Woodbois Regulatory News (WBI)

25 July 2019

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.

Woodbois Limited

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

(AIM: WBI)

Warrant Amendment

Further to the announcement made on the 10th January 2019, the 1798 Volantis Fund Ltd, a fund managed on a discretionary basis by Lombard Odier Asset Management group, has agreed to vary the redemption terms for their investment under the ITF facility to a redemption date no earlier than 16th July 2020 in exchange for the amendment of the strike price of 40 million warrants from £0.10 to £0.08.

The fund is a substantial shareholder of the Company and so the transaction is classified as a related party transaction under the AIM Rules for Companies. The directors (other than Henry Turcan, who is an employee of Lombard Odier Asset Management and so is precluded from taking part in deliberations), having consulted with Arden Partners, nominated adviser, consider that the terms of the transaction are fair and reasonable insofar as shareholders are concerned.