Member Info for Hosai

It's a slightly bizarre situation when the shorts main argument is the stock is too undervalued to be bought out.

Isle do you think FT was wrong in its initial piece which I believe mentioned Wood had considered options such as asset sale but would prefer selling the group whole? As it doesn't seem to chime with your reports.

Thanks Isle, I can agree on the fundamentals however I also think quick certain money such as an offer at £1 is nothing to be sniffed at from here as one can then deploy the cash into other undervalued shares.

I would find it surprising if Sidara didn't make an offer considering clearly were very interested in the summer and have come back so quickly. Even if Wood do not accept they would have to report the rejected offer. I also wonder will activist investors such as Sparta be pushing for a deal (even if they believe it's undervalued it is quick and certain money and would ease any uncertainty (even if small) in regards to the bears arguments.

Hi Isle, could I ask if you heard any more from your contact?

Well your first post on Wood was on the 14th Feb valantines massacre day, I can't help but be cynical.

I'm sure they can argue £1.50 or even above £2 on fundamentals however you can't ignore where sp current is.

It's a question of quick, certain money versus a longer wait for more money but more uncertain (and obv with quick money you can re-invest in other shares).

Therefore on balance I think if a deal it would be around £1.

Nice to see Frank Tuil of Sparta still holding over 4%. He is very well known in the city and FT describes him as "one of Europes most feared activist investors".

"Go on the wood website for RNS and see date of 20th May 2024. The form 8 does not indicate anything regarding an offer it is simply practices required by the FCA."

Fair point, then again Wood did reject the third offer on 24th May and Sidara made new offer on 29th so may not be nothing at all, does show the talks are ongoing/have not stopped.

" Extension looks very possible or quite likely."

I don't see why, FT implied Sidara wanted to move quickly.

I don't see why those paragraphs imply Apollo coming back?

Not that it means that much but I understand Sidara also did the opening disclosure declaration back in May 2024 during the 4 offers period - https://www.investegate.co.uk/announcement/rns/wood-group-john---wg./form-8-opd-john-wood-group-plc/8347236

However, it seems they never put this on their website news (when you look back through past updates) as they have done for the latest 'opening position disclosure' which was put up yesterday, unless they have since removed these past disclosures from 2024 from website? - https://sidaracollaborative.com/news

Mine looks normal

This is the equivalent to the "noise" of someone here posting a bid price, totally meaningless.

I don't think the index makes much difference, or at-least is already priced in. I've been in shares previously either about to leave or enter the index with mb posters pointing out the dates as positive or negative catalysts but then once getting to the date no significant change in sp occuring.

"Well it’s certainly good they are still talking but you’ve got to admit they are doing a cracking job on keeping any price away from the market - no easy task as more people get involved. Still better to hear it from the horses mouth than rumour"

Yes it is surprising no further leaks when the initial piece from FT seemed to come from a number of sources in the know.

Have you heard anymore snippets Isle since last week when you said the board all had to attend a meeting?

Well I'm not sure that exemption would apply, otherwise it would nearly always apply and the takeover rules would be meaningless.

"They are free to make any offer, there is no limit or floor to which they need to pay over."

There is, under the takeover rules a buyer can only make an offer equal to or above the maximum price they (or their agent) have paid in the last 12 months.

Yes assuming it's not a typo.

We're are that point now where bid news is more likely to leak than last week, but investors are more impatient and likely to sell than they were a week ago when it felt news could come any time.