$5m Trade Finance Facility Completed
Updated : 08:47
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 Carnel Geddes, CFO |
+ 44 (0)20 7099 1940 |
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Canaccord Genuity (Nominated Advisor and Broker) Bobbie Hilliam, Harry Pardoe
| + 44 (0)20 7523 8000 |
Novum Securities (Joint Broker) Colin Rowbury, Jon Bellis | +44 (0) 20 7399 9427 |
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Axis Capital Markets Limited (Joint Broker) Ben Tadd, Lewis Jones | +44 (0) 203 026 0449 |
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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