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RNS Number : 5336A Woodbois Limited 26 September 2022
26(th) September 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
21(st) April 2022, 5(th) May 2002 and 9(th) May 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 175,000,000 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 at 8.00 am on 29(th) September 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 2,139,988,873 Voting
Ordinary Shares and 350,000,000 Non-Voting Ordinary Shares. The aforementioned
figure of 2,139,988,873 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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