REG - Woodbois Limited - Termination of Facilities with Nykredit Bank

WoodboisAnnouncement

10/01/2025 08:00

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RNS Number : 8966S  Woodbois Limited  10 January 2025

This announcement is released by the Company and the information contained
within this announcement is deemed by the Company to constitute inside
information for the purposes of Article 7 of the UK version of the EU Market
Abuse Regulation (Regulation (EU) No.596/2014) which forms part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the
publication of this announcement via a Regulatory Information Service, such
information is now considered to be in the public domain. The person
responsible for arranging for the release of this announcement on behalf of
the Company is Paul Shackleton, Non-executive Director.

 

10 January 2025

 

WOODBOIS LIMITED

("Woodbois" or the "Company")

 

Termination of Facilities with Nykredit Bank A/S

The Company has received a letter from Nykredit Bank A/S ("Nykredit" or the
"Bank") which terminates loan facilities to the Company's subsidiary, Woodbois
International ApS, for repayment in full. Woodbois Limited is the guarantor of
this loan and in an accompanying letter to the Company the guarantee is
called. The amounts outstanding are approximately DKK 6.8m (USD 0.61m) and EUR
2.05m (USD 2.11m), and the repayment deadline is 17 January 2025.

The letter from Nykredit explains that the reason for termination is that,
over the past year, discussions and dialogue for the purpose of reaching an
amicable agreement to settle the Company's debt to Nykredit has regrettably
failed to reach such an agreement.

The letter invites the Company to discuss a settlement agreement with the
Bank.

The Directors believe that a settlement agreement is in both parties'
interest, and together with advisers, will seek to achieve this as soon as
possible. A further announcement will be made in due course.

 

Enquiries:

 

 Woodbois Limited                                      Via Allenby Capital

 Clive Roberts,  Independent Non-executive Director

 Paul Shackleton, Independent Non-executive Director

 Allenby Capital Limited (Nominated Adviser)           +44 (0)20 3328 5656 info@allenbycapital.com

 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

 Ben Tadd, Lewis Jones

 

 

 

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