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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Woodbois Limited | WBI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.0025 | 2.00% | 0.1275 | 15:44:43 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.125 | 0.125 | 0.1275 | 0.1275 | 0.125 |
| Industry Sector |
|---|
| FORESTRY & PAPER |
| Top Posts |
|---|
Posted at 24/12/2024 17:35 by odillon As I understand it the Rhino shares have not been converted to voting shares yet.This was proposed to be taking place on the 27th of December. Provisions relating to the modification of the rights attached to shares are contained in paragraph 7 of the company's articles of association. Reading the provisions would seem to suggest that conversion of the class of shares is not something that can be done automatically, but requires ratification. If the proposals were potentially setting up a void conversion, then perhaps it is the case that the Nomad stepped in to protect existing voting shareholders? Possibly it is the case that arrangements for the appointment of new executive directors are in hand? There is a post about being a holder of WBI I enjoyed on the LSE site; "I haven't sold a share of £24,000 spent and if I lose it all it's far better than watching EastEnders and less shouting." |
Posted at 24/12/2024 17:00 by kinwah I think Rhino converted the non-voting shares so they could sell them. The only directors left are the two Allenby appointees. Allenby must be regretting taking on WBI as a client. Allenby can't allow a potentially false market in the shares so will ask for a suspension on Friday morning so they can try and find out what is happening. There doesn't seem to be a date for the AGM, WBI is entering the difficult rainy season, cash will be extremely tight and there are no executive directors. This may be the final chapter for WBI. |
Posted at 24/12/2024 14:51 by kinwah If I had to guess, I'd say the Company can no longer meet its liabilities as they fall due. It didn't seem to raise enough money when it relisted. I would expect WBI to be suspended on Friday morning pending clarification of the company's financial position. |
Posted at 24/12/2024 13:36 by odillon Thanks Burton and Nicos. It is good to see WBI listed by Total Market Solutions as one of their 10 for 2025. |
Posted at 12/11/2024 00:11 by odillon It is good to see the company trading again on AIM and with a new NOMAD in place.There will have been some scooping further the pooping going on during the first day back trading and in the near future.(The poop and scoop is the practice of bashing a share in the hope of encouraging others to sell so that it can be picked up at a low price). This share has previously been affected by the pump and dump and more recently the poop and scoop. (New faces appearing on WBI boards, including this one, who have never taken any interest in WBI before and are suddenly spending their one life making scathing remarks about it). Owning this share has been a bumpy ride in the last few years. (I hope to get a part in "Woodbois the movie" when it comes out). Here's hoping for a period of calm and steady growth. |
Posted at 14/10/2024 11:51 by odillon Sorry JK you were referring to the NOMAD resignation not the director's.What you suggest is a possible scenario. But I remain open-minded. If there was a serious breach of AIM rules by WBI why have Canacoord not said what it is or at least that there has been such a breach and why were WBI looking for a new NOMAD before they resigned? |
Posted at 14/10/2024 10:10 by odillon The shares are suspended and so nothing posted on forums can affect the price. We are waiting to see what happens next.We do not know what has happened. No reason has been given for Canacoord resigning. Some have assumed that there has been fault on the part of WBI. I have merely conjectured that there may be other reasons for the NOMAD resignation other than WBI being at fault, such as a conflict of interest having arisen or a planned change of NOMAD. There is no desperation in my posts. I am simply remaining open-minded. As the shares are suspended there is nothing to be gained from any attempt to "distract attention". But there is venom and unpleasantness in the responses from Fenners66. Is this a 54 years of hurt phenomenon? The first thing I checked today was to see if the other two brokers had resigned. As far as I can see they have not. |
Posted at 12/10/2024 23:37 by fenners66 JakNife as I said in post 1347 , Odillion seemed to be desperate to distract attention from WBI suggesting that the Nomad would resign with immediate effect just because they thought they would be replaced in the future.Why would anyone who may have shares in WBI want to suggest that ? Shares suspended , director removed with immediate effect , loses money , had its bank effectively resign previously why would anyone even dream of gambling their hard earned here , let alone try to defend the company and blame the nomad ? |
Posted at 12/10/2024 11:01 by odillon I think it is you that is suggesting that the NOMAD is not to be trusted. I have not said that, you have raised this.If the resignation stems from a conflict of interest they cannot represent WBI. So they would be doing the right thing by resigning. Why are you interpreting that to mean that the NOMAD cannot be trusted? If they believe that WBI have fallen foul of AIM's regulations and they are unable to assist WBI to address this, then again they have done the right thing by resigning. But that does not appear to be consistent with WBI being in the process of appointing a new NOMAD. That is what makes me think that it may be something other than a breach of AIM rules. The RNS makes it clear that WBI knew that Canacoord were going to resign. WBI were therefore on notice of the resignation. So the advisors say they are going to resign and then they do. How is that being untrustworthy? WBI know they are going to resign (and presumably know why) and are in the process of appointing a new NOMAD. As they were on notice they had a head start on the usual time period for appointing an alternative adviser. Looking through other examples of where a NOMAD has resigned there is generally a clear reason given in the RNS, which generally appears to be that a company has filed to go into administration. There is no indication of this with WBI. Also, in other examples, when the NOMAD resigns so do all company brokers. Canaccord have resigned both as advisors and brokers, but, as matters stand, the other two brokers have not resigned. We do not know what has happened to cause Canaccord to resign. At this stage I am not attributing blame to either the company or the NOMAD. Can you say the same? |
Posted at 11/10/2024 22:42 by odillon If it is a conflict of interest they would have no choice and if WBI were jumping horses it may not be unreasonable.We are told that the WBI director resigned, but if you check the articles of incorporation the provision cited is the one where the resignation is triggered by the written requirement of the other directors. So it is a forced resignation. We have no idea why Canaccord resigned. But if it was as a consequence of wrongdoing by WBI - why have Canaccord not said this? We are told that WBI are in the process appointing new advisers. How could they be doing so if there was an AIM's Rules impediment to their seeking new representation? btw - mind your language. You can disagree without disrespect. |
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