REG - Woodbois Limited - Resignation of Director

WoodboisAnnouncement

14/05/2025 17:30

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RNS Number : 7163I  Woodbois Limited  14 May 2025

14 May 2025

 

WOODBOIS LIMITED

("Woodbois" or the "Company")

Resignation of Director

Woodbois Limited (AIM:WBI), the Africa-focused forestry, timber trading and
afforestation company, announces that Paul Shackleton is stepping down as
non-executive director of the Company with immediate effect by mutual
agreement with the board of the Company (the "Board").

The Board would like to thank Paul for his hard work and determination over
the past few months as a result of which the Company avoided significant
jeopardy.

Issue of shares and related party transaction

The payment due to be made to Paul Shackleton announced on 28 March 2025 for
the substantial additional work undertaken by him will now be satisfied by a
payment of £25,000 in cash and the issue of 56,818,181 new ordinary shares of
0.01p each ("Ordinary Shares") to him. Accordingly, application has been made
for an aggregate of 56,818,181 new Ordinary Shares, to be admitted to trading
on AIM ("Admission") and it is expected that Admission, and the commencement
of dealings in these new Ordinary Shares, will take place at 8.00 a.m. on or
around 20 May 2025.

As Paul Shackleton is a related party pursuant to the AIM Rules for Companies,
the variation to the previous payment due to be made to him constitutes a
related party transaction for the purposes of Rule 13 of the AIM Rules for
Companies. Accordingly, the independent Directors (being Clive Roberts, Lucas
Kanme and Cobus van der Merwe) consider, having consulted with the Company's
Nominated Adviser, Allenby Capital Limited, that the terms of the variation to
the previous payment are fair and reasonable insofar as the Company's
shareholders are concerned.

The FCA notification, made in accordance with the requirements of the UK
Market Abuse Regulation, is appended further below.

Total Voting Rights

Following Admission, the Company's issued and fully paid share capital will
consist of 11,039,797,530 Ordinary Shares, with one voting right per ordinary
share. The Company holds 19,138,147 Ordinary Shares in treasury, therefore the
total number of voting rights in the Company is 11,020,659,383.

This figure may be used by Shareholders 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 FCA's
Disclosure Guidance and Transparency Rules.

 

For further information, please contact:

 

 Woodbois Limited

 Lucas Kanme, Chief Executive Officer

 Allenby Capital Limited (Nominated Adviser)   +44 (0)20 3328 5656

 John Depasquale, Piers Shimwell

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

 Colin Rowbury, Jon Bellis

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

 Lewis Jones

 Hobart Capital Markets LLP                    +44 (0) 207 0-.070 5600

 Mike Staten

 

Website: www.woodbois.com

About Woodbois Limited

Woodbois Limited is a vertically integrated forestry company, focused on the
production, processing, and trading of sustainable timber and related
products.

 

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them.

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                            Paul Shackleton
 2.  Reason for the Notification
 a)  Position/status                 Non-Executive Director
 b)  Initial notification/Amendment  Initial Notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                            Woodbois Ltd
 b)  LEI                             2138001U7SLCSRKV3P06
 4.  Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the Financial instrument, type of instrument     Ordinary Shares of 0.01 pence each
                                     Identification code                                                 G
                                                                                                         G
                                                                                                         0
                                                                                                         0
                                                                                                         B
                                                                                                         4
                                                                                                         W
                                                                                                         J
                                                                                                         S
                                                                                                         D
                                                                                                         1
                                                                                                         7
 b)  Nature of the transaction       Issue of Ordinary Shares in lieu of fees
 c)  Price(s) and volume(s)          Price(s)               Volume(s)
                                      0.044 pence per share  56,818,181
 d)  Aggregated information:         n/a

     -Aggregated volume

     -Price
 e)  Date of the transaction         14 May 2025
 f)  Place of the transaction        Outside of a trading venue

d)

Aggregated information:

-Aggregated volume

-Price

n/a

e)

Date of the transaction

14 May 2025

f)

Place of the transaction

Outside of a trading venue

 

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