Member Info for JamesOxford

@IceCool I am not parroting a textbook response. I can assure you that lenders (like institutional investors) do NOT want to manage the businesses/companies they lend to. Hence, Wood's lenders will not be prepared to wait for a 'new dream team Wood BOD' to be parachuted in to save the day. It does not work like that. Lol

@IceCool The current Wood share price is a reflection of market sentiment on Wood combined with the fact that not many investors want their funds tied up when Wood enters suspension. So they all want out. I predicted last week that the Wood share price would fall in the lead in to suspension and may have an up-tck the day or two prior to suspension. Therefore, the current Wood share price movements do not surprise me.

I may tease AimMaster about the Wood share price (up and doesn 10% etc) here and there - but we go back a long way. The fact is AimMaster is right...but still needs to close before suspension for obvious reasons. Lol

The only ones who will remove Wood's BOD will be Sidara after they own 100% of Wood.

Institutional investors invest in companies in order to achieve favourable returns.

These same investors are not in the habit nor want to be involved in revolts and/or ousting directors/management etc. Never a great look.

Wood's institutional investors will be on board and will take the 35p. They will take it on the chin and move on to focus on their other investments and potential opportunities. They will not lose any sleep over it. Trust me.

@IceCool Lenders do not lend to Wood's BOD (current or future). Lenders lend to companies (that said, loans to private companies are almost always supported by director guarantess). Lenders will not extend waivers based on 'promises of a new set of Wood BODs, which incidently could be worse than the current set of Wood BODs. In this case, it appears that Wood's lenders want extra cash/liquidity as security in order to allow debt modifications. Hence, Sidara's offer of $450M.

If the above does not proceed, make no mistake, Wood will need to make serious efforts to raise cash quickly. Note the word 'siginificant' in Wood's own RNS, extract below (i.e. the alternative to Sidara's offer):

'The Board of Wood believes that the Company needs to have a more sustainable capital structure, and this requires substantial new capital in order to diversify Wood’s financing sources and reduce its indebtedness over time. Sources of new capital could include a substantial issue of new equity, significant disposals or a combination of both.'

@Rock8 Easy. Different institutional investors have different investment criteria. Some cannot or will not remain invested in a company that enters or is likley to enter suspension. Risk management policies.

@AimMaster You have better odds long than short. Say you buy at 20p: Short it drops to 18p you make 2p. Long and the Sidara sale concludes at minimum 35p and you make 15p. If you stay short you will need to clsoe before suspension or your will be badly burned imho

'The Board of Wood is continuing to work with Sidara in relation to the pre-conditions to an Offer and to agree the full terms and conditions of the Offer. A further announcement will be made in due course.'

Enough said.

Relax.

Some institutional investors cannot remain invested if that company enters suspension...that is par for the course.

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.

Sidara will buy Wood. Deal will be done at 35p. Profit will be banked.

It is as clear as day.

Wood has to accept Sidara's offer of 35p per share plus $450M cash injection...

Wood has agreements with its lenders for temporary waivers that expires 30 April.

Sidara is offering to issue $450 million in cash (via debt instruments) to Wood Group in two tranches to facilitate its ongoing discussions with its existing lenders to extend the deadlines for its debt repayments.

Wood said Sidara has confirmed to it that it has made 'significant progress with its due diligence on Wood.'

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'.

Sidara has mentioned 35p which Wood is 'minded to accept'. Sidara has mentioned bid could be lower...Sidara has never mentioned bid could be higher.

@Carrot As a recent investor I am more than happy with 35p. Very nice earner thank you. Lol

My point is Sidara values Wood at 85p, exactly the same as I valued it a long while back. Why don’t you send an email to the Times reporter and have him retract his statement which also values Wood at 85p. Lol

Sidara’s £450M cash injection is part of their offer. It is cash…not bottle tops or matchsticks! Lol

If Wood was not in such a state then the Sidara offer would have been 85p cash per share 100% payable to shareholders.

AimMaster I would say you have better odds long than short. Say you buy at 20p: Short it drops to 18p you make 2p. Long and the Sidara sale concludes at minimum 35p and you make 15p. imho

@Carrot 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 are delusional. The fact of the matter is that Sidara have offered Wood with conditions the equivalent of 85p per share broken up as 35p cash per share for shareholders $450m (equates to 50p per share) cash injection into the company. This outlay by Sidara is exactly as per my minimum valuation of Wood which is 85 per share.

I am not you bud, never was never will be. Jog on.

I think it’s time you searched ‘lonely hearts’ on the internet and buy yourself a girlfriend, here I’ll flip you a Wood share to help you out…20p. Lol

@Sham Agreed. We do not know how far Wood is along with audited accounts for 2024. As usual with Wood, no predictions, shareholders treated with contempt, and silence is golden!

Anyway I have to head off out now.

GLA (except for shorts that is Lol)

@Thornogson No one predicted or guessed the tragic series of Wood car crash RNS' that have come out over the last 2-3 weeks. All opinions and commentary from anyone can only be based on the information available at that time - my posts are no exception.

The fact is that Wood's RNS of late have had had more twists and turns, and flips and flops than Kier Starmer has had opinions on 'what is a woman'. And it's not over yet...not til the fat lady sings. Lol

@Sham. Sidara will make formal offer when Wood gets its act together and makes available audited accounts for 2024 etc. The ball is well and truley in Wood's court...as usual.

AimMaster I would say you have better odds long than short. Say you buy at 20p: Short it drops to 18p you make 2p. Long and the Sidara sale concludes at minimum 35p and you make 15p. imho