18th September 2024
Woodbois
Limited
("Woodbois", "the
Group" or "the Company")
Gabon Wood Sector Operational
Update
Woodbois would like to provide an
update on our current operational status in Gabon amidst ongoing
developments in the wood sector. The industry is currently
navigating a period of unrest, with various companies facing
challenges on the working floor related to labor negotiations and
political uncertainty, particularly in the lead-up to the upcoming
elections.
In light of entering the short rainy
season, we are carefully managing operations to prioritize both
safety and productivity. This includes temporary halts to certain
activities, such as forest operations, when road conditions
deteriorate and affect operational efficiency. Additionally, when
our warehouses reach full capacity, we make a conscious decision to
halt production to avoid the storage of dried wood outdoors in
adverse weather conditions.
Given this set of circumstances,
Woodbois has experienced incidences of disruption in its labour
force but remains well-prepared for any further instability. We
maintain an ample stock of materials and have containers, as
planned, ready for shipment at the port, as well as containers
already on route to international markets. These measures ensure
that our revenue streams remain intact, even as we continue to
adapt to evolving conditions.
Our approach allows for flexibility,
as numerous stages of our operations-from cutting wood to shipping
containers-can be paused or resumed as dictated by economic and
logistical factors. We remain committed to maintaining high
standards of safety and quality across all stages of our supply
chain, ensuring minimal disruption to our global
customers. We will continue to closely
monitor the situation and provide updates as necessary.
We plan to release our interim
results for the six months to 30 June 2024 over the coming days,
which will include any further updates as necessary.
Enquiries:
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Woodbois Limited
Guido Theuns, Executive Chair &
CEO
Johannes Bloemen, CFO
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+ 44 (0)20 7099 1940
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Canaccord Genuity (Nominated Advisor and
Broker)
Henry Fitzgerald-O'Connor
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