Member Info for JamesOxford

@Luca Do you have rocks for brains?! You need not worry about JO and his investments.

You need not talk to me (I find you incredibly needy and extremely boring...yawn!), you need to talk to your best mate Icey the Goldfish. You two can have a great back and forth as to the merits of Wood under a 'No' vote. Go for it. First, take a look at TRX Icey's other investment which is in suspension and is out of cash! Then look at Wood's cash-flow position. Then ask for Icey's opinion on TRX (no cash in the bank) vs Wood (under a 'No' vote no cash injection from Wood and Wood's lenders)...in both cases Icey will say 'Nothing to see here...move on...move on!'. Then come to your own conclusion...for once.

@Downagain. Market nerves, and understandably so...

If the vote turns out to be 'No' (due to Icecool's secret 'No' boys-pop-band) the current share price of 21p will look like a dream price next the mass exodus which results in a new/overnight share price of 8-12p!

If the vote turns out to be 'Yes', all and sundry will drive the Wood share price to 25-27p in anticipation of 30p in the first six months of 2026.

But never fear Graff knows several bidders who will ride in at the last minute and offer 60-80p! All we have to do is all shout out to Graff and say in the immortal words of Tom Cruise "Shhhooowww meeeee the moonnneeeyyyyyy!!!" C'mon Graff - you have kept us all in suspense long enough!

Over to you Graff...say wait a minute Graff, you're not a Graff-fraud now are you...???!!!

Graff, Graff, where art though Graff...???!!!

Swishhh...the Graff 'tumbleweed' continues to gently roll down the deserted streets...

Yes indeed Icecool is deep, deep underwater here just like he is at TRX. I do feel a bit sorry for the old/young chap...especially with Christmas around the corner...

Never fear Icecool, the vote will be 'Yes' and you will bank your 30p, which is a far better outcome vs if Wood went at it alone with no cash in the bank, more negative cash flow to come and no Sidara or Wood lender cash injection to bail them out!

@Icecool 'I reckon they’ll shake out the weak holders first, then Torrens steps in to steady the ship, something along the lines of “constructive long-term discussions underway, Plan B active, and the landscape has materially improved.” '

Icecool you are right, if the vote is 'No', the 'weak holders' will leave first in their droves...and then wait until Iain issues an RNS like your other investment TRX that reads: 'It is now clear to the Senior Leadership Team that the Company has a substantial backlog of creditors, and very limited cash balances. Accordingly, the Company has an urgent need to raise capital by the end of November. Without additional funding the Company will not be able to continue to trade.' A simple copy and paste for Iain! Job is a good one! Lol

@stew200 Correct.

BTW If the vote is 'Yes' then JO thinks Icecool should apologise to each and every poster/reader on this Wood discussion room, and include an 'emoj' that shows Icecool putting his head between his own legs and kissing his own butt!

@Axel IF the vote is 'No' Sidara there are NO guarantee that Sidara will offer more. Sidara may offer more i.e. 35p if it really wants Wood for its groth potential. On the othe rhand, Sidara offered 30p BEFORE Wood's woeful audited accounts were published. Therefore, Sidara can wait a short time....and it will be a short time...while Wood digs more of a debt hole for itself and then offer less to investors but more to balance Wood's balance sheet. EG 20-25p plus $500-$550 million cash injection. Or walk away like they have done before. Time will tell...if the vote is 'No' of course.

@Thedetector I cannot be sure about Icecool's buy price at TRX...but I saw Iceccol super-ramping TRX when it was 29p...it is now suspended at 7p! Great work Icey! Lol

@Graff 'They made the mistake of offering 35p. So if the vote is No GO, then they will be back with 35p'

Forget that revised offer of 35p Graff!!! That's peanuts - you have promised us all several bidders will arrive at the last second with minimum 60-90p! Show me the monnneeeyyyy!!!

@Luca 'Please advise what other opportunites there are for Sidara with far less risk.'

You tell me. Lets start with a company that has positive cash flow over the last few days...rather than one with negative cash flow over the last 9 years straight with the latest negative cash flow at -$404 million! Lol

@Icecool Incorrect. If you read Woods accounts fully you would have seen the disposals were already noted.

And the Icecool comedy show continues!

@Icecool 'That clause was written months ago under max-fear conditions before 240m in disposals landed and liquidity was restored. The “recap plan” is already half-done in real time. Try keeping up with the current facts, not the old fine print.'

Icecool - please post Wood's retracting statement that makes their statement null and void. Of course you cannot do that as not such retracting statement has been issued in any way shape or form. If a 'No' vote is successful, Wood will be 'TRX Mark II'...Icecool's worst ever nightmare! Lol

@stew200 Correct. To 'win' either side needs: 75% of votes casted for a 'Yes' to win, or 26% of votes casted for a 'No' to win.

@Icecool JO only deals in facts...

Wood has clearly stated:

In the event of a 'No' vote to Sidara's offer, Wood has stated:

'If the Acquisition does not complete, the Stable Platform arrangements will become effective. In that case, the Company would be obliged to agree a recapitalisation plan under the Stable Platform with its creditors within 30 days. That plan may include restructuring of the Group and business disposals that are reliant on receipt of creditor approval in order to avoid a default under its facilities.'

Need I continue...?

@Icecool You seriously live in fantasy-land with your rose-coloured glasses and several elves, goblins and fairies at the bottom of your garden! You obviously do not understand the seriousness of the Wood situation - it's all there in the financials. Of course, you cannot mention the financials as it's all bad! Instead you focus on a few disposals that were already earmarked and noted in the commentary in Wood's accounts, along with the 'purge' of Ken (no O&G experience) to be replaced with Iain (also no O&G experience) as CEO of Wood. You simply refuse to understand that Iain is no turn-around specialist or O&G guru. Iain is at Wood to ensure an orderly transition to Sidara. End of.

Icecool do you remember your other stock investment in TRX...? Of course you do - it keeps you awake every night! On Friday TRX released an RNS that stated 'It is now clear to the Senior Leadership Team that the Company has a substantial backlog of creditors, and very limited cash balances. Accordingly, the Company has an urgent need to raise capital by the end of November. Without additional funding the Company will not be able to continue to trade.' Update: TRX is sourcing agreement for a convertable loan note! End result: Debt for equity swap, and subsequent wipeout for current TRX shareholders! Well done on your 'investment' Icecool! Well done indeed.

Now fast forward to 17 November with the Wood vote...

Remember those words from TRX's statement. If Wood investors vote 'No' and it proceeds on that basis - as you (Icecool) are 90% sure the 90% 'No' vote will succeed - then it is highly probable that Wood will announce a similar RNS as TRX did within 7 days of the 'No' vote along these lines...

'Hi Wood investors, Iain here...gee wizz, sorry folks, we have realised we have indeed run out of cash, we can't afford to meet our payments, the piggy bank is empty...well we did warn you in our accounts and commentary that we desperately needed Sidara's cash of $450 million and our lenders' cash of $200 million...oh well, gee shucks...to keep afloat, er, um, well, how do I put this, well...we need to search the market for a convertable loan note...so hopefully you don't mind that we dilute you all to within an inch of your life! It could be worse, we could have gone into administration! After all...always look on the bright side of life...de dum,...'.

With a successful 'No' vote Not only is it probable that like TRX, Wood needs cash very, very quickly - within a maximum of 30 days via a convertable loan note...Wood's share price will tumble to circa 8-12p...quicker than you can say 'convertable loan no....'. Oops, too late!

Maybe then, Sidara will rise in once more on its horse to save the day...for the second time...before its too late!

JO has spoken.

All IMO of course.

@Bigsid69 'Do you think Sidara would increase their offer if there is a no vote? Just interested on your take. Gla.Sid'

Good question. Hypothetically: It is a real risk that Sidara will simply walk away. Alternatively, when Wood announce they need cash under a debt for equity swap (after exploring all options of course!), Sidara could come back to the table with 20-25p and $500-550 million cash injection. Then the Wood BOD will prefer to recommend the revised Sidara option over the debt to equity option. That said, there are other opportunites for Sidara with far less risk. IMO

@Tbhatt 'So just to clarify!! Once the result are out if Yes do the share get suspended straightaway ??'

No Wood shares will not be suspended straight away. For the key dates, see my post at 23.14pm 11 November.

If the vote is 'Yes' then Wood has full support of Sidara and Wood's lenders as below:

'Approval of the recommended Acquisition by Wood shareholders will trigger the following refinancing package:

• Sidara has agreed to provide funding of $450 million to the Company. Of this, $250 million will be available to draw conditional upon, among other things, the Company’s shareholders approving the Acquisition at the Company’s upcoming shareholder meetings being held in connection with the Acquisition (the “Meetings”) (the “Sidara Interim Funding”), and a further $200 million will be available upon completion of the Acquisition (the “Sidara Completion Funding”). The Sidara Interim Funding is to be used for general corporate purposes (which includes repayments of other borrowings, other than where that debt has been accelerated);

• The implementation of the terms of the Amendment and Extension, to the Existing Committed Debt Facilities resulting in an extension of their term to 20 October 2028 along with certain other amendments to be implemented following the Meetings:

• the Company has agreed the terms of:

o a committed $200 million New Money Facility which will become effective at the same time as the Amendment and Extension (and which will be used to refinance a $60m drawn facility in full) and the proceeds of which will solely be used to support the issuance performance, bid, surety or similar bonds, letters of credit or guarantees issued by an issuing bank; and

o a committed Existing Guarantee Facility of approximately $400 million, governing certain existing guarantees issued under the Company’s uncommitted bilateral arrangements, which will become effective at the same time as the Amendment and Extension; and

o a comprehensive collateral package comprising guarantees and, where practicable, all asset security which is intended to provide lenders with claims against substantially the whole of the value of the Group in favour of: (i) the lenders under the Existing Committed Debt Facilities, the New Money Facility and the Existing Guarantee Facility; (ii) Sidara; and

(iii) certain other lenders, which will become effective at the same time as the Amendment and Extension.'

A 'Yes' vote ensures Wood can continue as a viable and going concern, fully supported by Sidara and Wood's lenders.

Wood investors receive 30p, which is far better than the rather limp market view of Wood reflected in its share price of 18-22p.

Later today, JO will vote 'Yes'. After all...'a bird in the hand is worth two in the bush'!

@Whatidsaytothat. Agreed.

In the event of a 'No' vote to Sidara's offer, Wood has stated:

'If the Acquisition does not complete, the Stable Platform arrangements will become effective. In that case, the Company would be obliged to agree a recapitalisation plan under the Stable Platform with its creditors within 30 days. That plan may include restructuring of the Group and business disposals that are reliant on receipt of creditor approval in order to avoid a default under its facilities. Additionally, there is no sufficient detail surrounding the business disposals as there are too many variables to consider at this point, including the timing at which point the Stable Platform is triggered, how far internal transformation programs have been implemented, the scope of potential acquirers at the time of disposal and the extent of carve-up of the Group required to execute this. The availability of sufficient liquidity and necessary facilities in this scenario is uncertain. Based on this there is uncertainty with respect to the continued availability of sufficient, appropriate funding.'

AND

'Accordingly, the directors have identified in the absence of the successful completion of the acquisition the continued availability of sufficient, appropriate funding that may cast significant doubt about the Group's and the Company’s ability to continue as a going concern and, therefore, the Group and the Company may be unable to realise their assets and discharge their liabilities in the normal course of business. This material uncertainty is referenced in the external auditor’s Independent Audit Report, Group 2024 Annual Report and Accounts.'

Make no mistake, if Sidara's offer is not accepted, Wood needs to raise cash and quickly in order to continue to operate.

Iceool will be familiar with this story as per his other 'investment' in TRX which on Friday released an RNS which reads:

'Further to the announcement of 22 October 2025 and the temporary suspension of trading on AIM of the Company's ordinary shares, the new Senior Leadership Team has been reviewing the previously announced restatement of revenue numbers for the financial year ended 31 December 2024 ("FY24"), the impact this has on H125 adjusted EBITDA, and the cash-position and ongoing expected performance of the business. It is now clear to the Senior Leadership Team that the Company has a substantial backlog of creditors, and very limited cash balances. Accordingly, the Company has an urgent need to raise capital by the end of November. Without additional funding the Company WILL NOT BE ABLE TO CONTIUNE TO TRADE (emphasis added). The Company is in discussion with its major shareholders and has clear indications of support to raise approximately £5m by way of a convertible loan note. Any fundraise will be subject to shareholder approval.'

If the vote is 'No', Wood must cash desperately aka current Wood investors get 'materially less' (probably 1-5p) or 'zero value'.

@Whatidsaytothat. Agreed.

In the event of a 'No' vote to Sidara's offer, Wood has stated:

'If the Acquisition Acquisition does not complete, the Stable Platform arrangements will become effective. In that case, the Company would be obliged to agree a recapitalisation plan under the Stable Platform with its creditors within 30 days. That plan may include restructuring of the Group and business disposals that are reliant on receipt of creditor approval in order to avoid a default under its facilities. Additionally, there is no sufficient detail surrounding the business disposals as there are too many variables to consider at this point, including the timing at which point the Stable Platform is triggered, how far internal transformation programs have been implemented, the scope of potential acquirers at the time of disposal and the extent of carve-up of the Group required to execute this. The availability of sufficient liquidity and necessary facilities in this scenario is uncertain. Based on this there is uncertainty with respect to the continued availability of sufficient, appropriate funding.'

AND

'Accordingly, the directors have identified in the absence of the successful completion of the acquisition the continued availability of sufficient, appropriate funding that may cast significant doubt about the Group's and the Company’s ability to continue as a going concern and, therefore, the Group and the Company may be unable to realise their assets and discharge their liabilities in the normal course of business. This material uncertainty

is referenced in the external auditor’s Independent Audit Report, Group 2024 Annual Report and Accounts.'

Make no mistake, if Sidara's offer is not accepted, Wood needs to raise cash and quickly in order to continue to operate.

Iceool will be familiar with this story as per his other 'investment' in TRX which on Friday released an RNS which reads:

'Further to the announcement of 22 October 2025 and the temporary suspension of trading on AIM of the Company's ordinary shares, the new Senior Leadership Team has been reviewing the previously announced restatement of revenue numbers for the financial year ended 31 December 2024 ("FY24"), the impact this has on H125 adjusted EBITDA, and the cash-position and ongoing expected performance of the business. It is now clear to the Senior Leadership Team that the Company has a substantial backlog of creditors, and very limited cash balances. Accordingly, the Company has an urgent need to raise capital by the end of November. Without additional funding the Company WILL NOT BE ABLE TO CONTIUNE TO TRADE (emphasis added). The Company is in discussion with its major shareholders and has clear indications of support to raise approximately £5m by way of a convertible loan note. Any fundraise will be subject to shareholder approval.'

If the vote is 'No', Wood needs to raise cash desperately aka current Wood investors 'materially less' (probably circa 1-5p