RE: Weekly Wins9 Jun 2025 14:09
@Icecool '@JO you support the board, at this current moment in time and think Ken the answer, yet you haven’t even said anything on the above. The board were already on shaky grounds even before the review concluded. Boards have been replaced for less.'
I have already answered previously. I see Ken taking positive action since the draft Deloitee review was published - that much is clear. I have copied and pasted my previous post (from late May) as below - for me, my opinion stays the same as below:
As an investor, I look to achieve a decent profit every time I invest - I make no excuses about it. The profit margin from the current 18p to 35p is substantial. My buy price is in the very low 20s, so the profit is still a decent return. I am pragmatic about all my investments. I base my opinions on facts, and the fact is that it is clear that Wood is for sale, due to a series of self-goals...that date back many years.
Icecool is is more than clear that you want a new BOD to turn Wood around and push the share price up towards the 'glory days' of £2 plus. Easier said than done.
Further, it is not correct to blame the BOD for all of Wood's woes. In my view the BOD have been misled at various points along the way by senior/middle management (some of whom have now left the company), which has become obvious due to the Deloitee review. For example, 'someone' within the Projects Dept has 'cooked the books' in terms of revenues/costs/margins/profits - that responsibity is with the Projects Dept. Another example, the CEO/BOD does not check the qualifications of its CFO - that responsibility is with the HR Dept.
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.
The BOD have received reports, insights and advice from specialised professionals and it seems to me all agree a sale is the best option. I doubt that a new BOD would come to a different conclusion based on the in-depth information at hand - information that no one outside of the BOD and a select few others have access to...and certainly more information than any of the posters here (myslef included).
To change the BOD now could be an absolute disaster in the making.
Hopefully commonsense prevails and the BOD remain.
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