Preference Share Restructure into 4% Convertible

RNS Number : 4422Q

Woodbois Limited

21 October 2019

 

21 October 2019

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.

Woodbois Limited

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

(AIM: WBI)

Preference Share Restructure into 4% Convertible Bond

Woodbois, the African focused forestry and timber trading company, is pleased to provide an update on the announcement of 20^th September of the proposed restructure of the perpetual preference shares in its subsidiary Argento Ltd ("Preference Shares") into a 4% convertible bond 2024 ("Bonds") to be issued by the Company.

The Company has now completed the purchase of the full 75,000 Preference Shares in issue and Neville Registrars Limited, who have been appointed by the Company to act as transfer agent, have been instructed to issue the Bonds.  It is expected that CREST accounts will be credited within 48 hours and paper certificates will be despatched as soon as practicable.

CEO Paul Dolan commented "I'm delighted to report the completion of this transaction, marking another important milestone in the transformation of the Company's capital structure.  The resulting improvement of transparency within the balance sheet ensures that the Company is now much more strongly positioned to take advantage of the many opportunities ahead. "

Woodbois Limited Paul Dolan - CEO Kevin Milne - Interim Chairman www.woodbois.com	[phone]
Arden Partners Plc (Nominated adviser and broker) Tom Price	[phone]

 

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CONLLFLEIRLTLIA