Financiación del comercio por valor de 5 millones de dólares, progreso de Gabón y perspectivas para 2024
ORO 2000 TL 06/24 CTGM EUR
€2.91
18:30 29/04/24
8 de febrero de 2024
Woodbois Limited
("Woodbois", el "Grupo" o la "Compañía")
$5m Trade Finance Term Sheet Signed
Gabon Operational Progress
2023 Reporting & 2024 Outlook
Woodbois Limited (AIM: WBI), una empresa líder en la industria maderera internacional, se complace en anunciar the following strategic advances since the end of 2023.
The entire executive team is currently in Gabon implementing the Group's 2024 strategic initiatives following the previously announced changes in senior management. This, together with the work on the Trade Finance facility has led to a short delay from the anticipated timing of this announcement, for which the Company apologises.
Additional $5m Trade Finance Term Sheet Signed
Tras el anuncio del 29th December 2023, where the Company disclosed it was looking to finalise a trade finance facility of $3.5m, the Company is pleased to update that it has today entered into a term sheet for a $5m facility, (the "Trade Facility"). This will allow Woodbois to rapidly expand its third-party and own production trading, which is expected to significantly contribute to the Company's profitability this year. A further announcement will be made in due course when the Company executes the Trade Facility.
Gabon Operational Progress
The funds flowing from the new Trade Facility and other initiatives to enhance financial flexibility will enable the Group to achieve much greater activity and revenues in Gabon, as well as its strict focus on its drive to profitability, including:
· the commencement of a second shift in the Mouila sawmill;
· Increasing veneer production;
· production optimisation through improved line configuration and machinery maintenance, increasing yields and easing of bottlenecks such as kiln drying;
· cost savings through simpler, more direct management structures and other efficiencies;
· improvements in export processes; and
· worker and community welfare improvements.
2023 Reporting & 2024 Outlook
Prior Company updates, including that of 28th December 2023, noted that the year was characterised by various challenges resulting in the much lower production output, trading, turnover and overall activity than in prior years.
Unaudited net working capital at the 31 December 2023 was estimated at $4.7m including cash of $0.5m and excluding borrowings of $2.7m, the latter of which was reduced from $14.3m at the end of 2022. The working capital position has not changed significantly by the end of January 2024. The Company expects to issue its audited 2023 results in May 2024.
El Board is confident that 2024 will mark a positive and decisive turning point for Woodbois, turning the Company into a reliable, cash generative and profitable business with a high-quality investor base.
The Company also hopes to announce a strengthening of the Board with the appointment of a new Non-Executive Director in the coming weeks.
Guido Theuns, presidente ejecutivo y director ejecutivo, dijo: "The new $5m Trade Facility demonstrates great belief in the future-prospects of the Company, whilst initiatives are ongoing to further enhance our operational and financial flexibility. The Board is focused to achieve profitability in 2024, through enhancing production volumes and quality, expanding third party trading, whilst also further streamlining costs and progressing the carbon credit business plan.
In my first two months as Executive Chair and CEO, I have seen the great potential in the Company and the spirit of the team. I am sure Woodbois's inherent value will become increasingly realised.
The overarching goal is to reach profitability and become cash flow positive as swiftly as possible, thereby laying the platform for material growth, including via M&A, and ensuring that Woodbois is attractive as an investment. I am highly confident we will deliver for the benefit of all stakeholders."
Este anuncio contiene información privilegiada a efectos del artículo 7 del Reglamento (UE) n.º 596/2014, que forma parte de la legislación del Reino Unido en virtud de la Ley de (Retirada) de la Unión Europea de 2018 ("MAR").
Consultas:
Woodbois Limited Guido Theuns, presidente ejecutivo y director ejecutivo Carnel Geddes, directora financiera |
+ 44 (0) 20 7099 1940 |
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Canaccord Genuity (Asesor designado y Broker) Henry Fitzgerald-O'Connor harry pardoe | + 44 (0) 20 7523 8000 |
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Valores Novum (Articulación Broker) Colin Rowbury, Jon Bellis | +44 0 20 7399 9427 |
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Axis Capital Markets Limited (Articulación Broker) Ben Tadd, Lewis Jones | +44 0 203 026 0449 |
Acerca de Woodbois:
Woodbois es una empresa con sede en Guernsey a la vanguardia de la industria maderera, comprometida con ofrecer productos de calidad y soluciones sostenibles. Con un legado de innovación y una visión de futuro, se esfuerza por establecer estándares de la industria y superar las expectativas. Siga a la empresa en X: @WoodboisLtd
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