Woodbois confirms potential equity fundraising
Woodbois Limited
0.63p
16:49 26/04/24
0.00%
0.00p
Woodbois confirmed on Friday that it is considering an equity raising.
FTSE AIM All-Share
755.28
17:14 26/04/24
n/a
n/a
Mining
10,486.86
16:59 26/04/24
0.80%
83.12
Responding to market speculation, the company said it has received a proposal from an intermediary regarding a proposed equity fundraising of around £3m.
"The board has evaluated this proposal and intends to make a final decision on receipt of legally binding documentation," it said, adding that there can be no certainty a fundraising will occur.
"The company will provide a further update in due course," it said.
Woodbois is an AIM-listed African-focused forestry company.
At 1405 GMT, the shares were down 5.9% at 1.29p.