Member Info for JamesOxford

@AimMaster Read my reply to Carrot as to 85p vs 35p.

'@Carrot You have clear signs of dementia. You posted the same post twice yesterday. I reply now as I did twice yesterday.

'You are dimb. As mentioned my post was made before Woods recent series of car crash RNS releases over the last 2-3 weeks. I now see why no one else bothers to liaise with you. You are as thick as a brick. Jog on.''

@Carrot You have sclear igns of dementia. You posted the same post twice yesterday. I reply now as I did twice yesterday.

'You are dimb. As mentioned my post was made before Woods recent series of car crash RNS releases over the last 2-3 weeks. I now see why no one else bothers to liaise with you. You are as thick as a brick. Jog on.'

@SG2025. You say I am spreading 'gibberish and rubbish'.

Incorrect. I am posting facts.

I just had a quick look at a few of your earlier posts to see how accurate your predictions were...

If you bothered to check my earlier posts, you will see that I anticipated a bidder would appear BEFORE the Deloitte review was completed. I was critised for it. But hey presto! Sidara appeared BEFORE the Deloitte review was completed.

On 24 February 2025, Wood announced that it had received an approach from Sidara 'in relation to a possible cash offer for the entire issued and to be issued share capital of the Company'.

However, as late as 4 March 2025 you posted: 'I am increasingly coming to believe the Sidara bid is increasingly unlikely.' and you provided rather weak (and now proven to be incorrect) reasons as to why Sidara would not make ANY offer!

Wood RNS 14 April: 'The Board of Wood has received a holistic non-binding conditional proposal from Sidara, comprising: a possible offer of 35 pence per Wood share in cash to acquire the entire issued and to be issued share capital of the Company (the “Possible Offer”); a possible capital injection of $450 million from Sidara to Wood; and

Wood seeking an extension of, and certain other amendments to, its existing committed debt facilities.'

Tonight I have posted snippets from Wood's RNS as well as other summary information in order to help others 'connect the dots' that Sidara will buy Wood.

It appears to me that you are incapable of connecting the dots. If you still think as you did on 4 March that Sidara will not make an offer to buy Wood - then that is your call.

I happen to think Sidara will buy Wood. I base this opinon on the RNS releases (which includes the fact that Sidara has completely substiantial due diligence, and the fact that Sidara is in discussions with Wood's lenders over debt modifications etc) and my own research and discussions with other investors (outside of this forum).

@Kando In my experience audited accounts can take a few weeks to 6 months - it depends on the complexity. To be honest, it is like saying how long is a piece of string.

@SG2025 As already mentioned: If YOU want to SHARE YOUR RESEARCH, be my guest!

What's that?

Silence.

Thought so.

@Kando A company can be sold while in suspension.

For example, you assume that Wood will release audited accounts for 2024 then come out of suspension. However, Sidara could have sight of pre-audited accounts (not yet signed off by auditors) and/or waive their condition to see audited accounts for 2024, make their formal offer, which is recommended by Wood BOD, the vote is completed, and payout is completed - all while Wood shares are in suspension. Easily done.

Another example is that another bidder could enter the fray and carry out their own due diligence while Wood is in suspension.

Anything can happen. It is for this very reason, I would rather be a Wood shareholder in suspension, than be on the outside 'locked out' looking in and watching developments from afar.

I am happy enough that Wood is in discussions with a buyer and that buyer is in joint discussions with Wood's lenders. The RNS reveal all - if you look in the right areas.

I have an apetote for risk, but to me, the risk is low, and the Wood-Sidara deal ought to be done at 35p. I will take that any day of the week, and twice on Sundays. Lol

@Sham I have averaged down very nicely since then recently thanks. I have never been 'abusive' to anyone - not my style. My own valuation of Wood has always been 85p (worse case) to 95p (best case). However, usually a premium would be paid by the right buyer due to synergies, cost savings etc. This was all based on 'known' financials at the time. Unfortunately for Wood, a series of car-crash RNS releases over the last 2-3 weeks snuffed out any decent offer by Sidara. As a consequence, Sidara has only offered 35p per share. I have a decent amount invested, so it will be a decent profit for me personally (and other new investors) when Sidara buys Wood for 35p per share.

Of course another bidder 'could' enter the ballpark. It ain't over til the fat lady sings! Lol

@AimMaster Suspension is Wednesday 30 April. So I doubt any RNS will occur until then (maybe a day before). I bet you close your short before then. Sounds like you want to close your short on Friday to be on the safe side regardless of the Wood share price imho

@AimMaster. I'm very relaxed about the probably Wood suspension. It will be relatively short-lived with a 35p per share payout while in suspension. What's not to like?! Very happy indeed. Lol

@SG2025 I did say it was only part of my reasearch and I said I would keep it short and sharp, as why reveal my research etc. with random posters?! I have no desire to complete a 'war and peace' book based on my research as to why the Wood -Sidara deal will happen

If YOU want to share YOUR RESEARCH, be my guest!

Until then (I bet you say zip)...

I note your statement: 'Not doubting the outcome...'. Therefore, it seems we are in agreement then.

Apologies: I mis-read my own notes!

Slaughter and May acts as legal advisor for Wood Group in Sidara's bid. The rest continues as previous...

Slaughter and May is the same law company that advised/assisted Wood Plc with its $1,200,000,000 unsecured revolving credit facility with 16 relationship banks in 2021. This is the same facility that is currently under discussions for debt modifications, and that expires in 2026.

No one will know the 'ins and outs' of Wood better than Slaughter and May, other than Wood itself (presumably) and Deloitte (who recently carried out Wood's in-depth independent review), and now Sidara (via due diligence).

Is it any wonder that now Wood AND Sidara (with assistance from Slaughter and May) are in 'joint' discussions with Wood's lenders about Wood's debt modifications?

Answer: No.

The debt modicfications must be agreed on terms acceptable to Wood's lenders.

Whenever, a company like Slaughter and May is involved at this level, the deal is done to appease all parties i.e. Wood, Siara, and Wood's lenders.

This is a done deal.

@IceCool Believe me, at the top of finance the 'circles of influence' are quite small. Lol

This is for IceCool and any other doubters about whether or not the Wood-Sidara offer will be completed at 35p per share:

I do not make a hablit of revealling aspects of my own research to random posters, but I will on this occassion in order to help provide more clarrity about as to why Wood and Sidara will proceed with the 'offer with conditions' currently on the table.

I will keep this short and sharp. Read, digest and think for yourself...

Sidara's bid has been guided by Slaughter and May, which is a highly reputable law firm with its HQ in London.

Slaughter and May is the same law company that advised/assisted Wood Plc with its $1,200,000,000 unsecured revolving credit facility with 16 relationship banks in 2021. This is the same facility that is currently under discussions for debt modifications, and that expires in 2026.

No one will know the 'ins and outs' of Wood better than Slaughter and May, other than Wood itself (presumably) and Deloitte (who recently carried out Wood's in-depth independent review).

Is it any wonder that now Wood AND Sidara (with assistance from Slaughter and May) are in 'joint' discussions with Wood's lenders about Wood's debt modifications?

Answer: No.

With the above, Sidara is the 'imbedded' bidder. Wood knows this. Sidara knows this. Sidara's advisor Slaughter and May knows this.

Sidara will buy Wood as sure as night follows day. Sidara will not walk. Wood will not walk.

Forget the current Wood share price, which is driven by certain forces.

Connect the dots.

In the words of Warren Buffet: Be greedy when others are fearful.

Sidara will buy Wood for 35p per share while Wood is in suspension.

The above forms only a part of my research. Take it or leave it. If I recieve any nasty comments from anyone (Carrot included) do not expect me to post here again.

All IMO & DYOR

@MIDS1 I can help you with that...

'Dimb is a neologism which is a shortening of the English dimbo. It doesn’t signify stupidity, precisely, more an air of social cluelessness.'

I could have said that Carrot was socially clueless with his comments to almost everyone on this Wood discussion board (other than hos would-be girlfriend AimMaster), but though the word 'Dimb' was more apt. Lol

I sincerely hope long-term holders of Wood can be 'OK' with Sidara's offer of 35p per share. While not ideal, it is the one and only offer on the table right now.

In my view, the Wood BOD (current interim CFO excepted) has mis-led accountants, auditors, lenders, shareholders, and employees alike. Ken has been revealed as the 'Emperor without clothes' and ought to hang his head in shame.

Another potential bidder could be patiently waiting on the sideline. It would not surprise me that such as bidder could be making enquiries to certain stakeholders right now. If this occurs then a short and sharp bidding war may occur between Sidara and another bidder to help drive the offer price up to a higher level.

Time will tell...it ain't over till the fat lady sings!

@Carrot You posted the same post earlier today. I reply now as I did then (at 8.34am today).

'You are dimb. As mentioned my post was made before Woods recent series of car crash RNS releases over the last 2-3 weeks. I now see why no one else bothers to liaise with you. You are as thick as a brick. Jog on.'

@Sham While I would happily take $35 per share, I will settle for 35p per share. Lol

@IceCool 'Again debt doesn’t need to be renegotiated until Oct 2026. Plenty of time to get a new board in place this 450m is for LONGTERM VISION!!'

Incorrect.

Wood's lenders require cash as security to allow/approve Wood's request for debt modifications.

Hence, Sidara's cash injection of $450M (via debt instruments to sit side-by-side with Wood's lenders' own revolving credit facilities).

@IceCool And...

Importantly:

'The Sidara Liquidity Arrangements and the Debt Modifications each require the agreement of Wood’s lenders and noteholders. Wood and Sidara are engaging, and will continue to engage, with Wood’s lenders and noteholders in relation to both the Sidara Liquidity Arrangements and the Debt Modifications.'

Wood and Sidara are working side-by-side with lenders. Wood is NOT doing this alone.

@IceCool Debt modification is being negotiated NOW. Sorry to say, but that is serious. Wood, Sidara, Wood's lenders and Wood's institutional investors all know that.

As a reminder of what I posted tonight...

Wood said it is looking at 'a range of alternative refinancing options' but considers the latest proposal from Sidara better.

Wood said 'Having carefully considered the viability of these options together with its financial advisers, the board of Wood currently believes that the possible offer represents the better option for Wood's shareholders, creditors and other stakeholders'.