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WBI Woodbois Limited

0.78
-0.045 (-5.45%)
28 Mar 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
  -0.045 -5.45% 0.78 0.76 0.80 0.825 0.76 0.825 5,328,465 10:46:53
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Chem,fertlizer Minrl Mng,nec 23.11M -111.19M -0.0302 -0.26 28.75M

Woodbois Limited Timber Offtake Agreement MOU (0558V)

29/11/2019 7:00am

UK Regulatory


Woodbois (LSE:WBI)
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TIDMWBI

RNS Number : 0558V

Woodbois Limited

29 November 2019

29 November 2019

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.

Woodbois Limited

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

(AIM: WBI)

Timber Offtake Agreement MOU

Woodbois, the African focused forestry and timber trading company, is pleased to announce that it has entered into a Memorandum of Understanding ("MOU") with a leading West African timber supplier ("Supplier") to offtake all of their timber production in Liberia. A formal offtake agreement is expected to be entered into in January 2020.

Under the terms of the MOU, Woodbois will have exclusive right of first refusal to purchase.

The formal offtake agreement is expected to generate material additional trading revenue for the Group in 2020, with scope to increase as the agreement develops.

The MOU shall automatically renew on 31(st) December 2020, unless otherwise agreed. Either party may terminate the MOU at one month's notice.

CEO Paul Dolan commented "This agreement will allow us to further diversify the products we offer to our broad customer base. We are delighted that the organisation with whom we have partnered in Liberia, has recognised the advantages of supplying through the Woodbois brand. "

 
Woodbois Limited 
 Paul Dolan - CEO 
 Kevin Milne - Interim Chairman 
 www.woodbois.com                                   +44 (0)20 7099 1940 
Arden Partners Plc (Nominated adviser and broker) 
 Richard Johnson / Ciaran Walsh                     +44 (0)20 7614 5900 
 

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.

END

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(END) Dow Jones Newswires

November 29, 2019 02:00 ET (07:00 GMT)

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