WBI Woodbois Limited

This announcement is released by the Company and the information contained within this announcement is deemed by the Company to constitute inside information for the purposes of Article 7 of the UK version of the EU Market Abuse Regulation (Regulation (EU) No.596/2014) which forms part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a Regulatory Information Service, such information is now considered to be in the public domain. The person responsible for arranging for the release of this announcement on behalf of the Company is Paul Shackleton, Non-executive Director.

10 January 2025

WOODBOIS LIMITED

("Woodbois" or the "Company")

Termination of Facilities with Nykredit Bank A/S

The Company has received a letter from Nykredit Bank A/S ("Nykredit" or the "Bank") which terminates loan facilities to the Company's subsidiary, Woodbois International ApS, for repayment in full. Woodbois Limited is the guarantor of this loan and in an accompanying letter to the Company the guarantee is called. The amounts outstanding are approximately DKK 6.8m (USD 0.61m) and EUR 2.05m (USD 2.11m), and the repayment deadline is 17 January 2025.

The letter from Nykredit explains that the reason for termination is that, over the past year, discussions and dialogue for the purpose of reaching an amicable agreement to settle the Company's debt to Nykredit has regrettably failed to reach such an agreement. 

The letter invites the Company to discuss a settlement agreement with the Bank.

The Directors believe that a settlement agreement is in both parties' interest, and together with advisers, will seek to achieve this as soon as possible. A further announcement will be made in due course.

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