Member Info for Bob182071

@surin

It’s a confidence in the current regime issue, it’s been that way for the last few months at least now.

No bank or lending institution will look to this current board with any degree of trust or goodwill now. Like Ice has stated many times previous, a wind of change sweeps through the very upper echelons of our company, that will restore investor confidence and then (no guarantees of course) will financial institutions be prepared to refinance or extend credit facilities to the business.

@jenashon

That’s the £64m question!!! Our internal comms teams will probably be gettting drip fed only what’s needed to publish internally via email or via yammer. The silence right now is deafening.

I’ve spoken to quite a few people within SIWH in the last few days mate and the ELT and BoDs appearances are becoming infrequent, which says a lot!!

It’s honestly like a mass conspiracy of corporate incompetence waiting to explode.

@dazpink

Agreed completely. 2025 will be a bit choppy and I’m sure the shareholders and staff could swallow that. No payrises or bonuses this year for us highlights this. Don’t get me started on the CEO/BoD or the ELT, be here all day.

I’m going to remove my standpoint as an investor out of this, but from a staff standpoint nobody wants to see this company gobbled up by the Middle East, I’ve not spoken to one person who even remotely thinks it’s an opportunity. It’s a grift, a chance to break this company up over time and in no way over the long term is that favourable for the workforce. I know a lot of investors see 35p as an opportunity to make money here, but 35p would be an epic source of comedy in the future if this company gets its house back in order, starting with the CEO and getting its figures laid bare.

@jenahson

No, im on the project operations side of the business so wouldn’t like to mislead anyone mate.

I’m fully buoyed on (and respect everyone’s right to their own opinion, as long as it’s respectfully done) by the constant weekly successes the business is churning out. The last few weeks have been almost excessive with the amount of renewals, extensions and framework agreements they’ve achieved. It’s almost every 2/3 days the company is celebrating wins in regions across the world. Middle East seems to be a complete hotbed at the moment, hence why Sidara are probably ramping up interest.

@yorkshireblues

Honestly mate, it’s a horrendous deal for staff. BoD and the ELT are selling it as an opportunity, but Shell and Equinor are currently in the midst of an IJV and all I’ve heard is opportunity opportunity opportunity, when you granulise the situation, people are having to reapply for new roles within the new business, scrambling to update training matrixes to enhance their value to the new business. It’s a joke and should be rejected out of hand.

The company will suffer irreversible damage to reputation if it’s sold to the Middle East. It’ll be broken up into pieces for a quick buck and the profitable bits and pieces will keep operating under the guise of Wood, but that’ll be the point where companies will start to lose faith in the business. The reputational damage for me would be too much to bridge.

@rock

It absolutely is not!!! It’s being sold as that but unfortunately seen this many times. Buying company promises the world (investment & opportunity), gets foot under the table and within 6 months you’ll start to see swinging reductions in spending, parts of the business and headcount in the offshore/onshore teams.

So my honest opinion is it’s not in the best interests of the company from a longer term perspective. This company is an institution, it’s stood up in the face of adversity many times in the past and I’ve absolutely no doubt it could in this instance as well.

You’re seeing plenty of recent success stories laid out in the past week alone. You think O&G majors are handing out extensions and agreements with Wood if they had no confidence in the company? And that’s only O&G, their reach these days is far greater.

So no is the answer, it’s a horrendous deal for staff and being a member of staff I can categorically say that sentiment is shared in the office at SIWH.

How do you know the company is throwing EVERYTHING?

Seems like an unsubstantiated statement with absolutely nothing factual to back it up. Would that be correct?

James, I’d just take no notice my man. Either that or just sit and laugh at his pathetic little jibes.

Let’s be clear he copied something from chatGPT and hasn’t really offered anything else in terms of intellect or something that makes you think he knows what he’s talking about.

Lashing with sweat when I read his posts.

We’re on the move people.

Rockets at the ready.

@jamesoxford.

I think the general impression within the business and SIWH is there’d be a party if this clown was sacked and marched out the building with security. He is a disgrace in every sense of the word. Has the audacity to sit on townhalls saying the companies performing well, he believes in the company and the rest!!!

If only people could make this happen, I’m not even being blinkered here when I say this company could really heal its reputation that he’s currently dragging through the mud. But I wouldn’t trust any of the rest of the board either to be honest, all complicit in it.

FF,

That’s it mate, the part that doesn’t sit right with me is when Wood absolutely shower you with emails to “invest in wood” through the ESP scheme to this point!! Like 14 years of taking money out your wages to cost you from behind. Is what it is, still fancy the business to not accept Sidaras offer imho. Been here 16 years total now. Business is resilient as.

@jamesoxford although I don’t want Sidara deal to go through for the long term health and security of the company, I’ll make some money on my recent long investments but my 14 year long position will lose about 75% if it does.

Swings and roundabouts. Theres always another trade.

It matters to be Robert. I want one more day of rattling like a junkie hoping for a rocket boost on the price 🤣🤣🤣

Suspension will mean loss of enjoyment for a prolonged period of time.

Be amazing if they got it wrong when they’ve put it out to their staff haha. Agreed that about sums up the state of affairs right now.

So sad to see such a great company being dragged into the gutter like it’s currently being.

Fair dos, was just scrolling through my internal mail and found it. Very rarely use it until lately.

Summoned a couple of people in the office today for a chin wag and they think it’s 1630hrs tomorrow, let’s see if that is accurate I guess!

Cmon, let’s be respectful here chaps. Let’s see what tomorrow brings.

Not a huge deal if it’s today or tomorrow………..other than we get another day of action 👀👀

That will be rejected out of hand. Make no mistake about that. If that’s even remotely true.

Don’t shoot the messenger chaps. I’m just going with what some of my fellow longys have been told internally today.

Ice might still be right also. No arguing.

Luca,

Might’ve seen it somewhere online, don’t think it was reserved to email only.

I’ve spoken to some people internally today and they are of the understanding it’ll be 1630hrs tomorrow for suspension as reporting of 24 figures won’t be done for release in time.

Still got another 24hrs+ of action lads haha.

Hey Bud,

Below is an email from Kenny boy.

Publication of full year 2024 (FY24) results

I am disappointed to tell you that given the complexity of the Review and the extensive work needed, it is now expected that we will not publish our full year 2024 audited accounts before the deadline of 30 April 2025.

This means that our shares would be suspended from trading from 1 May 2025 while we work to complete our 2024 accounts. In effect, the share price is locked from the last day of trading and once we file our full year audited accounts, trading resumes from the last price. We will maintain our obligations to update the market as normal during this period.

It’s important you know that this does not affect our ability to keep doing business, it will effectively remain business as usual as we continue to deliver for our clients.

We remain in constructive dialogue with Wood’s lenders regarding refinancing options and will engage with lenders in respect of the timing of our 2024 accounts.

We’re doing everything to assure our future position.