Member Info for Kando

How could it possibly be above 30p absent a credible report of another bidder?

Why would shorts need to close above 30p?

Some of you live in a state of willful self-delusion.

This should trade at an uncertainty discount to 30p until the offer is accepted. The market will decide that discount.

So too is Icecool. Conspicuously silent after what the company (and its advisors and lenders) told or signalled to him over all these months, was in fact reality.

Institutions are not going to be masochistic enough to reject this takeover.

Massive cash outflows again, revenues down, ballooning of an already unsustainable debt position. The order book is nice but irrelevant, since most of those orders are said to be delayed until Wood's future is more secure - aka taken over. The order book presents value to new owners, not to current holder's hopes of a turnaround.

We'll see in the next 2 weeks if anyone else is enticed by anything in this abysmal set of results. Possibly.

As the company says:

"Since the start of the Offer Period, Wood has received a number of expressions of interest from, and engaged with, other parties in relation to a possible offer for Wood. However, as at 28 October 2025, being the latest practicable date prior to publication of the Supplementary Circular, no proposal other than the Acquisition, written or verbal, has been made for the Wood Group and Wood does not have any discussions ongoing with, and is not in receipt of any approach from, any party other than Sidara."

There's been interest and engagement, but no ongoing discussions.

"while folk like you wanted a vote without the accounts."

Another fabrication. The conditions of the offer stipulated the release of audited accounts, that was never a debate. Normal investors knew they would get to see them before voting. It's you who has created a straw man fantasy that in some way the accounts would never be released.

The difference was that normal investors read and digested the RNSed information from the company that laid out, in plain English, that the group needed recapitalisation, that its capital and debt position was unsustainable and that a takeover of any sort represented the only pathway to shareholders receiving any meaningful value for their holdings.

The company gave you your transparency and you called it nonsense.

You couldn't and can't handle transparency. When you get it, apparently tomorrow, you still won't want it. You'll have a new narrative as to why it isn't reality.

"Hey Kando, what’s the plan when the vote gets shot down and Wood stays independent"

Simply fantasy to think that's going to happen.

What's your plan when the takeover is approved, as all recommended takeovers generally are when the alternative is a capital raise that will leave shareholders with no value? (the company's and its financial advisor's words not mine)

Will you then concede that you misled people here into voting against their own interest?

You may be "happy to get zero" but that's not what investing is for anyone else. You're an idiot leading sheep - no offence to the sheep reading this.

Just because you now claim to simply want "transparency" because you were proven wrong for months, doesn't mean you didn't spend the better part of the year primarily talking about the "fundamentals" and how amazing they were, in spite of the evidence to the contrary and declaiming Sidara for daring to show an interest; how you wanted them to walk away, how you wanted the takeover to fall apart, how you claimed to have reported them both to the FCA personally to sabotage the takeover.

It was never about "transparency" until your insane narrative no longer worked. I'm not the first person today to remind you of this.

You're a grade A bull**** artist and you're getting found out. Your short is cooked.

Yes Rock. And it's still hard even at this late stage to put a likelihood on there being another bidder. It certainly reads like Sidara are nervous of competition, hence the fairly convoluted structuring of the deal with the pre-takeover capital injection, debt modifications and the limited window between accounts visibility and the vote. All that reads like they want to make it as difficult or inopportune for any other party to prepare a bid, but you have to think if anyone was interested, they would find a way in those two weeks to present one.

Wood don't have the luxury of going it alone, the debt and cash flow situation they've dug themselves into dictate that, worsened by costs incurred negotiating the sale, but Sidara's bid is modest when looked at against the underlying cash generation potential and EBITDA. Take out the debt and term out their exceptional legacy liabilities and there's a cash flow engine there. There's value in Wood for someone, Sidara want it, others might yet too. Who knows what appetite there is from private equity in this frothy market.

"Crossed that accounts do not reveal any nasties,as Sidera has left the door open for a lower bid if that does occur"

They categorically have done no such thing, nor could they under takeover rules. If the conditionality is met their bid at the price offered is binding. They have signed a cash acquisition contract. See again: Cineworld's attempt to withdraw from the takeover of Cineplex resulting in $1.24bn in damages to Cineplex.

There's no need to broadcast your short position any further, like Ice, we already know how you're positioned. Your attempts at spreading misinformation have no bearing on a suspended share.

Huzzah!

"Expects" on, or before Friday. So it may be tomorrow. I expected the RNS to come the day prior.

Yes, you are reading it right Darth.

That's got to be the expectation.

How much longer must the board "enjoy" your meltdown Ice?

Your short is busted. You bet big going long above 70p, then went short with everything you had sub 20p trying to make it all back. It's all there in your post history; the moment you became fervid that the takeover must fail. It's because you need a takeover to fail. You need that equity wipeout via dilution that you so obsess over. The "Plan B" that leaves shareholders with nothing.

You're only fooling yourself. You can make 8000 more posts and use 56000 more emojis but it isn't going to dig you out of your mistakes.

What will you say when the institutions back this deal without so much as a whimper of dissent?

It's "Turkeys voting for Christmas".

The institutions will vote this deal through. They are not like you Ice. You are the turkey.

Your short is still cooked. Move on.

Hopefully so Daz, it has at times been dark.

"that’s why 30p will be rejected."

Sorry but that's still a reach Daz. Try to remember that Wood were days away from default this week. The debt situation is still the debt situation. There's a huge pile of it and they've breached all their debt covenants and have required waivers just to continue this far. Add to that they are yet to prove they can turn cash flow positive. They have said there is no alternative to the takeover that will leave any value for shareholders - that means any capital raise would lead to equity wipeout.

Any value added from Petrofac's demise is for whoever buys Wood. So it may add value for shareholders by inducing a higher competing bid.

But otherwise, good post.

Great point re: ADNOC's Habshan complex Daz. Wood must be a contender to take over Petrofac's EPC and maintenance contracts there once it is clear that Wood's ship has itself been stabilized with new ownership.

All implies additional potential value for any other would-be suitors.

Could someone who's done their due diligence on Tullow suggest what sort of oil price, if any, would obviate the need for a capital raise? Can one be avoided?

Would $75/bbl going into 2026 stabilize things? Their 2025 FCF target was dependent on $65, correct?

What sort of urgency and timeline is there on refinancing the debt?

Please forgive what might be incendiary or uninformed questions.

It's cute how quoting your own words back to you is somehow "unhinged".

Now you know how the rest of the chat feels listening to it first hand. If only we were all paid by the word to listen to the inane garbage you've spewed on here. Does your Plan B include a provision to compensate us for that?

It is cut and dry. Absent another bidder Sidara's takeover will be accepted. All other roads lead to shareholder dilution/de facto wipeout (see PFC). Institutions are not going to vote No out of spite like IceCool and the Gang because they "don't care if [they] get zero, [they] just want to see justice" with Ken and Franklin "slung up outside John Wood House".

Ignore the noise from the Turkeys gobbling for Christmas.

"If “no value for shareholders” was gospel, we wouldn’t have disposals, lender extensions, and a CEO swap mid-deal."

Not true. Disposals and debt extensions have have been required to get the auditors Going Concern statement over the line. Without that, there are no audited accounts. Sidara made audited accounts a condition of the takeover. Auditors would not sign off on the accounts if there was no cash to survive the following 12 months as a going concern. The disposals were necessary because Sidara's funding arrives after, not before the audited accounts.

You read into things what you want to read into them. Not reality, just your fantasy.

This deal is very likely to happen. And you will have been spared a loss (if you are long) whether you like it or not. If you are short - as you transparently are - then you are facing a loss.

Sorry I didn't mean to upset your roleplay again.

Won't you spare everyone anymore inane waffle that contradicts what the company have released. There is fantasy and there is fact. You might be confused that the two words have letters in common but they are in fact, very different.

It's important that you caveat all your spam with "Icecool holds a net short position in this stock". You shouldn't be misleading other vulnerable investors here that there is a "Plan B" that doesn't lead to "no value for shareholders". The company under the advice of its financial advisors have categorically spelt out that any alternative to a takeover will leave "no value for shareholders". If you put that disclaimer after every bit of nonsense you post then other posters wouldn't have to keep correcting you.

"What’s so dire about the situation? You do need to flesh out the argument!! Instead of generic FUD!"

I'll help him explain.

9 days ago on the 7th October 2026 the company announced a General Meeting to disapply some of their own articles of association, stating that a failure to do so would amount to an event of default and would mean the company could no longer draw from its existing lending facilities. It would then be unable "to finance its operations and business." Business would cease.

So the company would be mere days away from complete failure should that vote not be held, or that vote not passed before the publication of the audited accounts.

And you are still so daft to ask what is so dire about the situation? You simply have to be a troll. No one is that willfully ignorant of reality.

Unless of course... you are short the stock.

Yes you are. Unfortunately you never seem to stop going on about it.

Just how short are you this stock? Your 7000 posts of desperation say quite a lot.

Everything you say circles back round to the takeover being dead and "Plan B is now in motion". The company have repeatedly informed you that Plan B will leave "no value for shareholders", aka equity wipeout.

You are championing shareholders leaving with nothing. You're trying to convince other turkeys here to vote for Christmas. To pretend you care about Wood Group or other shareholders and that you hold a long position here, is a twisted joke. A joke that got old long ago. Give it a rest, you're losing this one. Suck it up.