Member Info for Dazpink

Kendo, didn’t the asset sales recently raised $200 million

Great post bandit1, agree with everything you have stated.

Kando

* If the whole board are unceremoniously booted and Sidara told to walk, that's unequivocally one of the worst case scenarios for shareholders. All shareholders should be hoping that does not happen.

NOT TRUE , not the worst case for shareholders, Sidara walking away means that the company will continue being a world class company in high demand. It’s expanding its workforce due to increasing workload, especially in projects involving North Sea operations and renewable energy.

* It'd leave a headless and rudderless company that needs to urgently renegotiate the looming maturity of a large debt pile, while still (at least) a year short of generating any positive cash flow; that's already indicated its capital structure is insufficient and needs to quite imminently recapitalize; that's exploring all avenues to recapitalize and stating at the moment Sidara's offer represents the best value against all other options; and with its lenders very clearly reluctant to extend the existing debt or make any further lending available without that recapitalization.

NOT TRUE, strategy is working, changes have been made, best year ever in the Middle East, our third office in the United Arab Emirates (UAE). loads of new contracts also globally. Debt is not due until 2026.

* Other less favourable forms of recapitalization include a rights issue (would all but wipe out shareholders from this level) and debt for equity swap (would wipe out shareholders). And if you don't think those things are possibilities, you haven't been listening to the company nor do you seem to grasp the state of the finances.

NOT TRUE. No plans to raise additional capital by offering existing shareholders the chance to purchase more shares directly from the company at a price lower than the market value.

I still believe that Apollo will return to the table and go for a sixth and final attempt at taking over WG.

Once Sidara confirm offer, apollo had 5 attempts previously, only walking aware after Wood granted Apollo access to due diligence materials which didn’t please them.

This time round, everything is out in the open, the YE results will make reassure them that it is worth returning and take it over for half what it was originally prepared to pay.

At the time of Apollo be interested in WG, Sparta Capital, a London group headed by former Elliott Management fund manager Franck Tuil, went public and called for Wood to launch a share buyback to avoid becoming a takeover target. Tuil said the trading update 2023 “clearly demonstrates the underlying strength” of Wood.

I understand in total it will be several non-core assets that WG sell, primarily to improve financial flexibility and focus on core business areas. Seems very sensible to me for them to do this and focus on what it is good at.

Many established businesses do this, RR for example did this with Direct Air Capture technologies and elements of its advanced air mobility (AAM) segment and also it’s lower-power-range engines business" to Frankfurt-listed Deutz AG

Kando,

Your words

If the company can't raise the capital it says it needs, it may not be able to renegotiate the debt - the debt then matures in Oct 26 - and the company would at that point be insolvent.

Do you really believe that this could happen ? I think not?

It has already started to raise capital, including the recent asset disposals raising $200 million, add in the cost-saving initiatives that will save $60 million and then finally the refinancing options which will not be a problem for a company that has $6 billion revenue.

From ADVFN

We’re rounding off May with some great wins across our growth markets. Here’s the round up:

TSK – awarded contract to Manzanillo CC Block 1 & 2 Heat Recovery Steam Generator. Led by Juan Carlos Velazquez Herraez and Marta Segovia Lorente #energysecurity

bpTT (Trinidad & Tobago) – awarded brownfield detailed engineering & execute phase for Project Ginger.

Shell ONEGas – awarded 1 year offshore & maintenance contract extension for UK Southern North Sea assets.

National Gas Transmission (NGT) – awarded a study into the effects of Hydrogen Blending on Site Safety Systems across their significant UK compressor station portfolio.

Woodside - awarded the Shenzi Subsea assets and Underwater Inspection in Lieu of Dry-Docking (UWILD) inspection campaigns. Woodside also included funds to expand on their global NEXUS database.

Black Sea Oil & Gas – awarded feasibility assessment for repurposing of the Midia Gas Development (Ana and Doina) field in Romania for CO₂ Sequestration

Dogger, your using the exact same words on the forum on ADVFN under your alias dave007parker, very sad individual spending all your time spouting rubbish

Unbelievable Icecool, shocked me when I so it.

At the AGM in June one shot only

Shareholder Questions

The Board values the opportunity to engage with shareholders and welcomes questions from those attending the AGM in person and also from shareholders in advance of the AGM via our website. Instructions on how to ask questions are set out in Note 13 to the Notice on page 7 of this document. Questions and answers will be published as soon as possible following the

AGM on our website at woodplc.com/investors/annual-general-meeting

Recommendation

The board of directors (the "Board") considers all the resolutions set out in this Notice to be in the best interests of the Company and its shareholders. The directors therefore unanimously recommend that all shareholders vote in favour of them, as they intend to do in respect of their own beneficial holdings.

Best interest is for a these directors to be replaced ! except KG if he demonstrates leadership over the next few weeks.

Notice of Annual General Meeting 2025

Notice is hereby given that the Annual General Meeting (the "AGM" or the "Meeting") of John Wood Group PLC (the "Company" or "Wood") will be held at Sir Ian Wood House, Hareness Road, Altens Industrial Estate, Aberdeen, AB12 3LE, UK on Wednesday, 18 June 2025 at 2.00pm for the following purposes:

To consider and, if thought fit, to pass the following resolutions as ordinary resolutions:

To re-elect Brenda Reichelderfer as a Director of the Company.

To re-elect Birgitte Brinch Madsen as a Director of the Company.

To re-elect Adrian Marsh as a Director of the Company.

To re-elect Nigel Mills as a Director of the Company.

To re-elect Ken Gilmartin as a Director of the Company.

To re-elect Roy A Franklin as a Director of the Company.

To elect Iain Torrens as a Director of the Compan

It maybe that the lenders are inclined to want to derisk and demand some lump sum payments

Can’t see this, WG lenders include relationship banks like ABN Amro Bank plc, BNP Paribas, Citi, HSBC UK Bank plc, Lloyds Bank plc, and The Royal Bank of Scotland plc. Additionally, Wood has a five-year term loan guaranteed by UKEF, which also includes KPIs linked to sustainable infrastructure and carbon emissions. Wood has also entered into a new $1.2bn, five-year committed sustainable Revolving Credit Facility with a group of 16 relationship banks, replacing an existing facility.

In addition to these relationship banks, Wood has also engaged with lenders like the UK government-backed TEDG facility.

Happy for Ken to stay, he understands the task more since the audit, as Kano stated he inherited all the issues, any other CEO would have not done anything different.

3 year strategy when he was brought in 2022, changes made, company looking stronger week by week

It seems to me that the company is currently undertaking a strategic repositioning aimed at reshaping for even greater growth.

Delivering extra value for shareholders

Minded to recommend, not accept totally different that was in the RNS

The 100USD million amount is really impressive, I believe it includes oil and gas companies from China operating in Iraq like PetroChina, Anton oil etc.

Spot on Icecool, to add they operate globally, with 35,000 professionals across 60 countries.

Haven’t seen any redundancies from them just ongoing recruitment cross the business to satisfy demand

2 years ago Apollo nearly paid £2.40 for WG.

https://www.apollo.com/insights-news/pressreleases/2023/04/statement-regarding-final-proposal-for-john-wood-group-plc-wood

John Wood Group's 3-year plan (2025-2027) involves a focus on sustainable cash generation, cost-cutting measures, and strategic partnerships, aiming to achieve top-end targets by 2024 and exceed them in 2025. The company is also prioritizing growth in sustainable solutions and Consulting, with a simplification program to drive efficiency and support margin expansion.

The audit highlighted issues, WG dealing with them so will be in a strong position next year.

Sidara walking may be a blessing, Apollo could return again prepared to pay what is was prepared to pay 2 years ago for a business that will be generating huge revenues in the Middle East and Asia.

Fact

https://www.energynewsbulletin.net/operations/news-analysis/4414413/wood-books-usd3bn-contracts-asia-pacific-record

Dogger, creditors come crawling, it’s not some payday loan, lol

Dream on, this is only going up !

Like the comments to deliver at scale for our Middle East Region

Gerry Traynor, President of Eastern Hemisphere Projects at Wood said: “Wood is continuing to deliver complex projects at scale for our clients in the Middle East region, a key strategic growth region. This win with TA’ZIZ is testament to our world-class expertise in downstream chemical facilities and extensive project management capabilities. We are proud to support TA’ZIZ on this significant project for the UAE.”