Woodbois Ltd - Guernsey-registered, Africa-focused timber technology firm - Says the board now comprises of two independent non-executive directors, following the resignation of Chief Executive Officer & Executive Chair Guido Theuns and Chief Financial Officer Johannes Bloemen at the end of December. It expects to appoint a management company ‘shortly’ to support its business in Gabon, and is working to replace the two former executive directors with ‘lasting appointments that ensure the long-term success of the company’. The firm says it is focused on restarted production, which was delayed due to ‘congestion in our internal logistics chain’. It continues to target a production level of up to 50 containers per month, which it aims to achieve by late Spring.

The resignation news in December came after a November report that two unnamed major shareholders declined the company’s offer to participate in equity raising. The company does not confirm a link between the declined offer and executive resignations.

Current stock price: 0.19 pence, down 1.6% in London on Monday afternoon

12-month change: down 77%

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