Member Info for JamesOxford

@Robert Shorts are not screwed. I doubt any shorts bought when the price was 18p or 35p for that matter. It will be winner-winner chicken dinner for the shorts. Although if I were a short I would have closed my position prior to suspension at circs 18-20p.

@Icecool 'There’s no transparency, no leadership, and no credibility left.'

I agree very litte transparency, and that has been a regular feature of Wood's CEO who almost treats shareholders with contempt.

If I were CEO of Wood, I would have already issued an RNS business update prior to the AGM with all the wins, actions, steps taken, and forward predictions in terms of Wood as a company to demonstrate the turn around is well and truely underway to restore shareholder confidence. Then again, common sense is not so common.

@Targa. Agreed. Sidara have spend more time at Wood's table carrying out due diligence, then you've had hot dinners with your Mum.

It would be left field to suggest it, but Sidara may surprise everyone with a formal offer. After all, they need to present one sooner or later. Sidara knows the Wood game inside out and back to front. Sidara has set up road blocks for itself with all its criteria (a deliberate smokescreen to protect itself and to deter other would be buyers) prior to their offer. All of Sidara's self-imposed roadblocks can be removed by Sidara at any time.

Sidara has played the long game, they need to put up or shut up soon.

Institutional investors (and Wood' lenders) may soon be persuaded not to accept Sidara's offer as Ken and co continue to win major contracts, cost cutting, management changes (to mention but a few) etc to turn Wood around. Sidara knows this.

To wait much longer to put out an offer will weaken Sidara's hand...considerably.

@Icecool 'The institutions haven’t even played their hands yet and already it looks like the board’s leaking to Sky in a desperate attempt to spin the narrative.'

Looks more like Sidara (not Wood) has leaked to Sky. However, not much is on the article really, poorly written - and all of which is already known.

The Sky news article is not infomative in any way. Sidara will extend, as it wants to buy Wood.

Sidara has always wanted to buy Wood ASAP, but Wood's series of self-goals made that impossible.

Sidara has largely completed its due diligence on Wood, it now needs to set up to buy Wood in terms of a formal offer, but is concerned on a number of fronts:

Is 35p be enough to persuade shareholders to sell (after all it is a pittance);

Will Wood's BOD be voted out at the next AGM, so Sidara could be back to square one and have to negotiate with a new BOD who may not be 'minded to recommend' Sidara's offer.

Will Wood be able to meet all Sidara's criteria (EG ALL of Wood BOD voting in favour of the offer, accounts etc);

Will another bidder walk into the room and start a conversation with Wood (word on the street is that there is another bidder);

Maybe Wood's lenders agree to debt refinance under commercially favourable terms so Wood can continue on its own.

All of which means Sidara will need to move quickly.

As a left field idea - could be that there are two RNS' on Thursday: One shows Sidara has extended time at the table; Follwed by a second RNS that states Sidara's formal offer? I definately think there will be the RNS that says Sidara will stay, however, Sidara's formal offer is reliant upon certain criteria. That said, Sidara is the buyer and can change its criteria at the drop of a hat if it thinks it is in its best interest to do so. Surely Sidara would have carried out enough research into Wood's finances and operations by now, to know Wood is the bargain of the century?! Of course, Sidara's biggest concern is that it does not enter into a bidding war with another interested party.

BTW It is definately in Sidara's best interest to buy Wood while Wood is in suspension. The BOD can recommend Sidara's offer to it's shareholders, then the shareholders vote yes or no. Yes then Sidara buy Wood. No then Sidara will have to revise their offer or walk away.

Of course if Wood comes out of suspension (once Wood's audited accounts are published), then based on recent Wood contract wins and a further update on a prediction that cash-flow will be positive and coat savings of £X will be made, will send the Wood share price above 35p in any case. That alone presents Sidara with a challenge...how much is enough to convince shareholders to sell?

It ain't over till the fat lady sings!

@Redmore Corporate finance. I am usually quite short on time, hence any typo errorz (pardon the pun!).

@Kandos 'I think it's still a stretch to blame a CEO appointed Jul 22, for a mess set in motion many years before, and covered up by divisional leadership mostly appointed by his predecessors.'

I couldn't agree more.

It is all very well to sack the chief...but what about the indians who feed fantasy numbers to the chief?!

@Redmoor I am not involved in Wood in any way.

I do work as a senior manager in incorporate finance...and before you ask, I am not a Branch Manager at NatWest! Lol

I am well networked, and my friends/collegues have had a few chats about Wood's situation and options. We are all of the same view.

Others with names like Icecool, Woody, Targa123 and many other such assortment of characters have vastly different views and think that Wood can be turned around with a new CEO and BOD and we will all ride into the sunset and watch as the Wood share price leaps to £2 per share.

Persoanlly, I prefer to stay grounded in reality.

That said, Wood has had more twists and turns, ups and downs, than the world's scariest rolloer-coaster!

GLA and goodnight...I'm off to watch the grass grow under the full moon. HoooOOOwwwLLL! Lol

@Jollypaddleboard Noone is 'defending' the CEO. Noone.

Icecool think it would be wonderful to sack the CEO and all of Wood's BOD.

As mentioned previously: The reality is that Wood has looked at finance options and have come to the conclusion that a sale to Sidara (or another bidder) is the only way forward and acts in the best interests of Wood, lenders, employees, shareholders etc.

We are where we are.

The BOD have received reports, insights and advice from specialised professionals and it seems to me most/all agree a sale is the best option (i.e. minded to recommend' the sale of Wood to Sidara).

Personally, I doubt that a new BOD would come to a different conclusion based on the in-depth information at hand, and the experts/advisors all of whom would be at/near the top in their field.

The fact is as shareholders we are not privy to all information, and certainly we are not privy to confidential discussions about Wood's current situation. We do know that Wood is for sale now...to the highest bidder. Roll up, roll up!

In my view, to change the Wood CEO and BOD now could be an absolute disaster in the making.

Everyone is entitled to their opinion, and everyone is right. Lol

Importantly, with Wood, it is never, never, over 'til the fat lady sings!

@Redmoor ' If you like watching grass growing, it puts on it's biggest spurt during the night.'

I am not really interested in your facination with grass and the best times to watch it grow. It may be a full moon tonight, so you could get lucky tonight...and not with your wife...watching your grass grow by moonlight! Lol

@Icecool 'Yet the board, have to get Sidera to negotiate with lenders on their behalf'

Incorrect. Wood and Sidara (jointly) are discussing debt with Wood's lenders for obvious reasons.

@Boxter Two dates:

12 June RNS to say that Sidara is still at the table (and waiting to make an offer for the bargain of the century).

18 June Wood AGM where there will be fireworks galore! Lol

@Dingo1 Your wish may indeed come true. Word on the street is that there is another bidder for Wood. Looks like we will have to wait for Wood's audited financials to be released for all to be revealed.

@Redmoor Are you still here? Sorry I didn't notice. Yawn.

@Icecool It is definately not more of the same. It is clearly obvious that Ken is instigating serious management changes at Wood...all sparked by the Deloitee review.

I say give Ken and co time to work and turn Wood around, or at the very least be in a better position to up the offer/sale price from Sidara and/or another bidder.

You say sack Ken and the entire BOD and the new CEO and BOD will lead the charge back to £2 per share.

I admire your optimism.

However, we will have to agree to disagree.

@Malbrad 'Arguably the company ought to be publishing an RHS about the share price.'

Good grief.

Looks like a number of 'investors' (aka day/week/fortnight traders) here have ants in their pants.

My advice is to relax, and take a chill pill!

@Icecool I am not defending the CEO and BOD. I am pragmatic about all my investments and Wood is no exception. A new CEO and BOD at this hour does not guarantee a series of successes. After all it is you who keeps saying all the skeletons are out the closet now. Therefore, my advice would be to allow the current CEO and BOD time to make the required changes to get Wood back on an even keel. A new CEO and BOD could in fact prove to be a disaster for all Wood shareholders at this point in time. As Oor Wullie would say: "Don't say I dinna warn ye!"

@Woody0101 I am not a fan of the Wood CEO or BOD either. My point is that some of the line managers (executive or otherwise) have not done the CEO and BOD and shareholders and employees any favours at all. It is all there in the independant Deloitee review. However, I think a change of CEO and BOD at this hour could prove to be a disaster for all shareholders. If the CEO and all the BOD are voted out, the result will be very bad for shareholders - it it comes to pass...don't say I dinna warn ye!

@Targa123 Your post on 23 May: 'I'm an accountant and basically they've been cooking the books to keep their jobs and and their bonuses. I shall be making a complaint to the Scottish Police.'

Any updates on your calls to the Scottish police? Let me guess they answered with..."Hello, hello, hello...now, what do we 'ave 'ere then?!"

@Targa123 You are well behind the eight ball old chap. You need to read the Deloitee review, especially the part about Wood's accountants being misled. As for Wood's auditors... Lol