REG - Woodbois Limited - Update re directorate

WoodboisAnnouncement

06/01/2025 10:01

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RNS Number : 2544S  Woodbois Limited  06 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.

 

6 January 2025

 

WOODBOIS LIMITED

("Woodbois" or the "Company")

 

Update re directorate

 

On 24 December 2024, the Company announced the resignation of the executive
directors. The board now comprises two Independent Non-executive Directors
("INEDs"). A handover process has begun.

 

The INEDs are directly in touch with key members of the management team in
Africa. Woodbois' business involves clients in emerging markets, international
logistics and operations in Gabon. Following discussions with the Company's
advisers, and representatives of certain Significant Shareholders of the
Company, we expect shortly to appoint a management company to provide an
immediate solution to support the team in Gabon with internal logistics,
shipping and international sales. In parallel, replacing the executive
directors with lasting appointments that ensure the long term success of the
Company, is the priority. A further announcement will be made as appropriate.

 

The focus of the business continues to be to restart production which has been
delayed due to, inter alia, the congestion in our internal logistics chain.
Further to the Company's announcement of 9 December, during December 2024, 5
containers were shipped from the port of Libreville. It remains our target to
achieve production of up to 50 containers per month which we are aiming to
achieve by late spring.

 

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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