Member Info for JamesOxford

Own not earn

@SynGold Sidara do not want to own 75% of wood. Instead they want to earn 100% and take wood private under the Sidara banner.

@SYN00GOLD Good post. Your Point 2 is important...Sidara has looked under the bonnet and is happy enought. This alone ought to be enough to attract another bidder. However, at the moment, it could be in the 'too hard' basket for an alternative bidder. Therefore, the Sidara sale looks the most likley outcome. IMO

Sidara has made no effort to leave the table.

Therefore, as the Sidara deal and suspension draws nearer...

The Wood price ought to drop somewhat as the fact is not many 'investors' will want to 'lock in' their hard-earned cash during suspension. However, this sell-off will be off-set to a degree as the shorts use this opportunity to close their positions. After that, the Wood share price will likley rise a couple of days prior to suspension.

Of course, if Wood provides an RNS to say they are 'on track' to produce the audited accounts for 2024 within say 3-4 weeks from the suspension date and no material effects are expected - then no doubt the Wood share price will rocket, as investors will determine a short suspension period.

On a different note, I cannot help but think that Wood's RNS on Sidara's proposal was released to not only alert the market to Sidara's low-ball offer, but also to flush out any other bidder...

Therefore, it could be that a bidding war breaks out between Sidara and another bidder (maybe Apollo) while Wood's shres are in suspension, and that the only beneficiaries from such a bid war will be the existing Wood shareholders, as the deal is done and dusted while Wood shares are in suspension.

This is just one scenario as to why I say 'it ain't over 'till the fat lady sings'!

This is why I will stay invested in Wood through suspension.

Massive upside here while Wood is 'for sale'.

IMO.

@Sham169 You read my mind! Lol

@Surin Sidara is the natural buyer and has the in-house expertise to turn Wood around. Neil will no doubt head the new Wood under Sidara, which will provide Wood management, employees, partners, stakeholder and lenders with confidence.

A re-structure of Wood is not 'everyone's' cup of tea...and certainly not for the faint hearted.

I always said that Sidara will be Wood's only bidder. I do not see another bidder...they will need balls of steel!

@Surin I was making a point. i.e. too many threads are a pain in the backside.

@Dingo1 Sidara will not leave the table. Sidara will buy Wood in its entirety for a mere 35p cash per share.

The Wood BOD think they are heros for selling ALL of Wood to Sidara - even if it is for a paltry 35p per share...

However, within 12 months, Sidara will no doubt break-up parts of Wood and sell them off to the higher bidder in order to return Wood to significant profit sooner rather than later.

That said, the Sidara deal is the ONLY deal currently on the table.

I know BeardedDragon hates to see new threads for the sake of new threads. I tend to agree.

OK whatever rocks your boat. But needless to start a new thread. IMO.

@Surin As mentioned another bidder can join the fray. It would not surprise me. But they ought to express interest very soon, and certainly before the audited accounted for 2024 are published. Otherwise Sidara will confirm their offer and it is game, set, match Sidara.

@Surin Why start a new thread as JO when the thread is already established under Red Flag? Weird.

@Surin It will pale in comparision to Wood's RNS of '...material weaknesses and failures in the group’s financial culture within the projects business unit and engagement between group finance and projects'. This obviously means serious write-downs in the audited accounts for 2024.

Sidara knows it, Wood knows it, Wood's lenders know it, Wood's institutional investors know it.

However, no one else knows it.

Therefore, Sidara have made it a condition for transparency purposes.

Hope you all had a happy Easter weeekend!

Just checked in here - looks like plenty of insults between a couple of regular posters, and now one or two 'shorters' have joined this discussion board to spread their message of doom and gloom! Lol

@Surin You mentioned 'Red Flag' in the title. More importantly to BOD 'being minded to accept' is the Deloitte independant review which states: '...material weaknesses and failures in the group’s financial culture within the projects business unit and engagement between group finance and projects'. This is a major red flag to Wood's current and 'would be' lenders.

Hence, Wood's lenders - in consultation and agreement with Wood and Sidara - require Sidara's offer to be restructured to 35p per share cash for shareholders, and £450M cash for Wood as a company (equates to 50p cash per share) in order to add extra security for lenders.

The alternative to a sale of Wood to Sidara, is that Wood as already advised needs to sell assets (which could be easier said than done, and the risk is that fire-sales usually attract fire-sale prices), and/or dilution for shareholders to raise cash (never a smart idea).

The sale is a done deal. Sidara are fully across the review, and will wait for Wood's audited accounts for 2024. If ther eis no material changes, it could be that the same day Wood's audited accounts are published, Sidara will make their offer formal, then vote, then sale completes. Sidara cannot offer less than 35p per share, esle it will be rejected by Wood's institutional investors and Sidara will miss out. Simple.

Price fluctuations between now and the suspension date ought not to concern any investor who wants 35p per share in the bank!

Sidara and Wood will be a force to be reckoned with as per the RNS.

The only change to the above will be if another interested bidder enters the fray. After all, Sidara has the bargain of the century...

With Wood, it's never over 'till the fat lady sings!

@Vulcan. You have your opinion and I have mine. I prefer to base my opinion on the last two RNS releases combined with common sense, not the whims of share price movements. I suggest you reread the last two RNS releases with a pragmatic mindset. To me the share price movements between now and when the deal concludes is irrelevant, other than to buy on the dips. The deal will be done…unless another bidder enters the fray at the 11th hour.

I don’t plan to post much if at all over the Easter holiday.

Happy Easter don’t eat too much chocolate! Lol

@Thonogson 'No the Institutional Investors will have been consulted before Wood's conditional acceptance offer. They're onboard.'

Agreed - its' all in the last two Wood RNS - all laid out, it is as clear as day. This is a done deal at 35p per share - this is the minimum the institutional investors will accept. Easy profit for shareholders who have averaged down and for new entries. Sidara want Wood, it makes perfect sense - the Sidara - Wood combination will be a serious force in the industry. In 12 months time, Sidara will turn Wood around, and they will bank the profits from then on.

Over head-slam from Sidara, while Wood watches on helplessle. That's it. Game, set match, Sidara. Clear win to Neil, and as for the loser Ken...time to quit tennis!

Did not think I would add again. But have topped with a decent amount up at less than 20p! License to print money and all that.

GLA

Looks like the RNS will land at at 4.45pm today...after the stock market closes for the Easter break.

Very smart move.

No news, is not good or bad news. No news is just that...no news.

GLA

Anyway all from me tonight.

Set your alarm for 7am tomorrow (...maybe 7.10am I could do with a sleep in) when all ought to be revealed!

GLA

I do not believe Wood's current lenders are receptive to Wood's request for debt renegotiation. Ditto for any new lenders.

In effect, Sidara has stepped in to 'lend' to Wood to cover any immediate headwinds.

Sidara wants to buy Wood and its offer is commercially sound, and importantly mitigates risk.