Member Info for Dazpink

They will be no extension given, DD should be completed on or before 17th April

ShamI89

I disagree whole group, you are over thinking it and making it sound worse then it is

When Dar became Sidara back in Dec 2023, the group which consisting of well established firms became one of the biggest Consulting engineering companies, the strategy was always to buy WG to become the biggest consulting engineering company, the offer last year failed but now back again to this time tie lose ends up. It will happen as these guys won’t take No not for sale

https://www.theconstructionindex.co.uk/news/view/dar-group-becomes-sidara

Sidara’s uk headquarters is 150 Holborn London, all of the brands, such as Perkins&Will, Dar, Introba, Currie & Brown and Maffeis

are housed under this roof, together with the executive leadership team.

WG currently has headquarters in Scotland, could see this being closed and relocated to London HQ once deal completed.

From AI

John Wood Group (now Wood PLC) had a debt covenant, a financial condition agreed with lenders, related to their revolving credit facility, which was initially at 3.5x pre-IFRS 16 EBITDA, but was temporarily amended to 4.5x for certain measurement dates.

Here's a more detailed breakdown:

Initial Covenant:

The initial debt covenant for the revolving credit facility was a net debt to EBITDA ratio of 3.5x, calculated using pre-IFRS 16 EBITDA.

Temporary Amendment:

As part of the sale of the Built Environment business, Wood agreed to a temporary amendment of the net debt to EBITDA covenant, increasing it from 3.5x to 4.5x for the June 2022 and December 2022 measurement dates.

Purpose of Amendment:

This temporary amendment allowed Wood to proceed with the sale of the Built Environment business and maintain flexibility in their financial strategy.

Current Situation:

As of March 31, 2025, Wood is engaged in discussions with lenders regarding refinancing options and the timing of their FY24 accounts, including putting in place pre-emptive waivers under their committed debt facilities.

Recent Financial Performance:

In the half year results ended June 30, 2024, Wood's net debt excluding leases to adjusted EBITDA (excluding the impact of IFRS 16) was 2.48 times on a covenant basis.

Ongoing Focus:

Wood continues to focus on generating sustainable, strong free cash flow and reducing cash drags.

Meant Ken Gilmartin

All on list below are owned by Sidara and all have an independent executive management team led by it’s own CEO and CFO.

I am sure Kevin will still be on board leading WG

*Dar

*Perkins & Will

*TYLin

*Currie & Brown

*Penspen

*Maffeis

*Landrum_&_Brown

*Introba

If Sidara do takover WG, it will become huge overnight with all the main players under it’s ownership.

Wood is a global leader in consulting and engineering, delivering solutions to critical challenges in energy and materials markets. WG provide consulting, projects, and operations solutions in more than 60 countries, employing over 35,000 people with revenues of $6bn

Sidara is a privately-owned global planning, design, engineering and project management group founded in Lebanon in 1956 with revenues of $3.1bn and extensive operations in the US, EMEA and Asia.

Sidara has over 20,000 employees spanning 308 offices and 60 countries worldwide. Some of the industry's most recognizable brands are proud members of the Sidara Group, including Perkins & Will and TYLin.

I am going for an RNS 07:00am Friday 11th April, stating that WG have accepted an offer of £££ from Sidara.

I would rather read the posts and let them waste time and effort trying to manipulate the share price, we all know that these keyboard subordinates are low life scum.

Https://www.energy-pedia.com/news/oman/wood-to-support-petroleum-development-oman%E2%80%99s-future-project-portfolio-199403

The share price is irrelevant to Sidara, the takeover will remove WG from the public company to a private company.

Sidara is a privately-owned working partnership with no external shareholders

Excellent take on it Coldspy, genuine view based on facts and situation.

Same here The crowman, down £61k at the moment, but there is a lot of hope and belief that it will come good one way or the other.

Understand that as long as both parties agree to the extension. However Sidara in my opinion won’t want to prolong it any further as Sidara will have covered everything during this period. WG board will more then likely turn down any request and focus on turning it around in the shortest time possible

Remember the deadline has already been extended by WG from 24th March to 17th April, there will be no further extension. WG clearly stated back up the initial offer with a firm offer as per the takeover code of practice or walk away.

Sidara haven’t walked away after seeing the audit and more details that we don’t have access to.

Rock8

Here's an example, breakdown of the Windward takeover:

Acquirer: FTV Capital

Target: Windward Ltd. (WNWD)

Deal Value: £216 million

Offer Price: £2.15 per share

Premium: 47% to the closing price of 146 pence on the latest practicable date

IPO Price: 155 pence

Windward delisted: Windward delisted from the London Stock Exchange

Deal Announcement: December 2024

Agree OrangeMoon, Sidara wouldn’t insult WG with an offer of 40-60p, £1.20 under current climate and issues around audit review

If the offer is under £1, I expect the following from WG

Having considered the proposal, I expect the response from WG to say something like ‘thanks but no thanks’, the cash component undervalues its "continuing operations and future prospects.

This sits fine with me, prepared to wait until 2026 for full recovery by which time Apollo or Sidara will return again.

Interesting article

Sidara was created in 2023, formally known as Dar Group, the strategy was to takeover established firms that have experience and knowledge providing a greater framework for more impactful collective action on complex and multidisciplinary projects.

Perkins&Will, Currie & Brown, T.Y.Lin, and Penspen were acquired first and then last year attempts were made to acquire WG which failed due to many factors, roll on 12 months and Sidara are back wanting it.

Reading into the formation of Sidara, it was always going to come back for WG which will take Sidara to the next level in its project offering.

https://pressreleasehub.pa.media/article/dar-group---one-of-the-worlds-largest-privately-owned-architecture-engineering-and-consulting-groups---becomes-sidara-7124.html