REG - Woodbois Limited - Update on Fundraising with AXIS &Corporate Matters

WoodboisAnnouncement

18/10/2024 16:15

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RNS Number : 8313I  Woodbois Limited  18 October 2024

 

18(th) October 2024

Woodbois Limited

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

Update on Fundraising with AXIS and Corporate Matters

 

Woodbois Limited ("Woodbois" or the "Company") provides the following update
following its previous announcement regarding the fundraising conducted in
partnership with AXIS.

 

As a result of the recent suspension of the Company's shares from trading on
AIM, AXIS has consulted its investors to assess their continued commitment to
the investment round. Following these consultations, a number of investors
expressed confidence that the situation would be resolved and that trading
would resume, while others adopted a more cautious approach, either postponing
their investments or reducing the amounts they initially intended to invest.

 

Despite this, the Company is pleased to confirm that it has successfully
raised £484,400 (before expenses) through the issuance of 173,000,000 new
ordinary shares at a price of 0.28p per share. Woodbois extends its sincere
gratitude to all participating investors for their continued trust in the
Company during this period of transition.

 

Following the issuance of these voting ordinary shares, the Company's total
share issued capital will be 4,722,988,873 ordinary shares, which will consist
of 4,118,856,726 voting ordinary shares, 19,138,147 treasury shares and
585,000,000 non-voting ordinary shares. The aforementioned figure of 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.

 

The number of total shares and voting will change as the issue was lower than
the planned approx 360million.

 

Furthermore, Woodbois is in advanced discussions with a new Nominated Adviser
("NOMAD") and is actively working to appoint Independent Non-Executive
Directors to its Board of Directors. These appointments will further enhance
the Company's governance framework.

 

We will continue to keep shareholders updated as we progress with these
important steps towards stabilizing and strengthening the Company.

 

For further information, please contact:

 

 Woodbois Limited

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

 Johannes Bloemen, CFO

 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

 

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.

 

 

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