TIDMWBI
RNS Number : 2820Y
Woodbois Limited
11 May 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF WOODBOIS LIMITED.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO
ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE
PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT
2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS
AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN
779021)
11 May 2021
Woodbois Limited
(" Woodbois " or the " Company " ) ( LON : WBI )
PrimaryBid Offer
Woodbois Limited ( LON : WBI ), the AIM listed African focused
forestry and timber trading company , is pleased to announce, a
conditional offer for subscription via PrimaryBid (the "PrimaryBid
Offer") of new ordinary shares of 1 pence each in the Company ("New
Ordinary Shares") at an issue price of 6 pence per New Ordinary
Share (the "Issue Price"), being a discount of 20 per cent to the
closing mid-price on 10 May 2021. The Company is also conducting a
placing of New Ordinary Shares at the Issue Price by way of an
accelerated bookbuild process (the "Placing") as announced at
earlier today. Furthermore, Rhino Ventures Limited, the Company's
largest shareholder, is intending to subscribe for up to GBP1.4
million worth of new Ordinary Shares, alongside certain other
potential investors for New Ordinary Shares, (together the "
Subscription Shares ") at the Issue Price directly with the Company
(the " Subscription ").
The PrimaryBid Offer and the Placing are conditional on the new
Ordinary Shares to be issued pursuant to the PrimaryBid Offer and
the Placing being admitted to trading on AIM ("Admission").
Admission is expected to be take place at 8.00 a.m. on 17 May 2021
. The PrimaryBid Offer will not be completed without the Placing
also being completed.
The Company will use the funds raised to:
-- Establish its presence in the carbon sequestration market
through the acquisition and then planned reforestation of degraded
and savannah land in Gabon while progressing parallel discussions
for large-scale reforestation projects with corporations who are
looking for carbon offsets;
-- Expand its forestry concessions through the acquisition
56,000 ha close to the Company's existing forests in Mimongo,
Gabon;
-- Enhance its production capacity through the construction and
installation of the required infrastructure for the second of the
two recently purchased veneer lines due online in H2 2022; and
-- Purchase a blockboard line to utilise waste product and
expand revenue potential for the Company.
PrimaryBid Offer
The Company values its retail investor base and is therefore
pleased to provide private and other investors the opportunity to
participate in the PrimaryBid Offer by applying exclusively through
the PrimaryBid mobile app available on the Apple App Store and
Google Play. PrimaryBid does not charge investors any commission
for this service.
The PrimaryBid Offer, via the PrimaryBid mobile platform, will
be open to individual and institutional investors following the
release of this announcement. The PrimaryBid Offer will close at
the same time as the bookbuild. The PrimaryBid Offer may close
early if it is oversubscribed.
The Company in consultation with PrimaryBid reserves the right
to scale back any order at its discretion. The Company and
PrimaryBid reserve the right to reject any application for
subscription under the PrimaryBid Offer without giving any reason
for such rejection.
No commission is charged to investors on applications to
participate in the PrimaryBid Offer made through PrimaryBid. It is
vital to note that once an application for New Ordinary Shares has
been made and accepted via PrimaryBid, an application cannot be
withdrawn.
For further information on PrimaryBid or the procedure for
applications under the PrimaryBid Offer, visit www.PrimaryBid.com
or email PrimaryBid at enquiries@primarybid.com .
The New Ordinary Shares will be issued free of all liens,
charges and encumbrances and will, when issued and fully paid, rank
pari passu in all respects with the Company's existing Ordinary
Shares.
Woodbois Limited +44 (0)20 7099
Paul Dolan - Chair and CEO 1940
PrimaryBid Limited enquiries@primarybid.com
Charles Spencer / James Deal
Canaccord Genuity , Nominated Advisor, Sole Bookrunner
and Broker
Henry Fitzgerald-O'Connor
James Asensio +44 (0)20 7523
Thomas Diehl 8000
Details of the PrimaryBid Offer
The Company highly values its retail investor base which has
supported the Company alongside institutional investors over
several years. Given the longstanding support of retail
shareholders, the Company believes that it is appropriate to
provide retail and other interested investors the opportunity to
participate in the PrimaryBid Offer. The Company is therefore
making the PrimaryBid Offer available exclusively through
PrimaryBid.
The PrimaryBid Offer is offered under the exemptions against the
need for a prospectus allowed under the Prospectus Rules. As such,
there is no need for publication of a prospectus pursuant to the
Prospectus Rules, or for approval of the same by the Financial
Conduct Authority in its capacity as the UK Listing Authority. The
PrimaryBid Offer is not being made into any Restricted Jurisdiction
or any other jurisdiction where it would be unlawful to do so.
There is a minimum subscription of GBP100 per investor under the
terms of the PrimaryBid Offer which is open to existing
shareholders and other investors subscribing via the PrimaryBid
mobile app.
For further details please refer to the PrimaryBid.com website
at www.PrimaryBid.com . The terms and conditions on which the
PrimaryBid Offer is made, including the procedure for application
and payment for New Ordinary Shares, is available to all persons
who register with PrimaryBid.
Investors should make their own investigations into the merits
of an investment in the Company. Nothing in this announcement
amounts to a recommendation to invest in the Company or amounts to
investment, taxation or legal advice.
It should be noted that a subscription for New Ordinary Shares
and investment in the Company carries a number of risks. Investors
should consider the risk factors set out on PrimaryBid.com before
making a decision to subscribe for New Ordinary Shares. Investors
should take independent advice from a person experienced in
advising on investment in securities such as the New Ordinary
Shares if they are in any doubt.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com .
END
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STRDKDBNPBKDCPD
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May 11, 2021 11:41 ET (15:41 GMT)
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