Conversion of Non-Voting Shares

RNS Number : 6937K

Woodbois Limited

09 May 2022

 

9 May 2022

Woodbois Limited

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

Conversion of 60 million Non-Voting Shares

Woodbois, the African focused sustainable forestry and timber trading company, further to the conversion of Non-Voting Ordinary Shares notified on 21^st April and 4^th May 2022, has received a request by the same shareholder for the conversion, on a one-to-one basis, of a further 60,000,000 of its remaining 235,000,000 Non-Voting Ordinary Shares into Voting Ordinary Shares in the Company (the "Conversion"). The Conversion will be effective on Admission (as defined below).

Application has been made to the London Stock Exchange for the admission to trading of the 60,000,000 new Voting Ordinary Shares resulting from the Conversion, which is expected at 8.00 am on 12 May 2022 ("Admission").

Following Admission, the Company's total number of Ordinary Shares in issue will remain 2,482,117,053 and this will consist of 2,007,117,053 Voting Ordinary Shares and 475,000,000 Non-Voting Ordinary Shares. The aforementioned figure of 2,007,117,053 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.

Enquiries:

Woodbois Limited Paul Dolan - Chief Executive Officer Carnel Geddes - Chief Financial Officer	+ 44 (0)20 7099 1940
Canaccord Genuity, Nominated Advisor Henry Fitzgerald-O'Connor James Asensio Gordon Hamilton	+ 44 (0)20 7523 8000

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.

Please follow the Company on Twitter: @WoodboisLtd

 

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