Woodbois Ltd - Guernsey-registered, Africa-focused timber technology firm - Reports the resignation of Chief Executive Officer & Executive Chair Guido Theuns, plus Chief Financial Officer Johannes Bloemen. Both resignations are effective immediately. Woodbois is yet to provide reasons for the pair’s exit or to specify their successors. The company is planning a further announcement ‘as soon as practiceable’.

The news follows a November report that two major shareholders, who remain unnamed, declined the company’s offer to participate in equity raising. The company intended to raise a further £200,000 on top of the £1 million raised at November 21, but Woodbois in November said ‘the uptake of this offer was not as anticipated’. The company does not confirm a link between the declined offer and the resignation of its executives.

Current share price: 0.20 pence, closed 1.0% higher in London

12-month change: down 79%

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