Member Info for JamesOxford

@Kando Agreed £50M over 3 three years would help. However, for some reason it appears that the Pension funds will not be released. Not even £1. It does not make sense, on the face of it at least.

@Surin 'So many suppositions...let it all unfold....I don't imagine Sidara, WG Instis, WG Creditors etc. know how it ends...its a negotiation within the protection of suspension, and a very volatile external world.'

The Wood story has many ups and downs and twists and turns. However, this is why this Wood discussion board exists...to discuss possibilities. If we 'let it all unfold' without discussion, then what is the point of this discussion board? It may as well be empty, silent, zzzzz.

@Kandos 'I'd just be happy with the original proposal of $50m released back each year for 3 years.'

It all depends on Wood's lenders appetite towards Wood and it's minimum liquidity requirements. This is what will determine the minimum cash injection needed. At the moment it appears that £250M will keep Wood's lenders satisfied. This can be achieved via Pension surplus and seet disposals. Maybe Wood will announce something of this sort in due course to head off the easy route of a sale to Sidara for a pittance.

@Surin 'JO, are you even sure that the £/$ 250m will be needed?'

You have to ask Wood's lenders that question. I thiink the answer is very obvious based on Wood's RNS releases of late. Lol

@RickEngland The note 2 at the end of the RNS is standard practice. It means even if the Wood roof fall down, Sidara are at the table and can offer 1p. Equally, Sidara can offer £1. Either way, Sidara does not want to leave the table, Wood is Sidara's key to the BIG time. Everyone knows it...except Wood's current BOD.

@YellowRose Ken is a waste of space with a very poor attitude, aka contempt, towards employees and shareholders alike.

If Ken is removed, then Wood will need a temporary CEO. Maybe the current interim CFO...that would be a first...the same person as with the job title Interim CEO & CFO! Then again Edith the Janitor would do!

@Kando Wood ought to be able to access those funds with a dash of creativity.

For example, an 'inter-company type loan' from the WG Pension Fund to Wood for £300M on favourable commercial terms would do the trick.

4. 'Wood remains in constructive dialogue with its lenders and noteholders in relation to certain debt terms modifications under our committed debt facilities as well as the liquidity arrangements proposed in connection with Sidara's Possible Offer.'

This seems to imply that Wood has taken a half step away from Sidara's cash injection offer. All Wood really need to do is uncover an asset or two or three that it can sell quickly for circa £250M cash. In this case Sidara's offer will be treated with the contempt it deserves.

Last sentence should have read as: It was only 12 or so months ago that Wood was for sale for circa £2.30. In my view Sidrara ought to up it's offer to secure the deal or run the risk that Wood and Wood's lenders recover enough confidence to go it alone.

Wood's RNS today confirmed:

1. 'The overall draft findings of the Review were published on 31 March 2025 and the Review is now complete, with no additional factual findings.'

This is good news - no more nasty surpirses in store. Wood's lenders, shareholders, partners and employees will be pleased to read that.

2. 'Wood is continuing to work with its auditor to deliver the FY24 accounts at the earliest opportunity and will update on the timing in due course but the FY24 accounts will not be ready to lay before shareholders before 30 June 2025.'

This probably means that Wood's draft audited accounts (prior to sign-off by auditors) will be shown to Sidara, then once signed be released to shareholders. This will provide Sidara with time to make a formal offer of minimum 35p to Wood's BOD who may be 'minded to recommend' the offer to shareholders. If Sidara wants Wood, it will offer shareholders more than 35p per share. If not, another bidder could enter the ball park swiftly with a better cash offer for all of Wood.

3. 'Accordingly, the Company intends to convene its 2025 AGM on 18 June 2025, prior to the publication of the FY24 accounts, in order to meet its legal requirement to hold an AGM by 30 June 2025 and to conduct other items of business. As soon as the FY24 accounts are available, Wood will request a restoration of the listing and trading of its shares and will, as soon as is practicable, hold a further shareholder meeting at which those accounts will be laid.'

The AGM is a box ticking exercise. As per my opinion under Point 2, Sidara could well make a formal offer for all of Wood prior to listing and trading of Wood shares and while teh Wood share price is 'frozen' at 18p, shareholders are probably likely to accept. If Sidara does not make a play, and instead allows Wood to restore listing and trading of shares then it is very likley that the Wood share price will rise to circa 30-35p in one day based on the fact that all the skeletons are out of the Wood cupboard, and Wood continues to write new business at a fast rate of knots. This will take the Wood share price to circa Sidara's offer and force Sidara to bid higher, or worse still for Sidara attract another bidder to drive the Wood share price higher.

Sidara has played a good long game. However, sometimes, a long game can turn around quickly. The time to strike a deal is crucial. Sidara may not have all it's 'wish-list' completed by Wood, but so what? A great deal is still a great deal...and 35p is a steal. It was 1only 2 or so months ago that Wood was for sale for circa £2.30. In my view Sidrara ought to up it's offer to secure the deal or run the risk that Wood and Wood's lenders recover enough confidence to go it alone.

Wood's RNS link below:

https://www.londonstockexchange.com/news-article/WG./notice-of-agm-and-directorate-changes/17053105

Zephyr full test results could be released tomorrow Thursday.

@dogger69 'James, what happens if Sidara walk away?'

You need to read Wood's latest RNS release. It is absolutely clear that Sidara is at the table and wants to buy Wood. Do try to keep up old chap. Lol

Just when I thought Carrot the vegetable had left the Wood discussion board and normality would return...

@Carrot You are incorrect as usual. I valued Wood at 85p per share and I made this fact known (prior to Wood's recent chain of RNS statements). Coincidently, Sidara's offer valued Wood at 85p i.e. calculated as a cash outlay of 35p per share and $450M cash injection into Wood. In addition, contrary to your statement, I do not follow football, nor do I predict football results.

Indeed naysayers like Dogger69, AimMAster, Carrot etc. are now red-faced as their prediction/wish that Sidara will walk has not occurred...nor will it. Sidara is in for the buy of the century. Everyone knows it. The only negotiation will be around price. It will not be less than 35p, as Wood BOD will not recommend less than 35p. In fact, Sidara may increase to ensure a quick sale, before another bidder enters the ballpark.

Wood's RNS repeat about Sidara still at table, Wood working with Sidara, and still Wood BOD 'minded to recommend' Sidara's conditional offer of 35p etc. ought to mean that when Wood comes out of suspension, its share price ought to re-rate to circa 30p in very quick time indeed to reflect the minimum offer on the table. Easy profit to be made from 18p to 35p: a no brainer really.

@Rock8 you posted as below:

'@Bob182071 Anything worth reporting? Best.' 11.25am 19 May

'@Bob182071 Anything today? Thanks.' 9.21am 20 May

Two days in a row...

@Rock8 Stop badgering Bob - it's annoying and pathetic and desperate. I am sure Bob will post when he recieves updates/news if he so chooses. In the meantime, DYOR.

I was away yesterday and have not looked at any posts from yesterday.

Dogger69 and AimMaster were clearly worng in their prediction (based on their interpretation/analysis of the current situation) when they predicted Sidara would walk away and all will be lost etc. etc.

Based on Wood's RNS, as expected, it appears clear that Wood and Sidara continue to work hand in hand to complete an orderly sale of Wood to Sidara. The RNS' have been very clear and the message has remained the same. It must be that the Wood BOD and Woo'd institutional investors are all 'minded to accept' Sidara's offer, which will be made formal once Wood satisfy their pre-conditions. Itis now just a matter of time.

Sidara knows a bargain when it sees it, and Wood is clearly a bargain. Within 12 months, Sidara's executives will turn Wood into a lean mean profit making machine. Therefore, unless there is another bidder who is prepared to throw their hat into the ring (never say never), that it is highly likley that Wood will be sold to Sidara for 35p per share and cash injection of $450M.

Most Wood shareholders on the register today will recieve a nice tidy profit. Well shareholders who bought in recently will recieve a very tidy profit, and for those long term shareholders who took advantage of Wood's share price at circa 17-18p to average down below 35p will benefit. Obviously, any shareholder who did not average down substantially under 35p will make a loss, which is unfortunate.

GLA

@saxman303 'Not with this cowardly short position'

What short position?

@Poiu 'T'O anytime from tomorrow am. Whenever it does happen i hope we get bidding from more than one'.

No doubt Zephyr will be looked at as a possible takeover target soon as it is cheap to buy with clear and present potential given the initial test results that suggest production ought to be in the top quartile. Further details of the test will reveal all. Personally, I would like to see Zephyr continue its run for longer as the cash flow will increase as production ramps up. Further, there will be a domino effect as Zephyr's production ramps up across its basin.

Don't be too quick to sell the goose that lays the golden eggs!

@Bigsid69 Nice to know. If AimMAsteris not asked out soon by Dogger69 (who at 69 years is to old to remember AimMaster's name) or Carrot13 (who with an IQ of 13 is to dumb to know AimMaster is a female); then, I'll be happy to mention to AimMaster that you are 6.9 inches. Lol

@AimMaster 'People missing out on burberry rise. I'm up 7% imho'

AimMaster you are so behind the eight ball on your 'investments'! I bought into Burberry late September 2024 for £6.10 and sold late January 2025 for £11.92. The difference is I don't brag about my other investments on this Wood discussion board except now as I couldn't help but laugh as you bragged about a mere 7% return on your Burberry investment imho.

You seem to think investors here are only invested in Wood. Personally I have a few dozen investments on the LSE. I am sure others may have more or less...but in any event, I doubt anyone here or anywhere else only invests in one stock at a time. Maybe beacuse you mentioned it that it is you who only invests in one stock at a time imho

Come to think of it AimMaster you also said Pridential was a dog of a share when I mentioned I bought at £6.00. I said it was a bargain and would not drop below £6.00 and you said it would crash further and you hounded me to say so. Looks like your crystal ball was wrong again. Today Prudential Plc is £8.75 with more to come as the US and China relations improve further over time. I will remain invested in Prudential and just recieved 12p per share dividend imho

Also you missed the Valentines Day massacre when Wood's share lost loads...and instead you shorted just before suspension and made a couple of pennies profit...so so you say. I am doubtful of that as your said you 'sold' and closed your short position. However, as most investors know, you have to buy in order to close a short position imho

Seems AimMaster you keep missing the boat...looks like you have already missed the boat with Wood too as you are not invested short or long on Wood, which tells me you have no faith or conviction in your own opinions imho

If you believed your own daily posts on the inevitable 'downfall' of Wood, then you would have shorted Wood with every last penny you could muster. Instead you sit on the sidelines and chirp away and you cannot wait for the Wood RNS to say if Sidara is inor out. All this for a stock you are not remotely invested in. You sound very deperate and are starting to seriously come across as a troll imho

BTW AimMaster has Dogger69 (...69 is his age) or Carrot13 (...13 is his IQ) asked you out on a date yet? You best get your hair and nails done just in case. Lol