EXCEL, VBA, Image: Image loses transparency after saving woorkbook

APPLICATION AND SYSTEM: Excel 2007, WINDOWS 10

PROBLEM: Imported images with transparent backgrounds appear as expected until the workbook is saved, closed and then re-opened. Upon re-opening, the image appears but without the original transparent background.

QUESTION: How is the transparent background of an imported gif preserved when the workbook is saved and closed.

BACKGROUND: I have a workbook which uses the LoadPicture(Application.GetOpenFilename) function to allow the User to populate a Image field with a picture. In our case we will be limiting the selected file(s) as gif format and recommending only those with transparent backgrounds. We then use Worksheets("{SHEET NAME}").Activate: ActiveSheet.OLEObjects("{TARGET IMAGE CONTROL}").Object.Picture = {CURRENT PAGE IMG}.Picture to 'copy' the selected image to image controls on several other sheets in the work book.

Selecting images and populating image controls now work well: The selected images with transparent backgrounds appear as expected - transparent. However, when re-opening the saved workbook selected images appear without their original transparent backgrounds.

Any help resolving this would be very much appreciated.

Regards,