REG - Woodbois Limited - Conversion of $50,000 of Convertible Bonds

WoodboisAnnouncement

14/06/2022 07:00

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RNS Number : 7223O  Woodbois Limited  14 June 2022

14 June 2022

Woodbois Limited

 

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

 

Conversion of $50,000 of Convertible Bonds

 

Woodbois, the African focused sustainable forestry and timber trading
company, has received a request to convert $50,000 of 2023 0% Convertible
Bonds ("Convertible Bond") into 1,000,000 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 1,000,000 New Ordinary Shares which is expected at 8.00 am on
17(th) June 2022 ("Admission"). Following the Conversion the Company will have
$1,030,611 Convertible Bonds outstanding.

Following Admission, the total number of Ordinary Shares in issue will be
2,483,117,053, comprised of 2,008,117,053 Voting Ordinary Shares and
475,000,000 Non-voting Ordinary Shares. The aforementioned figure of
2,008,117,053 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      + 44 (0)20 7099 1940

 Carnel Geddes - Chief Financial Officer

 Canaccord Genuity, Nominated Advisor      + 44 (0)20 7523 8000

 Henry Fitzgerald-O'Connor

 James Asensio

 Gordon Hamilton

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

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