dated 28 June 2023, which also contains further background.

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About Woodbois Ltd: Woodbois Ltd is a Guernsey-based company at the forefront of the timber industry, committed to delivering quality products and sustainable solutions. With a legacy of innovation and a vision for the future, Woodbois Ltd strives to set industry standards and exceed expectations.