REG - Woodbois Limited - Response to market speculation

WoodboisAnnouncement

10/03/2023 12:45

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RNS Number : 6181S  Woodbois Limited  10 March 2023

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 which forms part of UK law by virtue of the
European Union (Withdrawal) Act 2018 ("MAR").

 

10 March 2023

 

Woodbois Limited

 

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

 

Response to market speculation

 

The Company notes the recent market speculation that the Company is conducting
an equity fundraising. The Company can confirm it has received a proposal from
an intermediary regarding a proposed equity fundraising of approximately £3
million. The Board has evaluated this proposal and intends to make a final
decision on receipt of legally binding documentation.

There can be no certainty however that this fundraising will proceed. The
Company will provide a further update in due course.

 

Enquiries:

Woodbois Limited  +44 (0)20 7099 1940

Paul Dolan - Chief Executive Officer

Carnel Geddes - Chief Financial Officer

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

Henry Fitzgerald-O'Connor

Harry Pardoe

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.

 

 

 

 

 

 

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