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Preference Share Restructure into 4% Convertible

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RNS Number : 4422Q
Woodbois Limited
21 October 2019
 

21 October 2019

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.

 

Woodbois Limited

("Woodbois", the "Group" or the "Company")

(AIM: WBI)

 

Preference Share Restructure into 4% Convertible Bond

Woodbois, the African focused forestry and timber trading company, is pleased to provide an update on the announcement of 20th September of the proposed restructure of the perpetual preference shares in its subsidiary Argento Ltd ("Preference Shares") into a 4% convertible bond 2024 ("Bonds") to be issued by the Company.

 

The Company has now completed the purchase of the full 75,000 Preference Shares in issue and Neville Registrars Limited, who have been appointed by the Company to act as transfer agent, have been instructed to issue the Bonds.  It is expected that CREST accounts will be credited within 48 hours and paper certificates will be despatched as soon as practicable.

 

CEO Paul Dolan commented "I'm delighted to report the completion of this transaction, marking another important milestone in the transformation of the Company's capital structure.  The resulting improvement of transparency within the balance sheet ensures that the Company is now much more strongly positioned to take advantage of the many opportunities ahead. "

 

 

Woodbois Limited

Paul Dolan - CEO

Kevin Milne - Interim Chairman

www.woodbois.com

 

+44 (0)20 7099 1940

Arden Partners Plc (Nominated adviser and broker)

Tom Price 

+44 (0)20 7614 5900

 


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 [email protected] or visit www.rns.com.
 
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CONLLFLEIRLTLIA

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Price: 5.9

Market: LSE
Market Cap: £27.46 m
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