Directorate Change

12 August 2024

WOODBOIS LIMITED

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

Board Changes

Woodbois Ltd (AIM:WBI), a leading Company in the international timber industry, announces the following Board changes.

Johannes Bloemen is appointed as CFO with immediate effect. He has been with the Group heading up and reorganising the Gabon finance function since early January 2024 and more recently has been assuming increasingly wider responsibility for the Group's finance function. Johannes has had a long career in senior financial positions in various complex municipalities, as well as providing accountancy and tax advice to other clients.

Further to the announcement on 12 June 2024, the Company also announces that Carnel Geddes, former CFO, and Graeme Thomson, Independent Non-Executive Director, step down from the Board of Directors today.

The Company remains committed to the corporate governance principles set out in the Quoted Companies Alliance Code and accordingly intend to appoint an additional independent Non-Executive Director in the coming months.

Executive Chair & CEO Guido Theuns said: "We are fortunate to have Johannes become our CFO today. The work he has performed since the start of 2024 in the reorganisation and revamp in Gabon has been impressive and invaluable. He has more recently also served as Interim Group Head of Finance.

As we consolidate disparate Woodbois offices and functions, he will assist materially in ensuring we are cost-effective, that our real-time reporting is first class, as well as helping to facilitate our growth, cash generation and profitability.

I wish to thank Carnel Geddes and Graeme Thomson, for the extended and professional handover to their replacements since they announced their intended departure.  They leave with our thanks and good wishes."

Johannes Bloemen, CFO, said "I have seen first-hand that there is huge potential for us to unlock in Woodbois and look forward to updating shareholders as we continue to right-size and streamline our production, systems and team."

Further information in relation to the Director appointment

Johannes Leonardus Bloemen (aged 62) has confirmed that, other than the information disclosed below, there are no matters to be disclosed under Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules.

Current directorships:

IFC BV 

Bloemen Beheer BV

Innovateam BV *

LED's make a difference BV *

Previous directorships or similar/partnerships held in the past 5 years:

Stadsgewest-Hertogenbosch (Financial Director)

Bloemen Beheer BVBA

* Bloemen Beheer BV, a company wholly owned by Johannes Bloeman, is the director

As at the date of appointment, Johannes Bloemen does not hold any shares or other interests in Woodbois.

Enquiries:

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