20th Mar 2019 13:36
LONDON (Alliance News) - Obtala Ltd on Wednesday said its shareholders have approved a name change of the company to Woodbois Ltd.
Following approval, the change on name will be effective on receipt of the change of name certificate from the Guernsey Registry, which is expected by the company later on Wednesday.
Dealings under the new name and ticker WBI will commence on Thursday.
The Africa-focused forestry firm proposed the name change back in October, as it believes the new name reflects the increasingly apparent strength of the Woodbois brand, which was acquired in July 2017.
Woodbois is a sawn timber trader. It is Denmark based, but all its operations are in Africa.
Obtala shares were trading down 4.2% at 6.80 pence each on Wednesday afternoon.