Member Info for JamesOxford

I wanted to add to my recent post below (added at the end of this post)...

'My advice is to wait until the audied accounts are released prior to the end of October. Then vote. To do otherwise is to vote blind. To vote blind is dumb.

Let's play this out briefly...

The devil may or may not be in the audited accounts. For JO, I plan to: If the accounts are terrible then vote 'Yes' as 30p is better than 25p (i.e. Sidara's revised offer on bad accounts). If the accounts are OK/acceptable then vote 'No' as Sidara would have to revise its offer circa 40-45p. Another bidder enters the fray before/after audited accounts publisehed, then vote 'No' as a bidding war will commence between Sidara and the other bidder.

All IMO of course DYOR and all that.

GLA'

In the unlikely event that Wood does not publish Wood's audited account by the end of October, and if Sidara says they will proceed anyway, then JO will vote 'No'. The onus must be on Wood to produce/publish audited accounts before investors can be expected to make an informed decision on which way to vote. If audited accounts are not produced before the end of October, then Wood ought not to be sold. IMO

@Graff '2) there will be a rival bid from several bidders' etc.

You forgot to add that none of the rival bidders will carry out any due diligence!

You mean there will be only one bid from several bidders? So what if they all bid 32p each, what then?! Please provide the names of these bidders...this is a simple enough request. I still have a rather large island in the southern hemisphere for sale to the highest bidder who refuses to carry out due diligence! Lol

@RetiredBanker Thanks for the commentary on Wood's events with its share price tanking from one event to the next. Remember too there was plenty of opportunities to swoop in and ponce like a lion and make a killing as the Wood share price bounced back somewhat from its tanks! JO is such a lion in the investment world. The Wood story is not over, till it's over. There is no gaurantee that Wood's institutional investors will accept Sidara's first offer, it may well go into a second or even a third round. This is why we must all wait for Wood's audited accounts, and then vote accordingly.

@RetiredBanker @Icecool That's right Icecool - You tell 'em! Besides there's only room in this 'ere town for one, I say for one banker...and that's JO! Lol

@Graff 'Rival bidders are waiting to pounce.'

Like a lion, stalking, paitent, waiting to strike...then without warning (and due diligence) it attacks! Then the lion screams out "Grrraafff!"...I mean "Grrroooaaarrrhhhhh!"

@Graff I have never said rival bidders will not emerge. But unlike you, I do not think that rival bidders will arrive and 'pay 45p with NO due diligence' - that is simply ridiculous and delusional. I have already said a rival bidder with balls of steel could emerge after the audited accounts are realeased and within only a few days of such a release...Wood and Sidara have only offered a very small window before the vote deadline. Hence I think the chance of a rival bid sits at 10-20% vs Sidara's buy out of Wood for 30p. I am still waiting for you to say who on earth these rival bidders are who have lined up with deep pockets and zero due diligence. I need to contact them as I want to sell them a large and beautiful island on the other side of the world for £250 million - it's called Australia...no due diligence required! Lol

@Kando 'The age of cheap abundance in energy is about to begin.'

Wake me up when it happens! Lol

The fact is that UK Govt is taxing oil and gas companies who operate in the North Sea at 78% and has stopped new issuing drill licences for the North Sea to appease green and left voters. This is economic sabbatage on the UK economy and the oil and gas industry as a whole. Result: Higher energy prices for UK businesses and consumers. Hopefully Reform will be voted in and change policy overnight i.e. reduce corporate tax to a more reasonable level and issue new drill licenses rather than watch the North Sea turn to a waste of natural resources.

We have a difference of opinion. Big deal.

@GRaff 'Rival bidders will blindly & readily offer 45p for this without DueDil.'

Great Grrrrraaff! Where are these rival bidders of yours who are readiy to offer 45p per share without due diligence? Step up, step up, don't be bashful! I'll sell out right now for 45p! "Rival bidders, rival bidders, where art thou rival bidders?" Lol

@Icecool 'Institutions won’t buy fairy tales, they’ll want the facts, something you seem allergic to.'

Nice try! JO allergic to facts?! Lol I only deal in facts...not Icecool's fantasy stories! I already made it clear as late as yesterday afternoon when I posted: 'Institutional Investors will wait for Wood's revised and audited accounts to be published. Then vote accordingly. End of.'

@Kando 'You ought to be livid at natural gas for your bills, but instead you're upset at the 7.4% of your bill that go towards green levies, which includes the warm home discount to keep pensioners and the disabled warm.'

What a load of rubbish! I never said I was upset about 'green levies or warm home discounts'. Do not put words in my mouth. I said my energy bills keep going up and that is all. Am I bothered? No. But there are plenty of families who have to choose between food and warmth this winter. Many pensioners struggle also. The only exception are those illegal migrant who pay thousands to come over to the UK via boat (from the safe country of...France!) with free accomodation at lovely warm hotels and hot food awaiting their arrival!

You ought to carry out more balanced research - away from the 'green energy warriors' and their blinkered narrative...

'According to the latest statistics on international domestic energy prices from DESNZ covering the second half of 2023, electricity prices in the UK were more expensive than in any EU country, whereas gas prices were among the lowest....Now more than ever, renewables are contributing a significant share of electricity generation, but their low cost is not being passed on to households....'

Link to article below:

https://www.nesta.org.uk/blog/uk-household-electricity-prices-rose-to-levels-higher-than-those-in-any-eu-country/#:~:text=Key%20insights%20from%20the%20latest,at%20%C2%A30.07%20per%20kWh.

@Icecool 'I’ve been consistent from day one all I’ve ever asked for is transparency and evidence. That’s it.'

Er, not quite Icecool, from day one, all you've ever asked is that everyone looks at Wood's 'fundamentals'...you recently changed it to 'transparencey and accounts'. Probably because even Icecool could see that Wood's 'fundamentals' were in the main completely 'dreamed/made up' by unscrupulous senior management (especially in the Projects Division) as per Deloitte's findings and the fact that Wood has to prepare new accounts to reflect its 'fundamentals', and entertain the FCA who are also investigating Wood and its 'fundamentals'! Lol

@Kando It's no wonder O&G companies are on the decline in the North Sea. Any business that pays 78% tax would minimise operations...it's simply not worth it. See article below on decomissioning in the North Sea - a natural resource wasted by the UK Govt and it's dumb and expensive green agenda! Meanwhile, countries like China continue to drill baby drill!

https://www.energyvoice.com/oilandgas/north-sea/580638/north-sea-treasury-loss-westwood-warning/

@Icecool 'If the numbers are genuinely catastrophic and 30p really is the best option, fine, I’ll vote accordingly.'

You mean if Wood's audited accounts are bad, you would vote 'Yes'?! I never thought I would see the day when Icecool would pull turn-coat on Wood Plc and roll-over and say to Sidara 'tickle my tummy!' for a miserable 30p per share! C'mon Icecool man up! Where are your convictions?!

@Kandos 'Economics are now driving this transition and Wind/Solar/BESS now have a cheaper levelized cost (LCOE) than Coal/Gas CCGT/Gas Peaker'

For those who do not know: Kandos' description was very narrow and focused i.e. 'levelized cost' is a measure of the average net present cost of renewable energy generation over its lifetime.

In any case, I must have mis-read my energy bills since renewable energy was started on a major scale in the UK. Seems my energy bills have gone through the roof since then to date. Whoever is benefiting from the 'cheaper levelized cost', it does not appear to be businesses or consumers. Maybe I have to wait until the very end of my lifetime (maybe the last couple of weeks) to recieve a 'reduction' in my energy bills. Lol

@Icecool If Wood's audited accounts are good, I know you will vote 'No'...quite rightly too. But what if Wood's accounts are bad i.e major write-downs etc.? How will you vote...Yes or No?

@Icecool Haven't you already voted 'No'?

@Icecool 'Truthfully, how can anyone trust a Board that blows £74m on “holistic” advisors while crying poor and telling shareholders the cupboard’s bare?'

At last we agree on something! Lol

I suppose Wood would put it down to 'due diligence'!

@Icecool I reckon that £60 million is secured in some way shape or form. There is no way any bank/lender would lend to Wood without security of some kind - especially given Wood's current woes. Just saying.

BTW Per the link...the photo of the staff involved...is it just me, or do the 'Associates' look like recent University graduates, and the 'Partners' their professors?! Lol

@Gsei As per your link: 'Akin advised the noteholder group of John Wood Group (“Wood”), a leading British multinational engineering and consulting business, on an amendment and extension of its existing facilities and additional new money facilities in connection with a proposed acquisition of Wood by Sidara Limited.'

@Icecool Looks like the above is in reference and rebuttal to your fantasy claim (over and over) that Wood has secured $60 million independant of Sidara's proposal to buy out Wood. The key phrase: 'and additional new money facilities in CONNECTION with a proposed acquisition of Wood by Sidara' (emphasis added). As JO mentioned earlier, no doubt the $60 million has to be tied up and secured with the Wood-Sidara deal in some way shape or form. Looks like JO was right...just saying. Lol