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14 May 2025 23:16:54
- Source: Sharecast
14 May 2025
WOODBOIS LIMITED
("Woodbois" or the "Company")
Resignation of Director
Woodbois Limited (AIM:WBI), the Africa-focused forestry, timber trading and afforestation company, announces that Paul Shackleton is stepping down as non-executive director of the Company with immediate effect by mutual agreement with the board of the Company (the "Board").
The Board would like to thank Paul for his hard work and determination over the past few months as a result of which the Company avoided significant jeopardy.
Issue of shares and related party transaction
The payment due to be made to Paul Shackleton announced on 28 March 2025 for the substantial additional work undertaken by him will now be satisfied by a payment of £25,000 in cash and the issue of 56,818,181 new ordinary shares of 0.01p each ("Ordinary Shares") to him. Accordingly, application has been made for an aggregate of 56,818,181 new Ordinary Shares, to be admitted to trading on AIM ("Admission") and it is expected that Admission, and the commencement of dealings in these new Ordinary Shares, will take place at 8.00 a.m. on or around 20 May 2025.
As Paul Shackleton is a related party pursuant to the AIM Rules for Companies, the variation to the previous payment due to be made to him constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies. Accordingly, the independent Directors (being Clive Roberts, Lucas Kanme and Cobus van der Merwe) consider, having consulted with the Company's Nominated Adviser, Allenby Capital Limited, that the terms of the variation to the previous payment are fair and reasonable insofar as the Company's shareholders are concerned.
The FCA notification, made in accordance with the requirements of the UK Market Abuse Regulation, is appended further below.
Total Voting Rights
Following Admission, the Company's issued and fully paid share capital will consist of 11,039,797,530 Ordinary Shares, with one voting right per ordinary share. The Company holds 19,138,147 Ordinary Shares in treasury, therefore the total number of voting rights in the Company is 11,020,659,383.
This figure may be used by Shareholders 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 FCA's Disclosure Guidance and Transparency Rules.
For further information, please contact:
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Woodbois Limited Lucas Kanme, Chief Executive Officer
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Allenby Capital Limited (Nominated Adviser) John Depasquale, Piers Shimwell
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+44 (0)20 3328 5656 |
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Novum Securities (Joint Broker) Colin Rowbury, Jon Bellis |
+44 (0) 20 7399 9427 |
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Axis Capital Markets Limited (Joint Broker) Lewis Jones |
+44 (0) 203 026 0449 |
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Hobart Capital Markets LLP Mike Staten |
+44 (0) 207 0-.070 5600 |
Website: www.woodbois.com
About Woodbois Limited
Woodbois Limited is a vertically integrated forestry company, focused on the production, processing, and trading of sustainable timber and related products.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
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1. |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Paul Shackleton |
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2. |
Reason for the Notification |
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a) |
Position/status |
Non-Executive Director |
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b) |
Initial notification/Amendment |
Initial Notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Woodbois Ltd |
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b) |
LEI |
2138001U7SLCSRKV3P06 |
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4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
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a) |
Description of the Financial instrument, type of instrument |
Ordinary Shares of 0.01 pence each |
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Identification code |
GG00B4WJSD17 |
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b) |
Nature of the transaction |
Issue of Ordinary Shares in lieu of fees |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information: -Aggregated volume -Price |
n/a |
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e) |
Date of the transaction |
14 May 2025 |
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f) |
Place of the transaction |
Outside of a trading venue |
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