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").
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Woodbois Limited
Guido Theuns, Executive Chair &
CEO
Carnel Geddes, CFO
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+ 44 (0)20 7099 1940
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Canaccord Genuity (Nominated Advisor and
Broker)
Bobbie Hilliam, Harry Pardoe
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+ 44 (0)20 7523 8000
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Novum Securities (Joint Broker)
Colin Rowbury, Jon Bellis
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+44 (0) 20 7399 9427
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Axis Capital Markets Limited (Joint Broker)
Ben Tadd, Lewis Jones
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+44 (0) 203 026 0449
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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