Cambio de Junta Directiva, Iniciativas Estratégicas y Conjunción Broker
ORO 2000 TL 06/24 CTGM EUR
€2.91
18:30 15/05/24
29th December 2023
Woodbois Limited
("Woodbois", el "Grupo" o la "Compañía")
(OBJETIVO: Banco Mundial)
Executive Chair appointed
Strategic initiatives & operations
Conjunto broker
Woodbois Limited (AIM: WBI), the Africa-focused forestry, timber trading, afforestation and voluntary carbon credit company se complace en anunciar the following changes to enhance its future development.
Silla de ejecutivo
As a result of the organisational review previously announced it has become clear that the Company needs a full-time Director Ejecutivo Chair if it is to achieve the demanding plans it is developing. Guido Theuns, who was appointed to the Board on 4 December 2023, has been invited and has accepted this role with immediate effect. He has extensive African and financial reorganisation experience.
Guido said "There is much work to be done to ensure the value inherent within Woodbois' assets is fully realised. I have been impressed by the team and its spirit, as well as their determination to make the Company a great success. I am confident in our ability to secure new resources as required, including strengthening where required, and look forward to substantial progress in 2024."
Graeme Thomson, outgoing Chair, will reduce the time he devotes to the Company owing to his expanding other interests but has agreed to remain as Senior Independent Non-Executive Director.
Iniciativas estrategicas
Investors rightfully seek an attractive return on their investments, accompanied by regular updates that offer transparent insights into the De la empresa operations and plans. The Company is steadfastly dedicated to enhancing its shareholder communication provided with consistent and informative updates.
To enhance and realise the shareholder value inherrent in its assets and objectives, Woodbois is undertaking four simultaneous strategic initiatives:
1. Cost Streamlining: It will rigorously evaluate and optimise costs where possible and necessary, including a comprehensive review of su international legal structure.
2. Production Optimisation: Maximizing wood production and yields is paramount. It is implementing new team leadership, enhancing production teams, and increasing shifts. This strategic move will not only enhance efficiency but also instill pride in being a part of Woodbois. Leveraging technologies such as StarLink connections will ensure faster and transparent reporting.
3. Trading Team Expansion: Woodbois is focused on expanding su trading team, coupled with shortly finalising a $3.5 million trade finance facility1. This strategic step empowers our team to trade beyond Woodbois' production volume, significantly contributing to Company profitability.
4. Carbon Credits Business Plan: Following our engagement with stakeholders at COP28 in Dubai, Woodbois is diligently working on a comprehensive business plan for Carbon Credits, with its project in Gabon being its first. This initiative holds the potential to become a lucrative addition to our diversified business portfolio.
Woodbois finds itself at a pivotal juncture, and with confidence in su capable management team and dedicated employees, the Board are optimistic that it can effect positive change.
Our overarching goal is to reposition Woodbois as an attractive investment-a company known for its excellence, reliability, cash generation and profitability.
Resumen operativo
· Conditional $3.5m line of credit agreed to permit third party trading operations to restart1
· Further governmental negotiations re lease concession agreement for carbon credit project expected to be concluded in H1 2024: plan to conclude, secure project specific funding and commence pilot study
· Negotiations on-going to enhance operational and financial flexibility
· Excellent progress on clearing a restrictive backlog of repairs, maintenance and creditors
· Estimated 2023 turnover of c$8 million reflects previously announced events
· Eestimado H2 sawmill production of c.3,200 m3 and 2023 full year production of c6,900 m3
· Veneer paused throughout H2 to initially focus on sawmill operations: 2023 full year production c1,900 m3
· Confidence in the outlook for 2024 compared with 2023.
· A full Q4/2023 update and outlook will be released in late January 2024.
El Directorio firmly believe that 2024 will mark a positive and decisive turning point for Woodbois.
Cita de Axis Capital Markets as Joint Broker
The Company has also been increasingly aware of the need for a further proactive broker to assist in marketing and promoting it as it develops and is pleased to appoint Axis Capital Markets as Joint Broker a partir de hoy alongside Canaccord Genuity and Novum Securities.
1 a $3.5m line of credit for trading has been agreed, subject to final documentation expected in January 2024
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, Independent Executive Chair David Rothschild, director ejecutivo Graeme Thomson, Independent Non-Executive Director |
+ 44 (0) 20 7099 1940 |
Canaccord Genuity (Asesor designado y Broker) Henry Fitzgerald-O'Connor harry pardoe
| + 44 (0) 20 7523 8000 |
Valores Novum (Articulación Broker) Colin Rowbury, Jon Bellis | +44 0 20 7399 9427 |
Axis Capital Markets Limited (Articulación Broker) Ben Tadd, Lewis Jones | +44 0 203 026 0449 |
Fondo en Woodbois
Woodbois Limited (AIM:WBI) is an Africa-focused forestry company, divided into three distinct, but highly complementary divisions comprising the production and supply of sustainable African hardwood products, the trading of timber and timber products, and an afforestation and carbon credit division.
Woodbois' forestry division has production facilities in Gabon and Mozambique, managing a total of c480,000 hectares of natural forest concessions. The trading division comprises an experienced team of timber specialists, who source and supply sustainable timber to a global customer base. Its proprietary technology developed in-house, captures, stores and presents data, providing a matching engine to build scale and optimise trading opportunities with its global customer base.
The Company's carbon sequestration and trading division aims to generate voluntary carbon credits for corporate partners through the delivery of large-scale afforestation projects. It has been allocated land of c69,000 hectares in Gabon, its first such project.
El enfoque de la empresa en la transparencia y la sostenibilidad de sus operaciones madereras ha sido reconocido por la Sociedad Zoológica de Londres, que clasificó a Woodbois en el octavo lugar en sus evaluaciones de transparencia de la política ESG de Sustainability Policy Transparency Toolkit ("SPOTT") para las industrias mundiales de la madera y la pulpa. para 2022.
La compañía tiene a partnership with World Forest ID, to enhance the traceability and identification of timber, originating from the Company's forest concessions, firstly in Gabon. World Forest ID is an international organisation, which is revolutionizing the protection of forests through the application of science-based origin tracing and species identification. World Forest ID is building an extensive global library of reference samples, from various forest regions, for use in cross verification.
Siga a la empresa en Twitter: @WoodboisLtd
RNS puede usar su dirección IP para confirmar el cumplimiento de los términos y condiciones, para analizar cómo interactúa con la información contenida en esta comunicación y para compartir dicho análisis de forma anónima con otros como parte de nuestros servicios comerciales. Para obtener más información sobre cómo RNS y la Bolsa de Valores de Londres utilizan los datos personales que nos proporciona, consulte nuestra Política de privacidad.