Member Info for jenashon

Sidar definitely want Wood Group, I can't see them walking away, surely they must have expected to have to raise their 1st offer.

Good post Icecool, it just does not make sense to write what was written in the RNS this morning, surely any proposal of such should have been discussed with shareholders, maybe the II's have been involved but its just very weak negotiating . What can be done by shareholders ?

Oh & Maybe your MP.

Worley fought off Sidara by claiming it was "against the national interest" for Dar Group to gain control of the Australian engineering company.

Interestingly - investment bank Rothschild, was engaged by Dar Group for advice in its takeover bid for Worley.

This Rothschilds seems to crop up a bit & Neil Bruces Wife is a Non Exec Director at Rothschilds.

This lot really needs looking into.

Regarding speaking to Wood Group & the board I tried to find who to contact & found this email address - investor.relations@woodplc.com

We need to let the board know our thoughts as shareholders, at this crucial time. There's no point in arguing amongst ourselves as to what was right or wrong - We need to let the board know that.

Worley fought off sidara for 8 years - Wood need to put up a fight, how many other companies have got wood groups scale, The board need to stand up to Sidara, & those that the board are answerable to need to see Sidara's plight, Sidara Needs wood , & they want Wood, they have only just begun, compared to how long Worley fought, There is surely more to be had from Sidara. Its time that the RI's, The II's & the board had a chat & there is not much time.

So Rothschilds said it was best option - I wonder who that was at Rothschilds - & Neil Bruces wife is at Rothschilds !

Worley have cash as they were going to do a share buy back - it would be so good if Worley stepped in, causing Sidara to miss out. Worley did not put up with any nonsence from sidara.

Yes NMH21 agree, what would be value of each part of Wood ?

Also interesting what the board said “However, 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.”

Who are Wood Groups financial advisors, is it Rothschilds, ie Neil Bruces wife ?

Evening All, Dazpink - also thinking like you, ( Penspen tookover C&I Engineering from Aberdeen on October 25, 2024)

In November 2016 Sidara submitted a proposal to acquire 100% of Worley' shares. However, this move faced significant resistance from Worley, which positioned itself as a company of national interest in Australia. Worley even submitted a detailed document to the Foreign Investment Review Board to emphasize its strategic importance.

The share price during that period was generally in the range of AUD 6 to AUD 10 This would place Worley's market capitalization at roughly AUD 1.5 billion to AUD 2.5 billion,

In 2016, Worley had an annual revenue of approximately $5.676 billion USD

As of 2025, Worley's market capitalization is approximately AUD 6.5 billion. The company's growth reflects its strategic focus on sustainability and energy transition services, which have become increasingly important in recent years.

Worley's current revenue, as of the fiscal year 2024, is approximately $11.616 billion USD

Sidara then tried to acquire worley, gradually buying 23%, but failed to get further, after trying for 8 years they gave up, They must be very positive about their chances of getting a better result at a takeover attempt at Wood Group.

Either way looking at Worleys present market cap & share price, declining Sidara's attempted takeover did not dent there business model. (as Icecool has said many time Wood Groups business is fundamentally sound so either way its a win)

Might have had something to do with " Trump suggested there would also be specific tariffs on pharmaceuticals as the US "doesn't make anything" in terms of drugs and medicines." He wanted US to manufacture its medicines in US.

Form 8(OPD) 6th March 2025 07:00

“Emma Griffin, close relative of Neil Bruce holds 3,602 of the aggregate figure above”

St James Place hold John Wood Group in various funds here is one I looked at https://www.sjp.co.uk/sites/sjp-corp/files/SJP/fund-prices/unit-trust-group-funds/long-reports/2025/Managed_Growth_UT_3101.pdf

Regarding Emma Griffin – form 8(OPD) stated “Close relative”, as a shareholder, does the fact that Emma is the wife of Neil Bruce who is on board of Sidara, & Emma being on board of St James Place which may an an II discuss with Wood Group what St James Place would accept in SP terms. Plus then the other dimension that Emma Griffin is also at Rothschilds as a non ex director who Wood Group may want financing from. (should Neil & Emma be allowed to speak to each other ?)

Good Evening, I was trying to catch up with the days chat & saw I got a mention, Thank you Surin, & Icecool, Dave, & all other posters who contribute to this Wood Group Chat. I am sorry I do not have the knowledge that most of you have but Wood Group has interested me & so yes I have tried to research as much as I can & have tried to share anything which I believe may be of interest.

I am invested here & My thoughts on WG are that it is one of those companies that is needed, Its not a company that produces products which we desire but can do without, No WG is essential & what it does is required - so that was the number 1 issue for me. When I started looking at its history & takeover approaches, Apollo, Sidara, & of course the guy I have mentioned a lot Neil Bruce - It just got so interesting, Sidara failed at taking over Worley, WG & Worley work in all same sectors. One thing I have not posted about was what I found out the other day, Remember that RNS from Sidara disclosure about that Emma Griffin who held shares in Wood, Well it turns out Emma Griffin is Neil Bruce's Wife, (does that make a difference) - Emma Griffin also a director at St James Place - who are one of WG's institutional investors, not only that but Emma Griffin is also a non ex director at Rothschilds. So Emma Must have faith in WG. Now Sidara, since they walked away from WG takeover talks last August, Sidara have Acquired C&I Engineering, now incorporated into Penspen. So Now they are back at the table with WG. Everything told me Sidara were deadly serious, they have Neil Bruce on the board, He has done about a dozen acquisitions & some of those took about 2 to 2.5 months, well with all they found out last year, & now since they came back on 24th Feb it would be 2 months on 24th April, Maybe as its Easter deadline was brought forward to the 17th. So I don't know anything about takeover rules but hope that the research I have done is of use. I do think WG should actually be firm & say offer by 17th as we have a business to run & all the shenanigans of takeover talks & the hedge funds taking advantage of what's going is a distraction.

Good Luck Everyone.

Interesting posts Dazpink, regarding scale, Sidara's company Penspen which acquired C&I Engineering also from Aberdeen (3 of C&I board were previously in management at Wood) have about 1,100 employees globally & 12 Global offices

In comparison, Wood Group is significantly larger. Wood Group operates on a much broader scale, with 35,000 employees and a presence in over 60 countries.

While Penspen is a respected player in energy consultancy, Wood Group's size, scope, and diversified operations make it a much larger and more influential company in the energy sector.

Sidara need to scale up to meet the demand & Wood Group have that scale, that's why they need Wood.

Interestingly Wood was appointed as the integration project management contractor (IPMC) for Humber Zero, which you have highlighted that Sidara are also working on.

Wood Group is actively contributing to energy transition by diversifying into renewables, carbon capture, hydrogen, and other sustainable solutions. These align closely with the goals of groups like "Just Stop Oil," advocating for a cleaner energy future.

Instead of focusing solely on disruptive protests, groups like "Just Stop Oil" might amplify their impact by investing in or collaborating with companies leading the energy transition, such as Wood Group. This could help drive the systemic change they aim for, working directly within the structures they seek to influence.

If anyone has contact with Just Stop Oil - may they recommend that the best thing all of its members do is to invest in Wood Group, in a similar way as those that invested in Gamestop.

Surin, It gets more interesting the more I look, the skills of this company amaze me & no doubt companies like Sidara, who can see what an asset Wood Group is .

The Government has just approved a pipeline for CCS which Wood was appointed as the Integration Project Management Contractor (IPMC) for in 2021, for this leading industrial decarbonisation project in the UK.

https://www.woodplc.com/news/latest-press-releases/2021/wood-awarded-contract-for-humber-zero-project

The Government has green-lit the £200m Viking onshore pipeline project, clearing the way for the construction of carbon capture infrastructure on the Lincolnshire coast.

https://www.thebusinessdesk.com/eastmidlands/news/2096962-200m-viking-pipeline-project-approved-for-co%e2%82%82-capture-on-lincolnshire-coast

“Wood is focused on driving the global energy transition and a milestone project of this kind could create a model for industrial decarbonisation around the world, as well as helping the UK to meet its goal of reaching net-zero by 2050.”

Wood is in the right place & its expertise is in demand not only in UK but also worldwide. (Sidara can see this)

Either way Sidara have now been pursuing Wood Group for nearly 1 year since first entered takeover talks - Thats how they started the their attempt at taking over Worley, When Sidara's takeover bid failed at Worley they started building up a stake, on the "Creep" - eventually reaching 23%.

So - Now Wood is the target, if this takeover bid fails, It looks like Sidara may try the other method of building a stake, either way, it looks like they want Wood & either way its positive news for shareholders.

When Sidara tried a takeover approach at Worley they failed, so they tried to gain control by increasing their stake eventually to 23%, but failed to gain 26%, which it is said would have given Sidara control of Worley, there was lots of shenanigans & in the end, "Dar (Sidara) may not have wanted to suffer potential reputational damage from all the mud being thrown," said one observer. Now Wood Group is the target - What is the % needed for Sidara to gain control of Wood Group ?

Sidara may not be the only Middle Eastern company looking at global deals , Mubadala & others are prouling looking for deals. The broader message? The UAE’s state-backed energy titans are shifting from regional dominance to global dealmaking. https://oilprice.com/Latest-Energy-News/World-News/Mubadala-Makes-Its-American-Gas-Debut-Finally.html

Wood group would be wise to let Sidara know time is running out & 17th is final day. Wood Group should be charging Sidara rent .

Regarding 17th April - is that Sidara's last day, Will they be thinking that they chance a starting bid, in order for there to be time for a higher bid if that is rejected, is it possible that a starting bid may arrive sooner than the 17th, to give time to complete by 17th ?