REG - Woodbois Limited - Gabon Wood Sector Operational Update

WoodboisAnnouncement

18/09/2024 17:15

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RNS Number : 7580E  Woodbois Limited  18 September 2024

 

18th September 2024

Woodbois Limited

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

 

Gabon Wood Sector Operational Update

 

Woodbois would like to provide an update on our current operational status in
Gabon amidst ongoing developments in the wood sector. The industry is
currently navigating a period of unrest, with various companies facing
challenges on the working floor related to labor negotiations and political
uncertainty, particularly in the lead-up to the upcoming elections.

 

In light of entering the short rainy season, we are carefully managing
operations to prioritize both safety and productivity. This includes temporary
halts to certain activities, such as forest operations, when road conditions
deteriorate and affect operational efficiency. Additionally, when our
warehouses reach full capacity, we make a conscious decision to halt
production to avoid the storage of dried wood outdoors in adverse weather
conditions.

 

Given this set of circumstances, Woodbois has experienced incidences of
disruption in its labour force but remains well-prepared for any further
instability. We maintain an ample stock of materials and have containers, as
planned, ready for shipment at the port, as well as containers already on
route to international markets. These measures ensure that our revenue streams
remain intact, even as we continue to adapt to evolving conditions.

 

Our approach allows for flexibility, as numerous stages of our operations-from
cutting wood to shipping containers-can be paused or resumed as dictated by
economic and logistical factors. We remain committed to maintaining high
standards of safety and quality across all stages of our supply chain,
ensuring minimal disruption to our global customers. We will continue to
closely monitor the situation and provide updates as necessary.

 

We plan to  release our interim results for the six months to 30 June 2024
over the coming days, which will include any further updates as necessary.

 

 

Enquiries:

 

 Woodbois Limited

 Guido Theuns, Executive Chair & CEO                + 44 (0)20 7099 1940

 Johannes Bloemen, CFO

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

 Henry Fitzgerald-O'Connor

 Harry Pardoe

 Novum Securities (Joint Broker)                    +44 (0) 20 7399 9427

 Colin Rowbury, Jon Bellis

 Axis Capital Markets Limited (Joint Broker)        +44 (0) 203 026 0449

 Ben Tadd, Lewis Jones

 

About Woodbois:

Woodbois 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, it strives to set industry
standards and exceed expectations. Please follow the Company on X:
@WoodboisLtd

 

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