REG - Woodbois Limited - Conversion of 55 million Non-Voting Shares

WoodboisAnnouncement

11/11/2022 08:15

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RNS Number : 0661G  Woodbois Limited  11 November 2022

11(th) November 2022

Woodbois Limited

 

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

 

Conversion of 55 million Non-Voting Shares

 

Woodbois, the African focused sustainable forestry and timber trading
company, announces that further to the conversion of Non-Voting Ordinary
Shares notified on 21(st) April 2022, 5(th) May 2022, 9(th) May 2022, 26(th)
September 2022 and 27(th) October 2022 it has received a request by the same
shareholder for the conversion, on a one-to-one basis, of its remaining
55,000,000 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 55,000,000 new Voting Ordinary Shares resulting from the
Conversion, which is expected on 16(th) 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 2,254,988,873 Voting
Ordinary Shares and 235,000,000 Non-Voting Ordinary Shares. The aforementioned
figure of 2,254,988,873 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      + 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 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

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