London – Woodbois Limited, the international timber company, has today announced the commencement of a handover process following the resignation of its chief executives on 24 December 2024. The company’s board now consists of only two. independent (LON:) Non-Executive Directors (INEDs) who are actively involved with management to maintain operations in Africa, particularly in Gabon.
Following the departure of the executive team, Woodboys is in talks with its advisers and representatives of certain significant shareholders to appoint a management company. This interim solution aims to support the Gabon team in domestic logistics, shipping and international sales. The company emphasized that its priority is to make permanent executive appointments to ensure the long-term success of the company, with further upgrades if necessary.
Woodbois also addressed its operational focus, which is to restart production, which has been hampered by congestion in the domestic logistics chain. Despite these challenges, the company managed to ship 5 containers from the Port of Libreville in December 2024. Woodbois has set a goal of increasing production to 50 containers per month by the end of spring.
This announcement, which is based on a press release announcement, releases information into the public domain under the UK version of the EU Market Abuse Regulation. Paul Shackleton, Non-Executive Director, is responsible for issuing this update.
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