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WBI Woodbois Limited

0.66
-0.01 (-1.49%)
18 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Woodbois Limited LSE:WBI London Ordinary Share GG00B4WJSD17 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.01 -1.49% 0.66 0.64 0.68 0.67 0.66 0.67 23,405,958 15:54:59
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Chem,fertlizer Minrl Mng,nec 23.11M -111.19M -0.0302 -0.22 24.33M

Woodbois Limited £2.0m Exercise of Warrants to scale-up production

08/02/2024 7:05am

RNS Regulatory News


RNS Number : 4689C
Woodbois Limited
08 February 2024
 

8 February 2024

Woodbois Limited

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

 

£2.0m Exercise of Warrants at 1p per Share

to scale-up production and realise efficiencies

and Issuance of new Warrants

 

Woodbois Limited (AIM: WBI), a leading company in the international timber industry, is pleased to announce the exercise of 200 million warrants at 1p per share, generating £2.0 million for the Company. The proceeds of the warrant exercise will be used to scale up production and help realise efficiencies.

Conversion of 1p Warrants adds £2.0m to Cash Resources

The Company has received notice of conversion of 200 million warrants at 1p per share, a premium of 41% to the closing share price yesterday. As a result, the Company will issue 200 million new ordinary shares of 1p each ("New Ordinary Shares"). Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective at 8.00 a.m. on or around 13 February 2024. The Company will also be issuing 200 million 2-year warrants, exercisable at 1.5p per Company voting ordinary share.  

Total Voting Rights and Warrants in Issue

Following Admission, the Company's total share issued capital will be 4,549,988,873 ordinary shares, which will consist of 3,945,850,726 voting ordinary shares, 19,138,147 treasury shares and 585,000,000 non-voting ordinary shares. The aforementioned figure of 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.

Following the conversion, there will be a total of 1,060,000,000 warrants for voting ordinary shares and 350,000,000 warrants for non-voting ordinary shares in issue, all exercisable at 1p per ordinary share until 29 June 2025, and 200,000,000 warrants over voting ordinary shares exercisable at 1.5p per ordinary share until 13 February 2026.

Guido Theuns, Executive Chair & CEO, said: "The conversion of warrants at a premium of 41% to the current share price adds £2.0m to our cash resources and shows great external belief in the future prospects of the Company. It allows us to continue the drive to profitability through enhancing production volumes and quality, whilst also further streamlining our costs and progressing the important carbon credit business plan."

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 which forms part of UK law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").

 

 

Enquiries:

 

Woodbois Limited

Guido Theuns, Executive Chair & CEO

Carnel Geddes, CFO

 

+ 44 (0)20 7099 1940

 


Canaccord Genuity (Nominated Advisor and Broker)

Henry Fitzgerald-O'Connor

Harry Pardoe

+ 44 (0)20 7523 8000

 


Novum Securities (Joint Broker)

Colin Rowbury, Jon Bellis

+44 (0) 20 7399 9427

 


Axis Capital Markets Limited (Joint Broker)

Ben Tadd, Lewis Jones

+44 (0) 203 026 0449

About Woodbois:

Woodbois is a Guernsey-based company at the forefront of the timber industry, committed to delivering quality products and sustainable solutions. With a legacy of innovation and a vision for the future, it strives to set industry standards and exceed expectations. Please follow the Company on X: @WoodboisLtd

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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