Member Info for Brookkers

The planets are literally all aligned … good sign 😬

Plus ... any tariffs will be paid by / passed through to Wood's customers as Wood is basically selling services only ...

@Bigw77 - I heard that comment too - a car crash comment on an investor call ! The question about confirming the return to FCF would still happen in 2025 was also ducked - another gulp ..!

Revenue down, debt up ... this is like watching a Labour budget

New CFO appears to have given the accounts the kitchen sink treatment - $815M impairment on legacy goodwill and intangibles + $140M of EPC write-offs ... total $995M taken off the balance sheet.

Neil - you are spot on - this is the text from the CA #583:

583.This section replaces section 366 of the 1985 Act but will apply only to public companies since private companies are no longer to be required to hold an AGM. Where section 366 required an AGM to be held each year and not more than 15 months after the previous AGM, a public company will now be required to hold an AGM within 6 months of its financial year-end. This new requirement is intended to ensure that shareholders have a more timely opportunity to hold the directors of a public company to account.

I didn't know there was a guideline in the AIM Rules for timing of an AGM.

I thought the 15 months comes from the expiry date of the Resolutions passed at the previous AGM - giving the Directors various authorities e.g. to issue shares etc. - commonly set to expire 15 months from the date of the AGM.

Then 21 clear days back from Friday 25th would be Thursday 3rd Oct ...

Re the AGM timing, the Companies Act standard requirement is to hold an AGM within 6 months of the accounting year end ... but not clear what the requirement is if the Annual Report has been delayed.

The 15 months comes from the time limits of the resolutions from the previous AGM - normal company practice seems to be for resolutions to have 15 months validity presumably to allow for the possibility that the next AGM may be more than a year later.

Counting 15 months from last AGM ... would be Friday 25th Oct 2024 ... ?

It’s a UK company you goon

It won't be Wood - they are negotiating a sale to Sidara ...

Seems that Wood are being sold to Sidara ...

https://www.heraldscotland.com/news/24369134.scottish-giant-wood-opens-door-middle-east-takeover/

Yes, right it was signed as an option but not taken up.

That whole statement about MT being advanced to production etc does look to have moved on from previous 'do nothing' status ..?

Is that news?

" ... EPCF contract signed with Sinosteel ..."

2.17 to buy

12.5 to buy

Sorry !!! Wrong board. Apologies

What debt exactly??

Morning @Nelson

Simple answer (Occam's razor) would be that they are looking to maintain revenue in order to avoid running out of money ... which would be curtains.