RE: RNS!16 Jun 2025 19:05
Icecool
As you say, we would love for the restated accounts to portray a rosy picture, but that clearly will not be the case from what has already been flagged. I do not understand why you view JO's expectations as being doomsday - much more likely to be realistic. Even if the accounts prove to be not as bad as feared, I cannot see them being particularly 'good'. That said, 35p feels to be extremely opportunistic. I can only hope that another prospective buyer enters the affray.
I am a retired corporate banker, and can reaffirm the opinion that a dim view is taken of companies that breach their covenants - especially where this appears to be as a result of a measure of dishonesty - or at the very least, overoptimism (being generous). Should Wood have to go it alone, they would find themselves most like;y paying punitive interest rates and raised monthly management fees, IMHO.