Woodbois Limited COVID-19 update (7926H)
27 Marzo 2020 - 1:00AM
UK Regulatory
TIDMWBI
RNS Number : 7926H
Woodbois Limited
27 March 2020
27 March 2020
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain.
Woodbois Limited
("Woodbois", the "Group" or the "Company")
(AIM: WBI)
COVID-19 Update
Woodbois, the African focused forestry and timber trading
company, provides the following update.
The impact on the business to date of COVID-19 has been limited
but the growing spread of the virus and the actions adopted by
governments around the world, and particularly in Gabon, to
mitigate the consequences of the pandemic, are likely to result in
supply chain disruption within the timber industry. Our first
priority is the safety and health of all of our employees and their
families. Management has taken active measures to help minimise the
risk of infection and to safeguard the continuity of day-to-day
business operations.
There is a possibility however that our sawmill and veneer
factory sites in Mouila, Gabon may need to be operated by reduced
numbers of staff or possibly even halted for an indeterminate
period of time during 2020. In the event of port closures in Gabon
or elsewhere and extreme disruption to supply routes, contingency
cash conservation plans are in place, including temporarily closing
factories and the halting of new trades.
As of today there has been no material impact on the Group's
activities from the virus. However, the rapid pace of developments
in connection with COVID-19 has caused such fundamental levels of
uncertainty, that the Board has decided to withdraw any guidance on
its financial outcome for 2020 until the implications for the
business can be assessed reliably. The Company will continue to
update the market when appropriate.
Enquiries:
Woodbois Limited
Paul Dolan - CEO
www.woodbois.com
+44 (0)20 7099 1940
Arden Partners Plc (Nominated adviser and broker)
Richard Johnson
+44 (0)20 7614 5900
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END
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