ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

WBI Woodbois Limited

0.33
0.00 (0.00%)
07 Nov 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
  0.00 0.00% 0.33 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Chem,fertlizer Minrl Mng,nec 7.94M -8.13M -0.0021 -1.57 13.02M

Woodbois Limited Subscription of £1 million

04/10/2024 7:00am

RNS Regulatory News


RNS Number : 9116G
Woodbois Limited
04 October 2024
 

 

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (REGULATION (EU) NO 596/2014), AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AND THE EUROPEAN UNION (WITHDRAWAL AGREEMENT) ACT 2020.  UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 

Woodbois Limited

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

 

Subscription of £1 million

Woodbois, is pleased to announce the successful subscription of £1 million from new and existing shareholders. The net proceeds of the fundraising will strengthen the Company's balance sheet whilst providing additional funding to accelerate exports of its product.

The increase of working capital strengthens the Company's financial position, enhancing liquidity for timely operational needs. It supports growth initiatives (for example optimizing export to 50 containers a month), funding expansions and innovation to drive future revenues. Increased working capital is expected to improve operational efficiencies and cost management. The Board believes this strategic move enhances stakeholder confidence by demonstrating robust financial management and reduces dependency on debt, providing flexibility to seize market opportunities. The net proceeds will also help the Company fund the registration process of its carbon credits trading business.

Gross proceeds of £1 million (approximately $1.3 million) have been raised by way of a subscription (the "Subscription") of 357,142,857 new ordinary shares of 0.01p each in the Company ("New Ordinary Shares") at a price of 0.28 pence per New Ordinary Share (the "Subscription  Price").

Axis Capital Markets Limited ('Axis') has subscribed for the shares on behalf of its clients.

The New Ordinary  Shares represent 9.05 per cent of the existing issued voting Ordinary Share capital of the Company prior to the fundraise. Proceeds of the Subscription will be used for general working capital purposes.

The New Ordinary Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with each other and with the existing ordinary shares in the capital of the Company, including, without limitation, the right to receive all dividends and other distributions declared, made or paid after the date of issue.

Subscription Agreements

The Company has entered into two  subscription agreements (the "Subscription Agreements") with Axis. The Subscription Agreements contain terms and conditions and Axis is entitled to terminate the Subscription Agreements at any time prior to the relevant Admissions in certain circumstances.

Share Capital

Application will be made to London Stock Exchange plc for the admission of the New Ordinary Shares to trading on AIM. It is expected that admission for 90,000,000  New Ordinary Shares and 267,142,857 New Ordinary Shares  will become effective on or before 8.00 a.m. on 10th October and 18th October respectively ( the "Admissions").

Following the Admissions, the Company's total share issued capital will be 4,907,131,730 ordinary shares, which will consist of 4,302,993,583 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.

Chief Executive Officer Guido Theuns said:

"The additional capital will enable us to enhance our export capabilities and invest in innovative initiatives like our carbon credits trading business. We are grateful for the confidence shown by our shareholders and remain committed to delivering sustainable growth and value."

 

Woodbois Limited

Guido Theuns, Executive Chair & CEO

Johannes Bloemen, CFO

 + 44 (0)20 7099 1940



Canaccord Genuity (Nominated Advisor)

Henry Fitzgerald O'Connor, Harry Pardoe

 

+ 44 (0)20 7523 8000

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
IOELXLLBZBLXFBQ

1 Year Woodbois Chart

1 Year Woodbois Chart

1 Month Woodbois Chart

1 Month Woodbois Chart

Your Recent History

Delayed Upgrade Clock