Woodbois Limited Holding(s) in Company
02 September 2024 - 4:00PM
RNS Regulatory News
RNS Number : 4142C
Woodbois Limited
02 September 2024
2nd September 2024
WOODBOIS LIMITED
("Woodbois," the
"Group," the "Company")
Holding in Company
Woodbois Ltd (AIM: WBI), a leading company in
the international timber industry, announces that, further to the
announcements on 28 June 2024 and 21 August 2024, the Company
believes that CHCH Ventures FZ - LLC ("CHCH") has fallen below a
notifiable interest in the voting share capital of the Company.
However, as in the past, the Company has not received any formal
notification from CHCH.
Guido Theuns,
Executive Chair and CEO, commented: "I am very
pleased to see this significant and persistent share overhang
finally addressed. Since February, Woodbois shares have experienced
a substantial decline in price. The Directors believe that this
downturn was primarily due to the actions of our major shareholder
CHCH (at the time a 20% shareholder), who, without any prior
communication with Woodbois, decided to transfer their shares to a
third party. We have since learned that these shares were held in
trust and do not believe that CHCH was authorized to make this
transfer. The third party who accepted these shares subsequently
sold them at progressively lower prices, driving a sharp price
drop.
"Despite the current share price, we firmly
believe it does not reflect Woodbois' true value. With the measures
we have implemented and the support from our dedicated investors
who have since absorbed these shares, we are confident that the
share price will soon return to its rightful value. We appreciate
the patience and continued trust of our shareholders during this
period.
"We will provide further updates on strategic
and commercial developments as we continue to implement the
rationalisation and turnaround of our Company, ahead of the release
of our full interim statements in September."
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Woodbois Limited
Guido Theuns, Executive Chair &
CEO
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+ 44 (0)20 7099
1940
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Canaccord Genuity (Nominated Advisor and Broker)
Henry Fitzgerald O'Connor, Harry Pardoe
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+ 44 (0)20 7523 8000
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Novum Securities (Joint Broker)
Colin Rowbury, Jon Bellis
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+44 (0) 20 7399 9427
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Axis Capital Markets
Limited (Joint
Broker)
Ben Tadd, Lewis Jones
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+44 (0) 203 026 0449
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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
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END
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