Member Info for jenashon

Now on the board of Sidara

https://www.ruf.rice.edu/~ecforum/bios/Neil%20Bruce%20BioPhoto.pdf

Here is a bit more about Neil Bruce - iIreally feel he would like to take back control, afetr all he was Managing Director of AMEC’s Upstream Oil & Gas division & taking over Wood, well Neil would be 'back' where he felt at home.

https://www.ruf.rice.edu/~ecforum/bios/Neil%20Bruce%20BioPhoto.pdf

Just back from Tennis & catching up with all your excellent posts, thank you all.

Has anyone got any thoughts on the fact that Neil Bruce - the ambitious Oilman from Aberdeen who was building an Empire with SNC Lavalin - is on the board of Sidara - He is quite a dealmaker & getting to takeover Wood Group would be an ultimate deal for him ( I imagine) - I am sure that he really wants this deal, he probably knows Wood Group inside out. & after what happened in Canada guess this deal would be re-creating that empire (a bit about him below)

https://www.standard.co.uk/business/neil-bruce-the-scottish-engineer-building-an-empire-with-snclavalin-and-rebuilding-damaged-reputations-a3588101.html

The UAE Energy Strategy 2050 aims to triple the contribution of renewable energy and invest AED 150 to AED 200 billion by 2030 to meet the country’s increasing energy demand due to a rapidly growing economy.

Would it be fair to say that the 1 month chart is showing a cup & handle pattern ?

I had a look back in the RNS's to when this form had been used last & the only dates were in 2017 ( around the time of merger with Amec Foster Wheeler). Could this important currently ?

Purchases 930, 504 @ 0.393 GBP & 0.3712 GBP

2,229,676 @ 0.4533EUR & 0.533 EUR

I forgot to mention in 2016 costs were estimated at £14 billion.

Now in 2025 estimates are £20 billion + some are even saying up to £60 billion.

Sidara would like some of that work & if Amec Foster Wheeler are involved that could be interesting

In 2016 Amec Foster Wheeler announced that it had been awarded a contract by Heathrow Airport Limited to help secure permission for the building of a third runway.

https://www.woodplc.com/news/latest-news-articles/2016/amec-foster-wheeler-appointed-to-support-heathrow-expansion

It would be interesting to know if this contract was still in place & if this is one of the reasons why Sidara are interested in The take over of Wood as it looks like Sidara are acrchitects & were involved in Shanghai Pudong International Airport

A project to increase passenger service and facility performance for one of China’s biggest airports. So now that Heathrows 3rd runway is being given go ahead will Wood Group benefit ?

Interesting that Sidara company Penspen completed its acquisition of C & I Engineering solutions not long ago.

Also interesting is that C& I engineering solutions CEO is ex Wood Group, COO is ex Wood Group, & Technical Director is ex Amec Foster Wheeler. info from https://ciengineering.co.uk/meet-the-team/

C & I are based in Aberdeen & it looks like they are a mini version of Wood Group as ex Wood Group Management started the business after presumably leaving Wood Group - Now they are part of Sidara Management, so it would seem Sidara will know quite a lot about the workings of Wood allready.

SG - Interesting what you write. Either way Wood Groups SP would benefit , either through a full scale Takeover by Sidara (at the right price) or through Sidara purchasing some of the elements of Wood Group . After all Wood Group have said that they will raise capital through disposals -

Is that where Angie got her dress ?

Yes, sorry, well spotted - & also it should read They Have $975m US dollars into wood from the sale of their 19% Worley Stake

I read this on ADVFN - pinch of good news in the latest one. Sidara bought at 37.5p. They can't make a bid below the highest price of any share purchases over the last 12 months. So 37.5p is an absolute minimum that they could offer. They may have purchased at a higher level. It draws a line under the current share price.

Also - if they sold their 19% stake in Worley before the last bid - they will have some cash eg 19% of $5.13 Billion US it would have given Sidara $975 000 US to put into Worley

Its Exciting

I just listened to the Worley Presentation of Weds 25th Feb Half Year Results & they are excited about the future. They also believe that they are undervalued & are planning a $500m share buy back of their own shares.

Re US Politics- they see it as a Nett Positive & their customers have told them to prepare for Mobilisation.

Re Middle East - They said its Gangbusters, busy meetings going on, there are great opportunities & they are very optimistic.

Re pipeline of work - massive amount on average looking at 12000 projects, so they are busy deciding which to quote for, so many opportunities.

Wood no doubt are in the same position but Listed in London which does not seem to be offering full value to its Listings, & seems to be in the grip of takeovers & delistings, Shell & other companies are unhappy with their companies discounts & are looking at moving to New York which could put Billions on their valuations & save a fortunes on stamp duty.

Wood Group has lots of options & I am sure like Worley has an exciting future ahead.

5 Things Golman Sachs looks for before investing

https://www.inc.com/drew-hendricks/5-things-goldman-sachs-look-for-in-a-company-before-investing.html

As Sidara has allready been inside Woods books when carrying out its due diligence for Sidaras last bid, as that failed & they were then having to wait to re enter talks - Is it assumed that Sidara would have been excluded from dealing either long or short due to the information that Sidara gained during its look at the books.

Either through themselves or through anyone acting for Sidara ?

On being contacted & re - approached by Sidara, Surely the first response would be "Oh hello again, I hope you understand that as we are a PLC, our chats with you have to be made public, this will affect our share price & company valuation which at present does not reflect our true valuation, as this was impacted when you walked away from your last approach, if that was your intention then I hope you have a guilty conscience , your morals are questionable ! However If you are serious about a possible offer, then please realise that we are not going to even start talking unless your offer would be anywhere near to your final previous offer, If that is not your intention then let us both walk away now & forget that we had this conversation"

Just had a look at both Sidara's & Woods websites to understand what each company compares with each other.

Wood group is a PLC - specialised in -Energy Security, Energy Transition, Metals & Minerals, Life Sciences, Chemicals, Digitisation, Decarbonisation, Employs 35000 people in 60 countries & has revenue of c$5.5bn Canadian ($7.85bn US) PLC

Sidara is a working partnership - Specialised in - Architects, Consultants, Engineers, Designers, Project Managers, (group of 20 companies) employs 21500 people in 60 countries - Revenue $2.8bn US Owned by 44 shareholders who are working partners in the business.

Sidara had proposed a cash deal for Wood in there last talks, Maybe like a lot who say "its a cash deal I don't need a mortgage" - Sidara really needed a mortgage, but, were then able to look at the books to enable Sidara to go to whoever is providing its funds to put the proposal to Sidara's investors - Maybe Sidara were always going to go back to Wood but had to wait due to Rules of PLC's. ( is being a PLC favourable to a company in these situations - if Wood was a private company & Sidara had come back would the price change from what they had previously anticipated having to pay ?)

Wood group is a very very valuable & important company of experts who are very much needed.

Henry Kissinger was quoted as saying "who controls the food supply controls the people, who controls the energy can control whole continents, who controls the money can control the world.

If Sidara want to aquire Wood, which it seems they do, then surely they will know that there offer needs to be realistic.

Sidara offloaded their 19% stake in Worley before they made their last bid for Wood, They must have watched the Apollo bid get turned down - So it would seem that they know they need to make a realistic bid that will be accepted, otherwise they would be just wasting there own time & money on any unrealistic bid.

Maybe Sidara have been away raising more funds to put in a better offer than the Apollo offer which they saw got turned down.

In order for their bid to be accepted & an agreement to take place Sidara will I am sure offer an acceptable price thats is business. Sidara will know that Wood have many options & the present share price is not really a reflection of Woods true worth.