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The accounts should be fully audited and published asap. The FCA investigation only covers from January 1, 2023, to November 7, 2024, I would like them to look at what is going on now to see if any foul play by KG, RF and others who are pushing for this deal.

One thing to remember is that Apollo wouldn’t need to undertake any DD, it already has a good understanding of all the issues that were identified when it was allowed to look at the books in 2023. Apollo will also know the potential that WG offers knowing Sidara are not a white knight but a cunning opportunist.

With the audit complete and everything being disclosed, Apollo could just come in and make an offer based on what Sidara and WG have put out in the open domain.

There are plenty of big contracts to win until end of October, WG could pull out last minute due to a huge contract win that changes everything.

Thought US markets were closed, amazing

Agree Bob, didn’t he used to be chair at Sidara or have I got this wrong ?

Let’s see if he follows the takeover code to allow other bids

The Takeover Code doesn't inherently "allow" other parties, but it does recognize their involvement through provisions like concert party rules, which treat co-operating individuals or entities as a single party in a takeover bid, and through requirements for competing offers that enable rival bidders to enter the process. It also involves third-party consents for information sharing and allows for intervening third-party offers to be considered under certain circumstances, ensuring fairness and market integrity

Aug 29 (Reuters) - Britain's Wood Group has agreed to a 216-million-pound ($292 million) conditional takeover bid from Dubai-based Sidara, the companies said on Friday, ending a pursuit that spanned more than a year and involved multiple offers and rejections

Chairman Roy Franklin, who had planned on exiting the firm once its future direction was clear, is now set to leave following the court meeting on January 7, 2026, when shareholders will vote on the acquisition, it said.

"It is the unanimous view of the Wood Board that this is the best option for all stakeholders," Franklin said in a statement on Sidara's offer.

NO it’s not the best option ! The Bod should have included any other bids will be considered

What’s alarming is that the KG & the BOD couldn’t even be arsed to tell them 35p not 30p and stand ground on this small amount. Hope a journalist investigates and opens up Pandora’s box to see what KG and certain BOD members have been up to over this year.

Sidara are quick to act, it has put it out on LinkedIn already, done deal, loads of photos, key documents just released today

The RNS does not mention allowing any other bidder to enter into talks now that a firm offer from Sidara has been made, has the BOD closed the door to anyone else ? ie Apollo returning to the table

If you invest in shares, you will know that the best returns are earned if you wait, why take 20p now when in 6 months timeit could shoot to £1, crazy

If 30p were accepted WG would be sold for £207m, ($280m)

The disposals of non-core operations this year are $275 million, add anything else that could be sold this year or even next year makes this deal look like the worst deal on corporate history if you take into account the $7 billion pipeline that it generates.

Another good RNS, could be that WG are playing games with Sidara, accounts will look far better than what has been implied.

The BOD may just be sticking to legal jargon knowing all along the business won’t be sold for peanuts

Why did the Bod agree to this? Madness

The Possible Offer was subject to a number of pre-conditions, as set out in Wood's announcement of 14 April 2025. The Possible Offer was also subject to a number of reservations, including under which Sidara can make an offer on less favourable terms, as further described in Wood's announcement of 14 April 2025. These reservations included the ability to make an offer on less favourable terms with the consent of the Board of Wood (which is the reservation Sidara intends to rely on if it makes the Reduced Possible Offer). The Reduced Possible Offer is also subject to the same pre-conditions and reservations set out in Wood's announcement of 14 April 2025 (except that pre-condition (b) relating to the publication of Wood's audited accounts is under review by Sidara).

At least Apollo know now what is going to be put forward, easy win for them to return after 12 months and do a deal that throws Sidara’s offer into the skip.

Remember how a company that is struggling can bounce back to massive highs

https://www.ii.co.uk/analysis-commentary/rolls-royce-rights-issue-all-you-need-know-ii513777

From the Times today.

Ithaca Energy raises production forecasts for second time in year

A North Sea-focused oil and gas firm has raised its production forecasts for the second time this year and confirmed it is on track to return $500 million to shareholders.

London-listed Ithaca Energy reported a rise in interim pre-tax profit to $513.4 million for the first half, compared with $189.4 million in the first six months of last year, as the benefits of its acquisition of Italian oil company’s Eni’s UK assets came through.

Revenue was close to $1.5 billion, up from $841.9 million, while production was equivalent to 123,600 barrels of oil per day, compared with 53,000 previously.

The Aberdeen company has now increased its guidance for this year to between 119,000 and 125,000 barrels each day, up from between 109,000 and 119,000. Ithaca had already increased its forecasts in May following a $193 million deal to acquire Japex UK E&P which lifted its stake in the Seagull field from 35 per cent to 50 per cent.

A further $154 million acquisition, to buy an additional 46.25 per cent stake in the Cygnus field from Spirit Energy, is expected to complete in October.

Yaniv Friedman, Ithaca’s executive chairman, announced the payment of a first interim dividend for 2025 of $167 million, or about 10 cents per share, and plans to pay a second tranche worth $133 million in December. He said that puts the company on course to meet its target to pay $500 million for 2025.

The latest upgrade to production has come partly because of organic growth and strong performance from existing assets alongside the bedding in of acquisitions. The company expects to end this year producing about 140,000 barrels of oil per day.

The company also has a minority interest in the large Rosebank field, which could come onstream in early 2027, and is developing the Cambo oil and gas discovery which lies to the west of Shetland.

Once results are out and WG are out of suspension, does WG really need to sell the business ?

The debt is not an issue, agreements with all loan owners for better terms, this together with a very strong order book and a bright future as many more contracts will be won will allow WG to be cash flow positive and pay off debts quicker than many think.

Share value will quickly re-establish it’s true worth

Missed this article back in June, Equinor and Shell announced a JV and named the company Adura.

Adura will sustain domestic oil and gas production and security of energy supply in the UK and beyond, headquartered at the Silver Fin building in Aberdeen city centre, great location as it’s very close to Wood’s Headquarters.

Securing regulatory approval is now in progress, this shouldn’t be an issue as the Lauch is scheduled for end of this year.

Both Equinor and Shell have a long-standing and extensive relationship with Wood Group currently providing engineering, procurement, and construction (EPC) services for both of the global operations.

As the headquarters will be Aberdeen, you would think that having Wood also based in Aberdeen is a factor in them choosing the location and already having the established relationship with wood will mean huge contract wins for 2026.

https://www.equinor.com/news/20250626-introducing-adura

https://www.shell.co.uk/about-us/news-and-publications/media-releases/2025-media-releases/introducing-adura.html

When the results are released the suspension will be lifted, more than likely we will also receive some big announcement on new contracts won, this together with the carrot of a proposed 35p will in my opinion increase the share price rapidly.

If all issues with the FCA are also brought to a close and finances has been sorted then I can see WG moving quickly to over £1 this will be quickly reached as more good news comes in over the next 3 months.

A lot of news today about BP and its new oil and gas discovery off the coast of Brazil.

BP has stated that it will abandon green targets and scale up oil production.

Murray Auchincloss, BP chief executive, is attempting to “reset” its strategy following its ill-fated push into green energy under his predecessor Bernard Looney. He has ditched radical plans to cut oil and gas output this decade and is instead aiming for production of between 2.3 million and 2.5 million barrels per day by 2030

BP has not given any estimate for the volume of oil and gas in the discovery but Gordon Birrell, the company's executive vice-president for production and operations, said the find was “BP's largest in 25 years”.

The news is a much-needed fillip for BP as it attempts to regain the confidence of investors through a strategic U-turn to refocus on oil and gas.

Maybe worth them buying Wood now or doing a JV