Member Info for JamesOxford

@IceCool Did you see Kroc’s post?! See what I mean!!! Lol

@IceCool No matter how hard you try, you will never stop the doomsday BS here or anywhere else. Personally I don’t mind doomsday BS. Most of it is very funny! Lol

@Borismoose That is what makes Wood such an attractive investment right now. Be greedy when others are fearful!

@Bjet @ProfitJock. Interesting. Thanks very much.

Been selling a few other stocks after buying in on yesterday's lows - Barclays a nice little earner especially. Lol. Meanwhile I will sit tight with Wood!

@ProfitJock @Rock8 Did Wood actually hit 34p for a short moment or do you think that was a false trade i.e. cancelled.

@longfell You asked the questions - so I thought I would humour you. Lol

@longfell:

Answer to Q1 Becasue shorts think there will be no offer/deal made between Sidara and Wood; and therefore Wood heads towards suspension.

Answer to Q2 Best summarised by article in UK Investor Magazine published 31 March (copy below):

Wood Group shares plummeted on Monday after the energy services and engineering firm announced damaging findings from a review of its finances. The findings cast doubt over whether Sidara’s takeover deal will go ahead.

Wood Group shares were 30% lower at the time of writing.

Deloitte’s review of the company’s financials ‘identified material weaknesses and failures in the Group’s financial culture within the Projects business unit and engagement between Group Finance and Projects’.

As a result, Wood Group said the P&L and balance for the past three years would be adjusted, and EBITDA would also be revised.

“The situation continues to deteriorate at energy services business Wood Group which is damaging its credibility not just with investors but crucially potential customers too and its current suitor, Sidara,” said Russ Mould, investment director at AJ Bell.

“The deadline for Sidara to formalise a takeover deal has been pushed to 17 April but whether the latest revelations cause a rethink for the Dubai-based group or complications in the timetable remains to be seen.”

“While the issues revealed in a draft review of the business mainly relate to historical performance at its Projects business unit and do not relate to cash flow, they raise questions of culture given the failure to maintain robust accounting standards. The shares now face a suspension while historic accounts are restated.”

Investors who bought into the stock in the hope of a takeover deal now face a nervy wait for any update on the talks between Wood Group and Sidara. Dubai-based Sidara may be inclined to hold off making a move now to see what the fallout for Wood Group will be – and ultimately if they’re able to secure the group at a lower price.

Wood Group’s shares will be suspended from 30th April if the company does not publish FY24 accounts by 30th April. This is expected to be the case.

@ProfitJock I do think yesterday was the day the shorts should have closed their positions. Maybe they will try to do so AM today.

If not, the shorts take a huge risk if they hold as the 17 April draws nearer - not only due to macros but also due to probable Sidara offer.

All to play for here. Fun and games!

@Wiggly. This is one of the many reasons Sidara is still at the table. After all this time - still no leaks. It bodes well for a decent offer.

I think the RNS offer will arrive 7am Friday or 7am Monday to leave time for one or two back-and-forth negotiations before 17 April.

If not then 7am Thursday 14 April with an offer to good for Wood to refuse (given recent events at Wood) that Wood accepts and recommends to shareholders. All wrapped up in one RNS.

That said, this is Wood...anything can - and often does - happen! Lol

Wood share price to ROCKET Upwards AM Tomorrow!!!

Close of business on US Markets:

The stock market mounted one of its biggest rallies in history after President Donald Trump announced a pause in some of his “reciprocal” tariffs on the globe, causing a market that has been under extreme pressure for the past week to explode higher.

The S&P 500 skyrocketed 9.52% to settle at 5,456.90 for its biggest one-day gain since 2008. For the broad market index, it was the third-biggest gain in post-WWII history. The Dow Jones Industrial Average advanced 2,962.86 points, or 7.87%, to close at 40,608.45 for its biggest percentage advance since March 2020. The Nasdaq Composite jumped 12.16% to end at 17,124.97, notching its largest one-day jump since January 2001 and second-best day ever.

About 30 billion shares traded hands, making it the heaviest volume day on Wall Street in history, according to records that go back 18 years.

“I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump posted on his Truth Social. Trump, in the same post, said he was raising the tariff on China higher again to 125%.

@Mumbo_Jumbo 'James - I am not going to call you names but an appeal to you to educate yourself.'

I would have had more respect for you if you said 'I was dumb'...which is what you just said in your long-winded statement above! Lol

I repeat - if it was so obvious that Trump would 'blink', then why did YOU not PREDICT it before it happened?! The fact is you did not predict anything. Funny that.

The fact is that Trump always takes a 'shock and awe' approach, backed-up by a 'hard-line' approach, then a 'flexible' approach (just announced via the pause on tarrifs announcement), and finally a cool and well-balanced approach.

What has happened is typical Trump, and is working.

Look at the big picture...

Nations at the table ready to negotiate on tarrifs, and markets recovering in quick time.

Imagine if Sleepy Joe was still the President. Mumble, mumble...followed by more incoherent mumbles! Good grief.

I think Mumbo_Jumbo you ought to drop the 'Trump discussion'. We agree to disagree.

Remember, this is the Wood discussion board...not the Trump discussion board.

@Pat2014 We have to agree to disagree.

The US is in serious trouble.

Trump is the ONLY Preseident with 'balls of steel' to take the dire US situation head on.

Look at the US trade deficit.

Look at the US Govt debt as a percentage of GDP, 123% and forcast to reach 150% by 2028! As a comparison Germany 62%, UK 101%, Australia 49%...

Trump paused, as sensible nations have come to the table to negotiate. What else would Trump do...carry on with the higher tarrifs come what may? Obviously not. I do not particularly like Trump, but he will get the deal done. The alternative is - if Trump did zero - that the US would slide into bankruptcy eventually, and take down the world economies with it.

I do not wish to enter a 'Trump discussion' here. My only real point was that due to Trump tarrifs paused, Wood share price will rise AM tomorrow. Great for anyone invested in Wood!

@BeardedDragon: YOU posted: ‘Having myself worked in the Financial Services sector in the Arabian Gulf for 18 years until recently, I would not trust the board of SIDARA as far as I could throw them.’

I do not know why you would attempt to discredit Sidara the way you did. It was a very dumb comment to make.

That's like saying 'I was robbed once by a Chinese man, now I do not trust any Chinese men as far as I could throw them'.

Have another cup of tea BeardedDragon.

Mumbo_Jumbo. You obviously have zero business negotiation experience.

Please do not converse with me.

I prefer not to engage with an imbecile.

@Mumbo_Jumbo 'Educate yourself and make a coherent argument rather than just rhetoric. I can't predict what a mad man is prepared to unleash on his own country...'

What a joke of a post! You tell me to 'make a coherent argument rather than just rhetoric', then in the next sentence you post 'I can't predict what a mad man is prepared to unleash on his own country...' Lol

Mumbo Jumbo indeed! Lol

@helloDave. I do like your optimism. Given Wood's current situation (which remains very fluid), £2 per share is very optimistic indeed.

@Mumbo_Jumbo What a load of rubbish you spout. Hindsight is lovely isn't it?! If it was so obvious that Trump would 'blink', then why did you not PREDICT it before it happened?! Funny that. Lol

@helloDave Trump is known for his negotiation strengths. He took it to the line, then decided to pause.

Result: Markets recovery in play earlier than expected. Wood included of course.

Main-stream media will praise everyone but Trump, and talk doom and gloom. Main-stream media have no idea about how business negotiations are handled and what strategies and tactics works best.

Everyone in the know, knows that Trump loves to negotiate and do a deal. So do a deal. Simple.

China is so dumb to retaliate with the US who is their largest trading partner. China played a bad hand, a very costly hand. China will be in panic mode now. Hot-line phone calls from China to Trump's team will run hot soon enough!

@BeardedDragon: You posted: ‘Having myself worked in the Financial Services sector in the Arabian Gulf for 18 years until recently, I would not trust the board of SIDARA as far as I could throw them.’

Now BeardedDragon, you post: 'In my many years of UAE business experience, I have had no dealings with Sidara.'

Well which is it? You seem confused, to say the least! I think you have completely lost the plot old chap. Best that you take a break from this Wood discussion board. As one poster suggested it's time BeardedDragon that you have a cup of tea...or three!