Member Info for Bob182071

@solent

Well, simply cause all the shares will be bought by Sidara and it won’t trade on the stock exchange again as the company will be privately owned. That’s why.

Stew,

You do realise it’s got to be voted through right?

Oh no, not a whole 5p a share. How will we get by?

@dazpink

Wouldn’t hold your breath on that mate. He’s incredibly close to Roy Franklin and the guy in charge of the merger at Sidara is ex AMEC and is tight with RF. if you connect the dots well enough, you’d almost say its a carve up.

Stumpy,

Not really the same. In oil and gas, some of the majors take things like supply chain, manufacturing, fabrication etc in house as staff, others operate a completely different model.

It’s always been floated and apache looked at Worley back in the day, but it was in the crosshairs of an impending downturn, so they dropped the idea. It’s strange how it’s always been looked at, but never followed through on it. It’s not a new idea, many companies have actually looked at it as part of merging their core business activities and adding some extra horse power to their existing work streams.

Jim,

Bit of strange thing in the Oil and Gas industry that an operator the size of BP or Shell never look to take a Wood into their portfolio. Having that resource available which adds manpower, expertise and additional engineering service to existing levels would only benefit an operators ability to manage workload as opposed to outsourcing a lot of it.

It’s something that’s always been talked about in the industry, but never actioned by anyone. Seems strange. Thought with some of them merging together of late that it would be considered, but must be something holding them back from proceeding. It’s the same with Worley etc.

He can’t even get the spelling of the company right Gonzo, don’t get your hopes up with these “sources”

Shaml

Hahahaha, already said I’m losing money below £1.20 mate. 15 years of investing will be wiped out for anything below this. Got in at 18p before close, so will stem the bleeding at 35p regardless.

No flinching whatsoever, but I think Graff has a fettish for Blackrock. Look at his posts. 🤣🤣🤣

Graff

Go and stop posting the same nonsense all the time, it’s really boring.

@bigsmoke

No mate, that’s from Ken Gilmartin on our internal emails this morning.

If you think that’s AI. You go right ahead though 👍🏻

Progress on possible offer from Sidara & extension to offer deadline.

Key things for you to know:

Sidara continues to make further significant progress with its due diligence on Wood and work continues on the pre-conditions to a possible offer to acquire the company.

There is now commercial alignment on the headline terms of proposed refinancing if Sidara were to make a firm offer for Wood.

This marks progress on ensuring long-term financial resilience for the company with increased bonding capacity, and continuity and stability for our people and our clients.

The deadline for Sidara to announce a firm intention to make an offer for Wood, or not, has been extended to 5pm BST on 25 August 2025.

Unclear on some of the financial terms? Read to the end for some explanations.

All,

Today we announced an update on Sidara’s possible offer for Wood, as well as an extension to the deadline for Sidara to make a firm offer to acquire the company.

As a reminder, Sidara’s proposal, as announced on 14 April 2025, includes:

A possible cash offer of 35 pence per Wood share to acquire 100% of our share capital

A possible $450 million capital injection from Sidara. An initial $250 million would become available if shareholders were to approve a firm offer for the company.

Sidara continues to make further significant progress on its due diligence and we are continuing to work together on the pre-conditions to the possible offer, including in relation to the proposed refinancing of our credit facilities and the audit of our 2024 financial results.

We are pleased to share there is now commercial alignment with Sidara and our lenders on the headline terms of proposed refinancing if Sidara make a firm offer for Wood.

It is expected to involve:

An extension of our committed credit facilities to October 2028, the majority of which are due to mature in October 2026.

New committed bonding facilities to provide Wood with significant bonding capacity to meet our operational requirements.

These new facilities, together with Wood’s existing committed credit facilities and the initial $250 million capital injection from Sidara, would strengthen our financial position, support long-term growth, and ensure continuity for our people and our clients.

We are working to secure support from all of our lenders on the implementation of this proposed refinancing. This proposal remains subject to finalising the terms, detailed documentation and necessary approvals.

We have also reached commercial alignment on the headline terms of an alternative arrangement which would take effect if Sidara’s possible offer for Wood did not proceed. This would provide a stable platform for Wood to develop and implement an alternative refinancing option, should it be required.

As a result of the important work that continues on these matters, the deadline by which Sidara must announce a firm intention to make an offer, or not, has been extended to 5pm BST on 25 Augu

@dazpink.

Means absolutely nothing mate. Wood have just lost the TARS/outages contract with BP across the globe. That partnership agreement ain’t worth the paper it’s printed on.

Believe they still supply some engineering services etc still, but they’ve lost huge chunks of the BP business across the globe.

If you listen closely enough, you can literally hear shams arsehole flapping about like a maniac.

Cmon Sham. We were just happy with the RNS yesterday, you’ve came on full doom which almost guarantees you’re short. Lighten up 👀👀

@poker

Are financial covenants and debt covenants the same thing as you seem to be alluding to? Simple yes or no will do.

Hahahahahahah.

Sham, come on. Admit you’re on the wind up. It’s time.

@sham

Show me where it say they’ve breached the debt covenants please? I don’t want your hearsay, make a statement, surely got the evidence to back it up?

@shaml

Can you provide where they’ve breached their debt convenants please? Must’ve missed that part somewhere.

@shaml

Go and delete your last message man. That is embarrassing reading that.

Telling other people to learn a thing or two after writing that nonsense, wow. 😬

@lowerrisk

Absolutely not. This is a British institution we’re talking about here.

I’ve got friends that used to work for CNOOC and the reason they left is cause the Chinese flooded the office in Aberdeen and it was littered with additional red tape and shenanigans waiting for approvals etc. That’s also one of the reasons why Repsol took years and years to divest from Sinopec.

Wood should be staying as a British institution. It doesn’t need oversees ownership.

@stumpy

I’ll always maintain my position that I’ve got a gut feeling this company will stay stand alone and will do what it takes to get there. I know people hold opposing views and I respect that, but today I can see light at the end of the tunnel, they took their time. Maybe kept the release of it to counter that FT article coming out yesterday.

Ice had said it was a doom mongering last ditch attempt for Sidara to paint the picture of how bad things are and try push a deal over the line, hard to argue at the current time.

Let’s see what the next week or two brings, hopefully some figures by the grace of god 🙏