Member Info for Bob182071

@rock - here’s the original email title. It’s okay to admit you’re wrong. You clearly don’t know anything. As it stands, proposal only.

Update on possible offer from Sidara

Wood has received a proposal from Sidara for a possible acquisition of Wood. The proposal amounts to a total package of around $800 million, including:

@rock

Again, there’s no offer.

It’s a proposal and nothing more.

@rock

There is no offer. Let’s be clear on that. There’s an outline of an agreement, that is all there is at the moment.

Nothing is on the table for consideration.

@falcon

No mate, not heard anything of that nature in the office this week bud.

However, I know who you’re talking about and a fair few of the execs haven’t been seen in SIWH this week mate, so that could make some sense and add some weight to your story. But not heard anything more than is already known.

Just plenty of people in the ELT are incredibly confident that EOY 24 results are still on course for release late next week/early the following.

Like good little nuggets of information like this, keep it coming all.

@beardeddragon - here you go my man. Our SVP of UK Ops.

Simmonite, Martin

Yesterday at 9:58 AM

Seen by 989

Team

I appreciate that the last few months have been ‘bumpy’ for the company and it feels like we remain in the eye of the storm, but I wanted to share an overview of where we are as a UK business. Despite the headwinds, we continue to see strong business performance across our the country – we are consistently providing a strong, safe performance for our clients and are continuing to win new work.

@johnychainlocker

Heard again this morning that there’s “growing confidence” for later next week for the EOY figures, failing that early following week.

Imagine word gets round the office pretty quickly but the mood around the office is certainly more upbeat. CEO out the door would be the icing on the cake for me.

Rule of thumb here people.

If the poster is Bob, it’s guaranteed to be hot off the press 🤣🤣🤣.

@slonkyalice

Word in the office is late next week/early the following week. Remains to be seen if that’s the case but would align with Sidaras date for a formal proposal.

@captainswag

You are another balloon spouting utter nonsense with absolutely nothing to back it up?

Is it cause you’re carrot and doggers burner account?

@rock

Stop posting. That is eye bleeding stuff right there.

@carrot

That’s a great story. One for the ages.

Got anymore that anyone cares about? 👀👀

@robert and Falcon

Hopefully chaps.

Everyone seems incredibly more chipper and upbeat this morning so hopefully this is the kind of news which allows the company to self-heal and kick on.

Excited 😍😍

@falcon

Aberdeenandy has got a bit more detailed feedback than what I’ve had in the last couple of hours.

Been told reorg is being done aggressively which has to be to appease the lenders/financial institutions confidence to allow restructuring to take place. @icecool and myself have called it from a few weeks back now how this would happen, if that’s the case we’ve been spot on and the company can continue with new leadership in place and operate out with a derisory 35p takeover.

Still early days though chaps, all to play for but if Ken Gilmartin is removed with some of the cancerous board around him, you’ll start to see this picture improve at quite a good pace.

I’ve always maintained I didn’t think it would be sold. It’s an incredibly robust and successful company in its own right, hopefully these are the shoots of what us longs are looking for.

@laura

Haha, okay so not a fact then. Glad you agree.

No conditions have been met yet, no bid has been formalised, nothing, nada.

So have your opinion, but don’t say it’s anywhere near fact based when it’s not!!

@laura

Your opinion only. Stop talking as in it’s a fact. Sound absolutely silly doing it.

You’ve no clue more than the next person I’m afraid.

@laura

Stop making bold statements with absolutely nothing to back it up please. You can’t say that with any certainty whatsoever. Stop being silly.

@luca

Had to be literally re-engineered to fk in Norway mate. Put together nice and cheap in China and wouldn’t have liked to have seen the final bill when it got towed out to sea.

Made up exceptional ground with first oil and gas though. But as with any new asset, getting everything working sequence is proving a real challenge. Least got to see some of Norway from it though.

@surin

PFC is Petrofac. Similar case to Woods position in some aspects. Unfamiliar with HARL.

Wood has plenty of competitors in the sphere they operate in. See Fluor Corporation, they supported Shells Penguins FPSO in Haugesund when I was there, global reach also like wood.

@yorkshireblues

You’re bang on mate. As per below

Next Steps

This remains a proposal at this stage, subject to a formal offer from Sidara (if received) and several pre-conditions must be met before an offer can be finalised, including:

Agreements with Wood’s lenders to extend and amend existing debt financing facilities

Completion of Wood’s full year 2024 audited accounts

Unanimous recommendation of a possible offer by Wood’s Board of Directors

Final approval by Sidara’s Board of Directors

Completion of Sidara’s due diligence

@rock

Fine to have an opinion, but nobody knows if there’s nothing else on the table in terms of rival bidders or refinancing the company, so again it’s all just guesswork. No bidder on planet earth reveals there hand at this point until the finances come to light. It was the same when Apollo came out of absolutely nowhere with a potential offer, no different this time.

I’ve got my position, opinion won’t change it now I’m afraid.