REG - Woodbois Limited - Update on Subscription Options, BGFI Bank & TVR

WoodboisAnnouncement

16/05/2025 14:30

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RNS Number : 0688J  Woodbois Limited  16 May 2025

16 May 2025

 

WOODBOIS LIMITED

("Woodbois" or the "Company")

 

Update on the Subscription Options and BGFI Bank

 

Total voting rights

 

Further to the Company's announcement released at 7.00 a.m. on 28 March 2025,
Woodbois (AIM: WBI), the Africa-focused forestry, timber trading and
afforestation company, provides an update on the Subscription Options which
were granted to Kaiser Investments LLC and Alcazar Investment LLC (the
"Participants").

 

The Company confirms that cleared funds have been received by the
Participants. Therefore, the Company has raised £650,000 through the issue of
1,300,000,000 new ordinary shares of 0.01p each ("Ordinary Shares") at an
issue price of 0.05p per share.

 

The 1,300,000,000 new Ordinary Shares ("Subscription Option Shares") will,
when issued, be credited as fully paid and will rank pari passu in all
respects with each other and with the existing ordinary shares in the capital
of the Company, including, without limitation, the right to receive all
dividends and other distributions declared, made, or paid after the date of
issue. The Participants have agreed not to sell their Subscription Option
Shares for 90 days after Admission.

 

In addition, the Participants have been granted 650,000,000 warrants over new
Ordinary Shares at an exercise price of 0.125p per share (the "Warrants"). The
Warrants are on the same terms as those described in the Company's
announcement released at 7.00 a.m. on 28 March 2025.

 

Admission

 

Application will be made to the London Stock Exchange for the 1,300,000,000
Subscription Option Shares to be admitted to trading on AIM ("Admission"). It
is expected that Admission and the commencement of dealings will take place at
8.00 a.m. on or around 22 May 2025.

 

BGFI Bank ("BGFI")

 

Further to the announcement on 5 February 2025, the Company can confirm that
after discussions with BGFI and a payment of EUR 150,000, BGFI has signed a
repayment agreement for the outstanding amount scheduled of approximately EUR
641,000 from July 2025 to December 2026 without any additional interest fees.

 

Total Voting Rights

 

Following Admission, the Company's issued and full paid share capital will
consist of 12,339,797,530 ordinary shares of 0.01 pence each, which comprises
12,320,659,383 voting ordinary shares and 19,138,147 treasury shares.
Therefore, the total number of voting rights in the Company is 12,320,659,383.

 

 

Enquiries:

 

 Woodbois Limited

 Lucas Kanme, Chief Executive Officer

 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

 Lewis Jones

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

 Mike Staten

 

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