Woodbois Ltd on Wednesday noted the movement in its share price as the stock suddenly plunged after a military coup was declared in Gabon.

Shares in the Africa-focused forestry, timber trading and afforestation company were down by 11% at 0.61 pence each in London on Wednesday morning.

Woodbois noted recent reports of ‘government instability’, and said it will monitor the situation and provide any necessary updates relating to any significant delays in production.

Woodbois had scheduled for production at its Mouila sawmill facilities to be suspended to allow its staff to vote in the Gabon national elections, which were held on Saturday. On Tuesday, President Ali Bongo won his third term, but the result has been thrown into question on Wednesday after military officers declared a coup.

Production remains suspended.

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