Woodbois Limited Conversion of $243,591 of Convertible Bonds (0600P)
16 Juin 2022 - 08:00AM
UK Regulatory
TIDMWBI
RNS Number : 0600P
Woodbois Limited
16 June 2022
16 June 2022
Woodbois Limited
("Woodbois", the "Group" or the "Company")
Conversion of $243,591 of Convertible Bonds
Woodbois, the African focused sustainable forestry and timber
trading company, has received a request to convert $243,591 of 2023
0% Convertible Bonds ("Convertible Bond") into 4,871,820 Voting
Ordinary Shares ("New Ordinary Shares"). The Convertible Bond terms
specify conversion is at an exchange rate of GBP:$1.25 and 4p per
Ordinary Share (the "Conversion") .
Application has been made to the London Stock Exchange for the
admission to trading of the 4,871,820 New Ordinary Shares which is
expected at 8.00 am on 21 June 2022 ("Admission"). Following the
Conversion the Company will have $787,020 Convertible Bonds
outstanding.
Following Admission, the total number of Ordinary Shares in
issue will be 2,487,988,873, comprised of 2,012,988,873 Voting
Ordinary Shares and 475,000,000 Non-voting Ordinary Shares. The
aforementioned figure of 2,012,988,873 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 + 44 (0)20 7099
Officer 1940
Canaccord Genuity, Nominated
Advisor
Henry Fitzgerald-O'Connor
James Asensio + 44 (0)20 7523
Gordon Hamilton 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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END
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