Member Info for JamesOxford

@Icecool: '@JO 🤦‍♂️ Wrong again. That’s not how the Takeover Code works. Once Sidara tabled a firm Rule 2.7 at 30p, that’s legally binding as the floor. They can’t just let it “lapse at 2.30 and reappear at 2.31” with a lower price, absolute nonsense. If conditions aren’t met, the offer lapses and Sidara is locked out for 6 months under Rule 35.1. They either walk, or they pay up. So spare us the fairytale scenarios. Sidara are boxed in at 30p minimum, and the institutions know it.'

TheDetector has called your misinformation and lies out...pure fantasy made up by Icecool and seconded by Graff! Lol

@Thedetector I couldn't be bothered double-checking (as I am 99% certain that as Sidarra has come this far with Wood and Wood's lenders /advisors that Sidara will buy Wood...and more importantly Wood needs to sell, it has clearly run out of road). So thanks for the fact-check. Looks like Icecool was spinning yet another fantasy...no surpirses there! Lol

@Icecool No one turned up?! So there was zero votes?! You are delusional. Face facts, you were wrong then, and you are wrong now. The only one spreading misinformation is you...Wood BOD sack them all, renegotiate with the lenders, forget what all the professional advises recommend, go it alone with huge debts and poor cash-flow, keep selling off the silverware to make ends meet...Great advice from wannabe Wood CEO Icey! Lol

@Grrraffff You posted: 'Accounts will be 200% BSh-t, spun to support the cardboard and cid narrative. 60p minimum. Several rival bidders waiting to pounce.'

I have read none of that anyway, not in Wood's RNS, not under any news articles or published by any credible investment advisors... You have made it all up! Who is fraudster? Answer Grrrafff! Lol

@Icecool I do not plan to vote as it will make zero difference. I have never made any statement on how investors should vote and never will. Frankly, I don't care which way investors vote - it does not bother me at all. The institutional investors will decide how this plays out. However, I note that when the Wood BOD was due to be voted in, you were up in arms and encouraged all and sundry to vote the Wood BOD out! So it is you, not me, who trys to use this Wood discussion board to influence votes! All to no availa of course...as the Wood BOD was voted in without any hiccups whatsoever. That means either you read it wrong (no surprise there) or no one listened to you (no surprise there) and voted however they wanted to! Lol

Given Wood's BOD has accepted and recommended Sidara's offer to its investors, Wood will work to ensure all conditions are met. I am confident that by the end of October Wood will publish its audited accounts. After that - soon after that...within days, we will know whether or not Sidara is ths lone wolf, or if there will be one or two other wolves who turn up on the scene to attempt to take out Wood! Fingers crossed another wolf emerges who is bigger than Sidara to push the offer upwards!

@Icecool I cannot remember all the details of Sidara's offer and I won't bothe rto check. Frankly, I don't care...its a storm in a tea cup. The reality is that Sidara will buy Wood - I am 100% sure of that...it's just a matter of price 30p at the moment - the institutional investors will determine the price. The rest is just background noise and musical chairs.

@TheDetector It has been some time since I read Wood's RNS with Sidara's offer - work and life moves quickly - so what you say makes sense i.e. if Wood cannot satisfy Sidara's conditions, the Sidara offer lapses. Therefore, Sidara's offer could lapse as say 2.30pm, then at 2.31pm Sidara submits a new/revised offer to take into account unmet conditions to drive the offer down to 25p. I doubt that would happen though, as surely the institutional investors have a bottom, which Sidara cannot breach. We have seen many of Sidara's slight of hand moves, and Wood's also. Let's hope that Wood's institutional investors sit in judgement and play a blinder of a hand. For example, an RNS (after the Sidara's offer is put to the vote and rejected) to say 'Wood's BOD have reached an understanding with most of its institutional investors that although Sidara's offer of 30p has been resoundly rejected, it is likely that the institutional investors would be minded to accept 45p' ...now wouldn't that be an RNS!

@Icecool My mistake 30p is the floor. Sidara would need to walk away and then offer a lower amount after time. That will not happen. Sidara has shown its cards, and is at the table ready to play poker with Wood's institional investors.

@Grrrraff Just because we disagree - you think there is a number of bidders waiting and will offer 60p minimum,. I happen to think Sidara is it and has offered 30p, which will probably be accepted, we may be lucky if we can attract one other bidder. Just because we differ on opinion does not mean I am a Wood/Sidara mole - so stop with your dumb fantasy...it's somewhat tiresome and boring.

@Grrrrraff You carry on with your hopes and wished for another bidder, and your prediction of 60p, so you can recover your circa 55p punt on Wood. As Dusty Springfield would sing...'Wishin' and hopin' and thinkin' and prayin'...' Lol

To be fair, I hope you're right!

As for your 'wish' that I was a Wood/Sidara BOD mole...nothing could be further from the truth! I cannot stand Kenny-biy and his arrogance, smugness, and pure incompetence. As for Sidara, they happen to be in the right place at the right time. If Wood were such a bargain, tell me "Where, oh where, art thou bidders...?!"

It may surprise you Grrraff, but I too want the best possible return. However, unlike you I am not emotionally tied to any of my investments, I simply call them as I see them.

At the moment Wood's own RNS shows that Sidara wins and will be unlikely to pay more than 30p when the Wood share price is a mere 18p. The only way they will pay more is IF the institutional investors vote against Sidara's offer. Alternativey, maybe another bidder will enter the fray...it's a big maybe, but never say never.

Sidara right now is under zero pressure to increase its offer from 30p. We all need to hope for decent audited accounts. If the accounts are worse than expected, Sidara may lower its offer to 25p. If better than expected, the institutional investors may reject Sidara's first offer of 30p, in which case we can expect Sidara to make a second (and possibly final - 'take it or leave it') offer of circ 35-45p. I doubt it will be more as there is no other bidder and the Wood share price is a paltry 18p.

As mentioned, I will be happy if Sidara revises its offer upwards due to pressure from institional investors (I predict 25% chance of that happening) , or another bidder walks in with all guns blazing like at the OK Corral in Tombstone Arizona!

In the meantime, let's all hope for based on better than expected audited accounts and revised debt reduction and positive cash-flow forecasts. That will be the first step to a higher Wood share price for current shareholders.

GLA

Oil prices are about average at the moment i.e. in comparison over the the last 5 years. Zephyr needs to enter the race, not sit on the sidelines waiting, pondering, waiting, testing, waiting predicting, waiting, waiting, waiting...

@ClearViews Sidara don't want to be an investor (passive or otherwise) in Wood, and share profits with others. Sidara want to own Wood and therefore control and management 100% of Wood, and derive 100% of the profits.

@FalconFlyer Agreed. The question is will Wood BOD notify the shareholders if there is an 'expression of interest'? My hunch is that they will. I expect should anothe rbidder enter the fray, it will be within days of Wood's audited accounts being released. The early bird cathes the worm...so far only Sidara has got in early and is pecking furiously at the big juicy worm!

@Dazpink 'Sidara will not walk away after spending time and money getting this far.'

Agreed.

@Icecool No doubt there will be one or two institutional investors who do not vote in favour. The question is will it be enough? Wood-Sidara needs 75% approval. We will have to wait on the sidelines and see audited accounts and the financial and economic outlook/sentiment around that, combined with investor apetite one way or the other. As private investors, we cannot make decisions happen...only cheer our horses on!

@ClearViews 'This is the amount the Wood group board can easily pocket, between 6 or 8 of them, basically they will each be looking to make £18m each at our expense!!!'

How do you arrive at the above conclusion?

@Clearview Good post. The Wood situation is farcical - no doubt about it whatsoever. We now know that Wood's accounts were basically made up by senior mamangement (based on fantasy, not grounded in reality) with particular focus on the Projects Division. The current Wood share price of 18p was reflective of the signs of shenanigans, which as we now know has become worse since Wood's share was suspended i.e. as more details emerge.

There is no easy answer. The only assurity is that Wood will be sold - probably to Sidara for 30p per share. However, as I have already suggested, the institutional investors could (probably a 25% chance) reject Sidara's first offer of 30p, which would make Sidara re-think and offer 35-45p to get it across the line. Or another bidder could enter the ball park with a slam dunk offer in quick time. Apololo is proabably best placed to do this, as they have taken a look under the Wood bonet before. Further, Wood ought to be able to provide Apollo with the same details they provided to Sidara. The only issue is whether or not Apollo would want to buy all of Wood, or cherry pick the assets it wants vs Sidara who wants all of Wood.

We will all know soon enough.

GLA

@MTucker Yes my view has changed recently. I look forward to CH's next RNS. Hopefully it is zero waffle, and serious action plans or steps taken towards production. The tests have been concluded, the funding is in place. Surely, Zephyr is good to go into production? If not, why not? Without a clear and concise RNS on progress made, I will abandon this stock. There are plenty of opportunities elsewhere. That said, if CH's next RNS is positive with clear steps and time-frames to production, I may have the confidence to add more. I have a pretty decent holding in Zephyr and can add significantly, or can sell out completely. It is time for CH to produce the goods...rather than let us as shareholders on this Zephyr discussion room speculate on when production or a sale will eventuate. As Trump says, 'Drill baby drill!'...!!!

To summarise, Icecool is right and everyone else is wrong! Lol

Let’s see how it all plays out. Let’s see if JO is right or iif IIcey is right…

GLA

@Icecool I do not have proof or otherwise (nor does anyone else), but I suspect Wood's recent $60 million loan was under-pinned based on an agreed asset sale. Of course, it takes time for the sale of the asset to be concluded, so an interim loan is often used in business - especially for businesses that have cash-flow issues. The real question you ought to ask is why does Wood need a $60 million loan? Wood has serious cash-flow issues and as we all know debt seriously outweights assets; therefore as a business Wood is unsustainable (as highlighted in Wood's own RNS).

As mentioned 9 extentions says more about Wood than it does Sidara. It is Wood who has been unable to satisfy Sidara's pretty reasonable conditions. In my view, Sidara has waited patiently....very patiently for Wood to get it's act together.

Wood emails to employees is not unusual. I doubt that Wood employees collectively own enough shares to influence any decision. Personally I own quite a number of Wood shares, but I won't bother to vote for the sale, as the institutional investors will make that decision based on the information availabel at that time.

As for Wood BOD trying to save thier own jobs, I think you mean Ken as the rest of the BOD have either left already or have already stated they will resign. My hunch is that Kenny-boy will either stay on in an 'advisory role' for 3 or 6 months, or Kenny-boy will leave immediately after Sidara buys Wood.

Finally, I will continue to judge based on Wood's own RNS and it is clear that the Wood BOD have accepted the advice of several professional companies who specialise in such matters.

In summary, Icecool you can keep up your fantasy, but it doesn't mean the rest of us have to 'buy in' to your delusional rantings! Lol

BTW Extention No 9 has zero to do with Sidara. It is Wood that has proven unable to meet Sidara's conditions in a timely manner - for one reason or another.