Member Info for bvcxz70

Agreed. That’s how I see it too.

Wood has clearly done the heavy lifting: asset disposals completed, liquidity secured, debt refinanced, exceptional conditions largely cleared and shareholders have voted. From here on it’s mainly process, court sanction and final regulatory sign offs.

If Sidara were wavering, we wouldn’t have seen the interim funding released or the continued commitment to post completion funding. That’s real money on the table.

Barring an unforeseen regulatory hiccup, a Q1 completion still looks the most logical outcome. The long-stop date is just legal padding, the operational and financial pieces are already in place.

MIDOXZ

I think that’s technically correct but a bit misleading without context.

The 1 March 2027 date is just the long-stop date, which is standard boilerplate in UK schemes. It’s a legal backstop, not an indication of expected timing. Almost every scheme has one that’s well beyond the base-case completion.

All guidance from the company and the structure of the funding point to H1 2026 completion, with Q1 still the most realistic window once the court sanction date is set. If the market genuinely thought this could drift into 2027, the shares wouldn’t be trading in the mid-20s.

So yes, the clause exists but it’s there for contingency, not because anyone expects it to be used.

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Well let’s look at it this way, Is it only the Yes vote holding that was holding the share price back? I would say no because the yes vote has only removed the shareholder risk, however the deal execution risk remains.

So then I suppose the question then becomes what are the execution risks?,

1, Regulatory approvals still pending

2, Court sanction hearing not scheduled

3, Financing: Sidara’s new money needs to complete

4, Lender waivers must formally close

I may well be wrong and I genuinely hope it does rocket and a surprise RNS comes out today addressing everything in which case this will just rocket.

All will be revealed.

Whatever happened to it

If icecool sounds arrogant to you, that’s probably just the echo of your own arguments collapsing. All will be revealed soon enough

Ice, I have a question??,

I have long since thought that 30p was a crap offer and I have been here for a while. What would you look to accept if this was being purchased by Sidara or any other rival bidder??

Just waiting for disclosures now, as long as everything is ok then there’s every chance mid November, but let’s see, FCA have a funny way of working

I agree. Just read the message properly, his/her attention to detail as to dates is just messed up, that’s just the simple stuff.

Poker, I think your going to have a coronary, just chill out a bit, Ice has made some VALID points. It will all come to fruition for all to see. In the meantime, could I suggest you check your blood pressure. Thanks

No public evidence of a recent Wood sell-off, just the project transition and a share-settlement arrangement.

I suppose the way to look at it is, if the takeover happens and they are delisting anyway, well then there’s no need to make the accounts public because the only reason they had to go public to shareholders is so they could relist, this isn’t going to happen now but it is underhand tactics, that’s for sure. I’d love to know what they are saying to the ii’s to get them on side

PJS_1

If the majority of shareholders approve, Sidara pays you 30p per share in cash, and your shares are cancelled.

• If the vote fails, the company stays listed (once accounts are cleared and suspension lifts), and management would have to push ahead with disposals and debt restructuring instead.

So this is the “point of no return” resolution, it’s literally asking you to vote to hand over your shares in exchange for 30p and let Wood be taken private.

NO is my vote

Icecool, don’t forget to notice how the vote schedule is tight and deliberate. Why? To get shareholder approval locked down before disposals close and before the market can see the full financial impact. If Sidara and the board really thought the accounts and disposals showed no equity value, they wouldn’t be rushing the timetable.

If I’m honest I think institutions are lukewarm and want to see the accounts before committing to any offer but that’s just my view

The link in this article isn’t working

Mate, I genuinely hope it is, but from what I’ve looked at, unless it’s something really meaningful in terms of an offer, doubt it pal

I think it’s fair to say this whole thing is tilted massively in Sidara’s favour.

They’ve put in a firm offer at 30p, but it’s conditional on Wood publishing clean FY24 audited accounts, passing FCA scrutiny, and lender approvals. Until all that happens, we as shareholders just have to wait to be paid out — realistically not before late 2025 / early 2026.

In the meantime, because a “firm offer” has been announced and the board has recommended it, the company is now effectively locked up. Technically another bidder could come in, but in practice it’s very unlikely given Sidara has lock-up agreements with lenders and is underwriting Wood’s position.

The structure is completely one-sided:

• If the accounts are worse than expected → Sidara can walk away, and shareholders take the hit.

• If the accounts are better than expected → we’re still stuck with 30p, even if the true value is higher.

The board has agreed to this because they were cornered: suspension, nervous lenders, FCA scrutiny, and a very real risk of debt restructuring which could have wiped us out. So they’ve taken the “safe exit” at 30p rather than risk waiting.

Bottom line:

• Upside is capped at 30p.

• Downside risk is still there if Sidara pulls out.

• The only certainty is that shareholders are tied up until conditions are resolved.

Risk/reward imbalance for shareholders

I love being the peacemaker. Call me Trump. If I was the moderator back then this would have NEVER happened

Here’s a potential suggested reply

Hey Icecool, it's Poker Chips.

I've been thinking about our back and forth and I have to eat a little crow here. After seeing the details of the T&D sale, you're absolutely right. It's a game-changer. The sale for almost 15x EBITDA shows that Wood Group has a "Plan B" that is not just viable, but a damn good one. My chips were a bit low on that one.

My sincere apologies for being too quick to dismiss the possibility of an alternative path. My face is currently a lovely shade of red, much like the perfect poker chip.

This is all to say, my view has changed. The board has more power than I thought, and this takeover is far from a done deal on Sidara's terms. Let's see what the next few hours bring.

Onwards and upwards.

Poker Chips.