Member Info for Kando

"The fact that it is struggling to make this price suggest that there is still some residual concern that one of the lenders break's ranks"

This is no longer a risk given that the debt modifications have been enacted and maturity dates extended to Oct 2028. The modifications essentially permanently waived the right to recourse for prior covenant breaches. It's now newly restructured debt.

So long as Wood remains within its covenants going forward lenders cannot simply demand repayment on a whim. They would have needed to demand that repayment prior to the modifications being enacted, but instead they granted temporary waivers and were ultimately happy enough to roll over into Sidara's ownership subject to the takeover progressing.

Fair play to Beverley, he's got almost as good a price needing only to hold for a week as those who thought the opportunity lay before suspension 6 months ago.

That was the better way to play this.

A no vote releases Sidara from the 30p they've committed to.

The market is reluctant to believe this insolvent company is worth anything close to 30p.

If there's a no vote the share price will tank below 10p and if Sidara want to come back again - they should - far more likely it'll be for much lower than 30p. They'll point to the share price trading in the 3-8p range and say now the offer's 15p, take it or leave it, the market thinks your shares are worthless, you have no leverage, say no again and we'll lower the offer again.

"Not the same thing Kando"

They are exactly the same thing.

You think ZERO value for your shares isn't the same as worthless?

By definition they will have no worth.

You know they have Futurehine, don't mislead people like Ice.

From the company's RNS:

"If the Acquisition does not proceed, absent an alternative path to refinancing the existing facilities, the lenders may require Wood to implement the Separation Plan and dispose of businesses and assets on an accelerated basis to reduce its debt. Accordingly, while the Wood Directors believe that the stable platform that would apply if the Acquisition does not proceed would allow Wood to continue serving its clients, there would potentially be very limited to zero value for Wood Shareholders."

See: **ZERO VALUE FOR WOOD SHAREHOLDERS**

" The Acquisition provides certain cash value for Wood Shareholders at 30 pence per share, compared to alternative options that the Wood Directors believe would likely generate materially less, and potentially zero, value for shareholders."

See: **ZERO VALUE FOR SHAREHOLDERS**

" The fact that the sp is 22p and not 28.5p is i) evidence that the 'market' doesn't think the 30p offer is odds on to get accepted and ii) evidence that the market thinks the company is worth LESS than that offer if left to fend for themselves."

Part i is not true, the vote is still clearly odds on (aka more than 50%) at 22p. If it wasn't on , against the zero value alternative, it would be trading significantly lower than 22p. Ignoring the time-cost of money and regulatory approval risk, it's currently trading at a 75% chance of a yes vote. Include the time cost of money and the limited regulatory risk, it's currently priced closer to 85% chance of yes vote.

Part ii is accurate. If there is no takeover, the company has said its shares are worthless.

"If they do go for option two, it won’t be minor, we’re talking 60–80p minimum to stand a chance. Wood is already pivoting into full recovery mode under new leadership, leaner and more liquid than it’s been in years.

Give it 12–24 months, and I see 150p+ as a realistic target."

This has to be a wind up.

Are you having a breakdown Ice?

Recent behaviour, Daz?

C'mon now old bean.

I've spoken truth to fantasy from day dot on this board.

My "behaviour" has been fairly consistent I'd say Daz. I called you and Ice and Bob turkeys 6 months ago. I'm still calling you turkeys today. You are turkeys voting for Christmas. You know this. But don't be so sensitive about it. Gobble away Daz. Gobble Gobble.

"What do we think the price will drop down to ? Short term"

Something not good. The D4E or administration alternative implies wipeout. So it will be much below 10p immediately, and drift lower from there, probably around 3p or 20-25m mcap. Much like PFC did.

If we think a No vote is at all likely, we ought to be selling our shares now.

Bob, your insults show the limitations of your wit.

You can't defend your senseless investment decisions and you can't account for the unerring inaccuracy (or outright fantasy) of your "intel".

We'll leave it there. You've said more than I ever could about yourself.

"Fake gossip? 😆😆😆😆😆😆😆😆😆

Future, remember the other day you said my friends within the walls of HQ didn’t know I shared their info? One of them has been on here today. Jog on you wretch."

Future is right Bob, you peddle nothing but nonsense for months.

Nothing you have said you were privy to has played out.

You and your imaginary friends in high places, Imaginary sources of imaginary leaks. You may well have never worked at Wood, or just swept the floors if ever you did.

Jog on yourself Bob, you odious little fool.

Go back to sleep Bob, it must be past your bedtime.

Speak for yourself Bob.

You can get upset and cast nonsense aspersions about me all you like, but I simply quoted your own words back to you. You said you were gambling and got upset that I said gambling isn't a sound investment decision. Stop acting like it is.

"so I wouldn't class it as a terrible investment decision like you or myself made...would you?"

I would actually Luca, he's voting No to only path that provides him any value for his shares.

That is a terrible investment decision.

And speak for yourself, I invested here knowing the situation at a price I was comfortable with.

You're very welcome Bob.

Anything to help you sleep with your terrible investment decisions.

Sorry for quoting your own statements back to you Bob.

You said you were "rolling the dice and taking a chance". If that's not gambling then we disagree on the definition.

I'm sorry that your instincts are putting your investments in danger. I care even less for your instincts than you do my opinions.

"Roll the dice and take a chance."

Gambler.

"Gambling: The sure way of getting nothing for something." - Wilson Mizner.

Daz, there are resources for you to learn how to read Results, Income, Cash Flow Statements and Balance sheets.

There's really no excuse for your level of naivety.

"Kendo, I only mentioned the debt, that’s why I said not doing too bad !

WOOD could do exactly the same in 2026 given the chance"

It's Kando. Go to specsavers.

And no, they absolutely could not.

There is no path to doubling the revenue and going from negative 400m cash flow per HY to positive 665m cash flow in 12 months. You're as deluded and deranged as Icecool if you believe so. Get a grip.

"Isle, Worley has more debt than wood group and doesn’t seem to doing too bad"

Surely you know how to read income and cash flow statements Daz?

Worley has double the revenue and 665m free cash flow. WG has negative 400m FCF (in just the first 6 months of this year).

Spot the difference.