RNS Number : 0661G

Woodbois Limited

11 November 2022

11(th) November 2022

Woodbois Limited

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

Conversion of 55 million Non-Voting Shares

Woodbois, the African focused sustainable forestry and timber trading company, announces that further to the conversion of Non-Voting Ordinary Shares notified on 21(st) April 2022, 5(th) May 2022, 9(th) May 2022, 26(th) September 2022 and 27(th) October 2022 it has received a request by the same shareholder for the conversion, on a one-to-one basis, of its remaining 55,000,000 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 55,000,000 new Voting Ordinary Shares resulting from the Conversion, which is expected on 16(th) November 2022 ("Admission").

Following Admission, the Company's total number of Ordinary Shares in issue will remain 2,489,988,873 and this will consist of 2,254,988,873 Voting Ordinary Shares and 235,000,000 Non-Voting Ordinary Shares. The aforementioned figure of 2,254,988,873 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.


 Woodbois Limited 
  Paul Dolan - Chief Executive 
  Carnel Geddes - Chief Financial      + 44 (0)20 7099 
  Officer                              1940 
 Canaccord Genuity, Nominated 
  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 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 eighth in its Sustainability Policy Transparency Toolkit ('SPOTT") ESG policy transparency assessments for the worldwide timber and pulp industries for 2022.

Please follow the Company on Twitter: @WoodboisLtd

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(END) Dow Jones Newswires

November 11, 2022 02:00 ET (07:00 GMT)

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