Member Info for CaptainSwag

“In the meantime, the board and CEO have constantly talked up the business and suggested that they were on a clear path to recovery.”

Despite repeated public assurances that the company was on the mend, Mr Straughen said it was “patently obvious” that no real recovery had taken place – and he criticised the board’s treatment of shareholders.

“This lack of transparency caused what was an outstanding company to be in this horrendous situation, plus didn’t allow the shareholders the opportunity to make informed decisions,” he added.

“Needless to say none of the board or executive have resigned and no doubt they will be claiming it was someone else’s fault and nothing to do with them.”

Agree Robert.

Deal is done.

Sid condition is books..probably wood needs sids money to continue as a going concern.

So they are both supporting each other to get the deal through.

Sid want wood..wood have negotiated 35p for stakeholders.

Anyone coming up with conspiracy theories is just spouting rubbish

Med..personally I thought / hoped wood would be the same thing...how could it go bust? Etc etc

However the reality is that the deo has run it into the ground. There is no coming back from this

It will be sold..game over

Ice you are the real clown on here...trying to give false hope

where is your takeover? new board?

company clearly distressed but you are standing there saying "nothing to see here"

finance all good..blah blah

i have said all along deal is done 35p.....lets see mid may who was right

Sid will buy wood. they won't want it going into a messy admin. they got wood for back of the sofa money.

they have given something back to II...just enough to get the deal through.

it goes into admin - they lose control and somebody else might pick up the bits they want - there certainly could be a bidding war for the profitable bits...and loss of the key staff they want

also wood prob have enough assets to pay the debt

the deal is rubbish cos they have the illusion of paying more to cover debt..when in reality the assets could prob do it

Ice the board will go when sid takeover....prob give them 6 months for a transition and hand over

Tbh administration woul prob give share holders more money

yes the balance sheet looks to be butchered by the review - but i suspect it would still cover debt and pay more than 35p

The problem is the suspension - some people won't want to be trapped in. hence the sell off

reading between the lines it looks like they might get the accounts done by 15th may - the time they have given for the deadline. which will mean a suspension of w 2 weeks or so. much better than i previously thought

there will be money to made buying at this price as the deal will go through. sid want wood group and lets be honest they have got it for a steal. £240m? ffs.

will be interesting to see the price movement up to the 30th ....there will be more selling as we get nearer but the shorts will also close and maybe big boys buy in. no need to do right now as price will get battered further.

for those of us holding- doesnt matter . just switch off

it does make an interesting scenario if someone wanted to aggressively take over and put a spanner in sids offer. however no indication that anybody is interested...come on apollo!!!

the suspension will be lifted just after accounts released..it will be too late to get in then as price will shoot up again in anticipation of the 35p crystallising.

so if you want it - you have until 30th to decide

Ice cool...you really are burying your head in the sand..like you did with your prediction of an offer closer to £2 after the disastrous update. i understand you cant accept you got it wrong. we all did.

wood screwed up good n proper - no lube

at this point there is no indication that a new board coming...

the deal has been done

it just has to play out along a certain timeline which i predicted

extension / suspension / accounts / 35p

wood not being able to complete the accounts on time put hurdles in the way - and possibly contributed to making the offer as low as possible

they have already said in the rns that they need funding - either from selling assets or equity.

they might even need that cash injection to get the accounts signed off for all we know.

the extension was in the rns on monday - it all turned out as foretold.

the fact that an extension was granted on a non formal offer shows it is going ahead.

if anybody important was against it - then it would not have been granted

however i suspect all the stakeholders knew about it last week

The shorter will start closing between now and suspension..as no doubt the suspension will be lifted when accounts are finalised. Therefore can coincide with Sid giving their firm offer

Shorts have had their fun..made money at expense of decent honest hard working retail

My guess is rns will come at 5pm ..deadline time

The rns prob won't change anything on sp.

The market knows what is coming

There will be some retail who still want out..which will keep price down...but some will buy for a quick trade or guaranteed return..shorters will close.

My guess is the rns acknowledging an extension comes at the end of the day.

It has already been granted.

Just all smoke and mirrors.

Sid want wood.

Wood will take whatever did offer.

35p is the bare minimum that wood felt they could get away with. Sid said yes - but you have to jump through hoops

Nobody coming to rescue us.

Sell now at an even bigger loss or wait through suspension for 35p

Ice cool..

If you think that they will feel an obligation to sh ..you are in a dream world of fundamentals again.

They will look after stakeholders and ii...and they think this is the best deal they can do.

Which shows how bad the situation must be..and they are not capable of getting out of it.

The clown CEO Should have been removed long time

Sh are always bottom of the list until needed.

They prob will have enough votes for 35p

But if they don't then you can count on them remembering us .

Wood have told us it is equity or sell assets or combo of both.

My guess is that they won't want to sell assets ..so it would be a huge dilution.

They need £450m so in other words 3x current market cap.

Plus there needs to be a discount.

Who do you think would be buying?

The company then would be private in reality

Beard...the extension is a given

Sid won't give a concrete offer until books are done

Wood have rubber stamped sids offer.

So they have to give an extension

I said this earlier

Extension

Suspension

Accounts

35p

You cane be in denial all you like but that is what is on the cards unless a 3rd party intervenes.

Radio silence..which ice says is a sign of something and I say is a sign that nothing will happen

The 35p has been agreed by stakeholders and large ii

I would prefer to see the company broken up...i think we could get more than 35p per share

But who is going to come in and do it? Nobody

Ice clown..

So now silence is proof of your imaginary conspiracy theory ?

I go by occams razor..the simplest possible answer is the correct one. They have nothing to say..they will take 35p

And write off the losses against huge profits that they made elsewhere

The deal us done...fundamental schundamental...it is over.

It was over the last but one rns...when they owned up to fraud and breaking covenants etc

The company will go onto huge things and do well....

On the back of shareholder losses

The problem is that if you vote

No .there will be a placing to dilute you to hell.

I suspect they will just do a shed load of equity - and can you guess who will buy it?

Starts with s and ends in idara. ???

So in effect they will own it anyway..

If the options were just selling off assets - I would be all for it.

But one way or another they would prefer to shaft share holders

Expect the pr to begin with how great did are..what a fantastic opportunity for wood group..and how there is no alternative

And before ice clown says replace management ..who will take charge of it all?

Oversee the mgmt.

They will have spoken to ii.

they know there might be some resistance from retail - prob why they were happy sp hammered by that rns and expect further communication on how the alternatives are worse

so will need to know ii are on board

i suppose the dream is that it will give time for a potential white knight - but lets face it - very unlikely

The way i see it.

extension will be granted until such time as accounts are ready

we will have to go into suspension - a technicality until accounts finished.

sid know the outcome of the review - which will affect historic accounts.

they also know how much funding is needed

so the 35p is set - wood will recommend - sure they have run it through stake holders and II

it is just gonna be a pain waiting - 6-8 weeks i reckon...with no access to your money

people either sell now or get 50% extra