Member Info for Bob182071

@rock @falcon

Morning chaps,

I got told yesterday “this week” which has changed from start of this week. Language is changing so will keep my ear to the ground next week and see where we’re at!!

Internally, lot of people back to being frustrated and tempers getting a bit on the frayed side now and who can blame them? But yes, expected until the full health of the company is put on display for what happens next.

A real divide has been now created in the office between workforce and management which is never a good thing. I think all trust and confidence is now in the toilet.

We continue to win great work across our end markets - here’s this week's round-up:

Imerys – awarded feasibility study for the EMILI Lithium Conversion Plant in France. Led by Greg Hayes, Sarah Campbell, Daniel Loh, Tommaso Valcamonica, and Marco Mascheroni #MineralsandMetals

Vår Energi - awarded CCS concept study, examining injection of CO2 into the Trudvang reservoir (Norway). This follows on from the initial feasibility study also performed by Wood. Led by Elena Gerginov, Craig McKay, Justin Alexander, Brian O’Keeffe, Jonathan Capanda, Adel Samiei, David Simon & Lars Myklebost. #CCS #energytransition

Santos - awarded a Concept Select for Moomba CCS Phase 2, in Australia. Full scope techno-economic evaluation of competing liquid CO2 import terminal locations at Port Bonython, Gladstone and Darwin supplying CO2 to Moomba site. Routing and design of ~5,000 km of dense phase CO2 pipeline across the 3 options. Led by Stephen Stokes, Callum Peace, Thomas Forbes and Craig Naven #energytransition #CCS

OMV Petrom - selected to deliver a computerised maintenance management system (CMMS) build and to develop the pilot scope for operations manuals & procedures for the Neptun Deep project, Romania. Led by Dean Stewart, John D. Smith, Michael Reed and Liam Moloney, with guidance and support from Don MacKinnon. #digitalisation #energysecurity

I am so proud to see our continued winning and hugely grateful to everyone who’s making it happen. Thank you!

@newKOTB

It’s only what is known to us right now is the case. There may (or may not) be other interested parties in the background awaiting release of EOY 24 and the full audited figures before they show their hand(s).

I’d just sit back and relax until everything is out front and centre and then there’ll be some action in respect to whether the company can restructure the debt, other interested parties will emerge. Everything is just speculation at this juncture.

No formal bid can be made until every condition is satisfied.

@rick

That last couple of sentences is pure speculation and that’s being generous.

Could be a multitude of factors to why the end of year figures aren’t released yet, the main one being they simply aren’t ready. I don’t think once it’s completed and done would the BoD sit there and think “let’s just sit on them for a while and see what happens” is in anyway a sensible or good idea.

Just be patient and stop the nonsense.

@axelbobbyrod

No worries mate, no clue why it’s being deleted but will just keep churning the info through as it comes my man.

Yeah, nice and chilled. Had an odd dream last night that Sidara walked away from the table, I tell you what if that’s what’s being discussed at Wood HQ now, I’ll properly have freaked myself out. 🤣

@axelbobbyrod

All Project Delivery Managers have been summoned to SIWH this morning for meetings. Somethings brewing.

This is usually the day they are in client offices to show face but all meetings and face to faces with them have been cancelled! Will try and contract some people up there to see if there’s any further info available.

Appears some kind of announcement is forthcoming!

@falcon

I’ll take a free holiday if there’s one going 🤣🤣🤣🤣🤣

@jamesoxford

Here’s hoping some senior people behind the scenes are also of the same viewpoint. I’ve always thought there’s dark forces at play here with some members of the current board being ex-AMEC and ex-AMEC people being on the board at Sidara.

Let’s hope it’s all above board and they are taking their fiduciary responsibilities seriously here and doing what is right for the business.

@axelbobbyrod

I’m keen to specify that I’m probably the same as yourself. I’m long and happy with my position. Happy to discuss with anyone that is of the opposite view as well as long as done respectfully and not like other who are hoping we lose money.

I do believe the pension surplus being re-invested as capital could certainly provide some stability at the current time to allow the company to continue to chart its course on its own.

So just gonna kick the feet up, stay happy with my position and hopefully everyone who’s got some money invested makes a good bit on their investments. 😃

@kando

With regards to Ken, I’ve sat in on a lot of town halls and internal teams updates within the business. Doesn’t give me a warm and fuzzy feeling of a person that’s competent (I might be wrong here of course) but he’s like a politician, likes to dodge questions he should be answering, updates aren’t qualititative at all and very generic. Not for me.

Couple of town halls ago lady stood up and (stupid i know) but invested 35 years in the share plan and has lost a fortune. His ability to portray any kind of emotion towards this lady that told her story was pretty disgusting from my point of view.

Too robotic for me.

@kando

Arvind Balan situation sums up this whole company for me. Who on earth vetted and what internal controls were in place that allowed such an “oversight” to get through that the man was clearly not wholly competent for the job? Again, internal controls appear to be a real issue for Wood and hope that robust measures are put in place to sort them, I hold my breath.

I’m putting my flag in the ground with your dream scenario. I don’t think it’s too much of a pipe dream to see that happening either for me, until we see the financials it’s all up in the air but I’m going with financials will be not as bad as feared, bit more confidence from the financial institutions can be returned and then pension surplus can be injected and company can start to re-earn its standing in the world.

But would not at all surprise me if companies are just sitting ready to play their hands at the right time and again, that will be good for the shareholders. Just don’t want Sidara near it personally.

@dogger

Absolutely no chance at all will shareholders be wiped out. That’s just silly.

@rock

Also, internally everyone within the organisation in the past few weeks have become incredibly bullish that the company will continue to go along the road it’s currently going (albeit with better leadership here’s hoping).

Just going to wait and see what the end of the week brings and take it from there mate. Just a waiting game now.

@rock

No bother pal, will post what I get if that benefits anyone on here.

I personally want the company to continue going it alone, it’s navigated trickier waters than this in the 16 years I’ve been here. Not naive enough to want to end up with nothing either but if we’re seeing restructuring and replacing across regions, that (to me anyway) suggests they might be looking to continue operating as an independent company. Previous companies I’ve been at when this has occurred have completely frozen up until an end result was achieved, but wood appears to be doing the opposite in this instance and making sweeping changes in leadership (and hopefully board level next).

I understand everyone is in completely different positions with regards to holdings etc but I’m a bit 50/50 with what’s the best option here. 34/35 may sound like the right option for shareholders and can see an argument for it, but I’m on the opposite. Financial institutions will hopefully continue to relax (I believe you’re seeing some of that already) and allow Wood to refinance and restructure accordingly. I’ve taken my position now mate and happy to see what ensues. 35p might sound like the best option for shareholders at present, but I think the company can do MUCH better.

More leadership changes chaps

Operations EMEA Leadership Update

Team,

As we continue to strengthen our EMEA business and position ourselves for sustained growth in 2025 and beyond, I want to share some important updates to the Operations EMEA Leadership Team.

Middle East, Africa and Caspian

In the Middle East, Africa and Caspian (MEAC) region, Shaun Dewar is leaving the business to pursue other opportunities. Shaun has been with Wood for over 5 years and in addition to leading the MEAC business from Abu Dhabi, he also managed areas of our UK business including Operated Assets and Growth and Development. Please join me in thanking Shaun for his support over the years and wishing him all the best in his next chapter.

Martin Simmonite, currently Senior Vice President (SVP) of our UK operations, will assume the role of SVP for MEAC and will relocate to Abu Dhabi. Martin brings extensive experience from his previous senior leadership positions across the Middle East, where he successfully spearheaded geographical expansion initiatives in the region.

As Martin transitions into his new role, I will provide support to the MEAC business. Together with the MEAC leadership team, my primary focus will be on ensuring the safety of our people, enhancing our performance for clients and driving growth across the region.

UK

Darren Anderson will assume leadership of the UK business as SVP. Darren has been an integral part of my leadership team for the past two years, notably achieving full integration of the technical directorate into our operations. Darren’s extensive operational leadership experience at Amec Foster Wheeler and Worley, combined with his strong UK network and client base, positions him well to lead our UK business.

Technical Directorate

As Darren transitions into his new role, Jeff McDonald, who has been instrumental in developing the global Technical Directorate for Operations, will return to the regional business to lead the technical function within EMEA. Jeff brings a wealth of knowledge, passion and drive, and he will continue to enhance and strengthen our technical governance across the region.

I recognise that this is a lot of change to digest and that it may cause uncertainty. However, I want to emphasise that these changes will create further opportunities for even stronger delivery and growth across our business.

I commit to keeping you informed and updated. My door is always open, please do reach out to me or a member of my team if you have any questions.

Thank you for your continued support. Speak soon,

Ellis

@rock @falcon

Thanks chaps. We don’t get much sunshine in Aberdeen so going to enjoy it.

Will drop on later in the week if there’s anything from my side chaps. Take care.

@rock

On holidays this week chief. Work emails and internal yammer board are still being checked and forwarded for updates once known.

Spoke to a couple of people on Friday in the office and the same sentiment of EOY 24 figures to be released end of/start of next week.

Won’t be on a great deal this week until the back end when we see what happens. Us longys are comfortable in our position, just going to enjoy the sunshine and relax.

Just cause there’s silence, it’ll be cause nothing we don’t already known has an update.

Oh well, I’m convinced.

@rock

May also want to go and check the contrasting definitions of both from a legal standpoint.

You clearly don’t know the law.

@rock

You know the law? Is that your response to what is factually the current state of play?

Okay then. I’ll try not to laugh.