REG - Woodbois Limited - $5m Trade Finance Facility Completed

WoodboisAnnouncement

24/06/2024 07:00

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RNS Number : 4893T  Woodbois Limited  24 June 2024

24 June 2024

WOODBOIS LIMITED

 

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

 

$5m Trade Finance Facility Completed

 

Woodbois Ltd (AIM:WBI), a leading Company in the international timber
industry, announces that, as envisaged in its release of 12 June 2024, it has
completed the legal documentation and entered into a $5m trade finance
facility with a Dubai family office.

 

This important milestone is a strategic part of Woodbois broader plan to
enhance its trading activities and expedite its growth trajectory.

 

Strengthening Trading Capabilities

The new finance facility will provide Woodbois with the capital necessary to
help it to:

-     expand its trading volumes

-     allow it to leverage new opportunities in the hardwood sector

-     enable it to commit to larger and more frequent transactions

-     enhance its supply chain efficiencies and logistics

-     further strengthen its position in the global hardwood market.

Woodbois is committed to its strategy of sustainable growth and remains
focused on delivering value to its shareholders while maintaining the highest
standards of environmental stewardship.

Key Terms

The key terms include:

-     repayment of principal by 30.5.27

-     interest at 9.5% pa, payable monthly

-     the lender to approve each request for trade finance

-     secured by a Company guarantee, as well as a fixed and floating
charge if requested.

 

Guido Theuns, Executive Chair & CEO of Woodbois, commented:

"This is an exciting time for the Group as we secure this $5 million trade
finance facility with a family office that shares our vision for sustainable
growth. Whilst it has taken some time to find the right partner, we firmly
believe that this relationship will further strengthen in time.

This facility not only reinforces our financial stability but also enhances
our ability to capitalise on market opportunities more swiftly and efficiently
than currently."

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 which forms part of UK law by virtue of the
European Union (Withdrawal) Act 2018 ("MAR").

 Woodbois Limited

 Guido Theuns, Executive Chair & CEO                + 44 (0)20 7099 1940

 Carnel Geddes, CFO

 Canaccord Genuity (Nominated Advisor and Broker)   + 44 (0)20 7523 8000

 Bobbie Hilliam, Harry Pardoe

 Novum Securities (Joint Broker)                    +44 (0) 20 7399 9427

 Colin Rowbury, Jon Bellis

 Axis Capital Markets Limited (Joint Broker)        +44 (0) 203 026 0449

 Ben Tadd, Lewis Jones

About Woodbois:

Woodbois is a Guernsey-based company at the forefront of the timber industry,
committed to delivering quality products and sustainable solutions. With a
legacy of innovation and a vision for the future, it strives to set industry
standards and exceed expectations. Please follow the Company on X:
@WoodboisLtd

 

 

 

 

 

 

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