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Hi All,

According to all the wording and everything I am reading/ hearing - it seems to be a mixed message...

So is this a done deal at 30p without any shareholder, especially general public?

I personally think they way they are making Wood sound is like it will drop dead tomorrow, which does not seem to be the case. It seems more like a scare tactic for us to close out Wood at extremely cheap. Moreover, we need an independent investigation in to who in Wood was responsible to falsifying the true position of Wood over the many years.

Investors make decisions based on information, which is true in my case, so if false information was what we had, then the SALE of Wood needs to be completely frozen. Also, I think the main aim is to just take it off UK Public trading, because it's not like Wood is just going to get up and leave from UK - Sidara want it to trade without being listed, as the company value will increase, and therefore, WE the shareholders will get what we rightfully deserve!!

As shareholders who clearly believe there is a significant level of corruption and cover-up by BoD and anyone else involved, are we not allowed to request the FCA or any other Authority to stop/ freeze the takeover until we have the results from an independent and thorough investigation?

This is why Wood and Sid want to rush and make it look like they company is really bad - yes they made it bad, but that is our point, why have they destroyed the company for it to be worth on millions when it was worth billions!!!

How can Wood be worth 30p when it was worth nearly 10 times just last year?!!

Swingman - I think you are 100% right. I guess is the delay in accounts is to allow the sale of Wood on extremely cheap so ONLY a small group of corrupt L-lifes can benefit while keep Wood from listing again.

The fact they declined offer after offer nearly 10 X what is on the table now, needs to be looked at. It was ONLY done to make Wood cheap, and I am 100% sure the Sid will pay them under the table for the cheap company sale!!!

Is there any Class Action group formed to take action against the Board and anyone else involved in dragging Wood to the ground?

BlackRock has a lot of weighting on this take-over; holding c.5% (35m shares) - let's hope they challenge this nonsense offer.

Well said, burgeseb!!

100% - only Wood and Sid BoD have everything to gain from our losses!!!

Can we all please demand a decent price.

This 30p is nonsense!!

The current BoD are clearly in on a scandal to take cheap shares and made under the table deal with Sidara.

Why else is all this happening?? Look how many times they declined amazing offers, yet they knew the company 'wasn't good enough to last'. But now after breaking the company to the group they are happy with 30p.

I am sorry but we need to stop arguing with ourselves and take our frustration to those that need to be held accountable - the BoD have done this and its only because they have a major gain and will happily put us at a loss of millions!!

I say the above with respect.

Is it true that, as long as Sidara do not get more than 90%, then the current shareholders will NOT be wiped out?

I believe this is why the are adamant to get the entire portfolio?!

So as long as enough public shareholders reject the 30p or whatever nonsense offers on the table, and we can keep more than 10%, then we won't get wiped out with thousands of losses.

Can someone confirm this please?

It's clear the BoD are total f-ups like those from Petrofac, and trying to get rid of the mess they created as it's not a loss on them?!!

Hi,

Can anyone share details of anyone or groups taking legal action against the Board?

The 30p is absolutely ridiculous considering the same board rejected Sidara offer of £2.30!!

Earlier bids included a $450 million capital infusion, which could fund growth, acquisitions, or balance sheet repair.

Now the same board is saying the company is worth only 30p. There is clearly a case of corruption here, as they intend to REMOVE ALL PUBLIC shareholders at a total loss, while they will easily re-list it back on markets at £2.00 plus.

Shareholders need to join up and put pressure to get to the bottom of this before its too late!!

Hi,

Question - please can anyone confirm that would happen to the existing shareholders with shares in Wood, based on the current deal?

Considering there has been a massive drop in share price, it would be ridiculous for Wood to close out existing shareholders at major losses.

Wood group management don't have a clue on how to run business (just like those Petrofac lot), the Board should be sacked with Sidara should not punish existing shareholders for management mistake. We should be allowed to let our shares become what they can in the new company - Sidara!

About time we saw Kodal take flight again. I was wondering what is suppressing this one for so long.

I hope it will get to the 1p mark again in the near future!

Thanks for sharing Veteran - I am watching. Samsung and Saipem desperate to try and ruin PFC just for a few pennies!

What is it with these engineering companies that seem to use useless management. It like PFC, they dont have a clue about basic numbers or how to do simple cash management. You would think Engineering attracts smart people but these are complete F-D-Heads who needs to get sacked!!!

The debt for equity has probably made thousands of people sell, most likely at losses.

They claimed D4E was likely yet they seem to be telling a new story each time!!

Currently 9.58% - reduction from yesterday.

Thanks, Ivor.

I think they could have done a lot better job with the end of year reporting, because they have put so many conditions (with repeat wording), and most conditions are interlinked AND also with singular domino effect - which is where people and institutions can get very annoyed. I had to read it a few times to try and see if there are hidden messages.

I don't know about everyone else, but this D4E is what I think has made most PIs/ Market nervous/ angry and that's why we are in current trading range. If there was someway to avoid this to be even on the table, then I think we would be back to 20s and maybe even 30s after trading had resumed.

According to what PFC said, the FR plan will pave the way for the future - due from July 2024, and to be implemented post September 2024. So, as long as they can manage the cash for now, then in July they need to land that big bang saying "we mean business and this is how PFC will rise from this".

I think Friday's payment has been made based on what they said, and where PFC can avoid giving out information, they will do that as that is what they said they will do. I also think because Investors are on their case when no news and especially the constant poor or worded news, they can't handle IR matters - not our fault.

From what I understand the payment on Friday was expected as BAU, so no news or RNS is technically required, but given where PFC are, I think they should. BUT if missed it would have be announced with implications - normal news or RNS or both depending on the gravity of the situation.

The other matter for Friday 14 June was, key contract Guarantees - were those secured and is the client happy.

What is that Aiden guy doing - he was hired for a specific job - bring PFC back to doing business like everyone else.

I am 99% sure there is a buyout, but I am just not sure how it will impact PIs - will they leave the terms fair basically.

No worries Seeker.

Honestly, speaking I wouldn't be surprised if they have been declining offers and best options as we can see just by how we have got here, it didn't happen over night. It has happened because of failure to recognise continuous 'alarm bells' and NOT taking the right action.

That said, I am fairly certain that who ever makes offer now (or perhaps in the past) and got declined would be having a FIELD DAY with the posting such news everywhere! Especially, IB and Funds.

They love to show of their technical expertise on how to analyse business and where business (management) is getting is wrong. So therefore, if there were any, it will come out along the lines of "We told them, we warned them and hell we even made an offer to them, and look where PFC is now".

The dilution is not targeted at us - it is mainly to have controlling rights over PFC, because those asking for dilution have zero trust and faith so they want to have that protection to be able to make decisions without corporate wall barriers that are currently in place.

Unfortunately, we are impacted as a result. What I would have liked to see what:

1) We want significant control due to current operations of business and management

2) If the above changes, we will reallocate share to current standing.

That would be a direct message to BOD and most importantly, the Markets.

Hi Seeker,

Do you mean 90p per share?

Once again Ivor - I stand with you.

When it comes to people and stakeholders wanting results, who do they look to? The people that have 'controlling rights' - which in this case is Petrofac BOD. This is nothing new and that is why BOD and Executives usually first to go. That's why they are paid much above the average person.

To your point, I was thinking this morning, what we really need right now is an Engineering company that has 1) money and 2) people that can move in swiftly, AND

1) Restore PFC Balance Sheet plus all Clients' Guarantees.

2) Deliver engineering projects with people that get the job done.

I think that would be the best future for PFC; it's a buyout, yes, but also it is about making sure PFC can do what it is supposed to do as an Energy Engineering firm.

The share is a direct result of how PFC has been run, and who runs PFC? Remove the problem (BOD) and you get the result that we want.

Considering BOD have to get advice on EVERY SINGLE action and step they take, suggests they have VERY little knowledge on how to be BOD or Executive Directors. BOD isn't just, tell people what to do and give directions - it's about knowing when there is a problem, acting on the issue and then informing everyone accordingly, ESPECIALLY shareholders - they work for us as primary - that is the standard application of Board.

Only those that don't have a clue what they are doing at that level hide information and let it come out in the end. Any one that says BOD is useless, the evidence is there and I am with them 100%. Yes, I am direct but this is money and business and we need to be real and realise this is really happening. They have been useless for many years.

I do not believe the payment of $29m will announced via RNS, but could be via PFC News/ Updates (the very minimum they should be doing to restore trust and assurance). If there is a default (I'm not sure why since they said they are funded for this), then it will have to be an RNS due to the impending implications - the Markets needs to know.

Again, if payment is made today as expected then it's business as usual and we are likely not to hear anything.

There is one other KEY OBSTACLE that we should try to get to the bottom of today please (if possible) - has the guarantee for that material E&C contract(s) been secured today - the deadline was today?