Member Info for Medjed

“As a neutral”

🤣🤣🤣

“ As a neutral”

“run for the door”

Who are you kidding? 🤣🤣🤣

Question now is, how much will IIs fight back to bargain a better deal? Or will they just roll over at 35p?

Rotschilds & Sidara are working together for Sidara to get WG on the cheap.

Clearly not in the best interest of shareholders.

"Rival bid coming"

I hope so! I want to see these shorters wiped out!

F-ing shorts! Curse them all!

Completely agree! That’s what I have been banging on about. Once refinancing is out of the way, debt will be reduced, EBITDA is expected to increase by double figures for 2025 up from $450m for 2024.

There is absolutely no reason for the mcap to be this ridiculously low, and consequently the share price too.

This Sidara offer is way too low. It is just the opener to negotiations. Why would Institutions accept 35p when in a year’s time they could have 3 times that.

If they do a massive raise + asset disposals as per RNS to reduce the debt, then they won’t have so much debt after the raise.

Hence they should have a bigger EBITDA multiplier with hugely reduced debt compared to previous years when the multiplier was suppressed down to 3

What was WG free cash flow for 2024?

Also negative, -$168m

What was the company valued at? Ignoring the Sidara offer period around £1.5 per share or £1b mcap

As I said google EBITDA to understand what it means. Standard multiplier for this type of business is 6x but we reduced it to 3x to be ultra conservative.

By the way here is a excerpt copied from the RNS so at least you shut up on that front.

Trading headlines

· Delivery of 2024 guidance supported by actions taken in Q4

o FY24 adjusted EBITDA1 of around $450 million to $460 million

Prove what? EBITDA $450m is in the 14 Feb RNS

Are you incapable of reading?

Do I have to paste it here for you?

How embarrassing

Stop embarrassing yourse. You can just google it you know. Go on, google EBITDA.

I guess you didn’t read that same RNS the EBITDA $450m is in there too lol. Read more carefully next time.

You don’t understand EBITDA. The EBITDA has been rns’d it is $450m

Don’t invent stuff to suit your narrative.

I disagree. EBITDA is $450m which means with debt reduced mcap should get back to at least 4xEBITDA.

Those is equivalent to £1.4b market cap. But since for the past two years mcap has hovered around 3xEBITDA lets be conservative and use that multiplier which would be an mcap of around £1b

Lets look at two extreme dilution scenarios.

100% dilution, 1.3b shares in issue, the sp would get back to at least 76p

200% dilution, 2b shares in issue, the sp would get back to at least 50p

In both cases the sp would be much higher than presently or Sidara’s bid. That’s why I think IIs will bargain with Sidara for a buyout price in those ranges, I very much doubt they will accept 35p

Falcon Flyer pal, I see you just fly in without reading the message chain. Easy tiger, relax :)

I was responding to those scaremongers and FUD spreaders saying its Sidara or admin or terminal dilution.

I was trying to show them there is no admin, and even if Sidara walked and there was dilution it would not be so bad long term.

Anyway it is there in Wood’s RNS, they mention dilution may be needed if Sidara offer is not accepted.

“ there will be a placing to dilute you to hell.”

It could be bad for PIs who can’t average down, but I am sure Institutions would get pre-emption rights if they wanted to stump up the cash.

Complete guess but lets say 100% dilution, so 1.3b shares in issue. Short term pain but with debt reduced and $450m EBITDA should be able to get back to at least 4x EBITDA mcap which is back to £1 per share.

Shorts may be holding on because they do not expect any offer tomorrow but an extension as stated in the RNS.

Lots more time for shorts to play until the 30th. On that day you may see a rocket in the sp.

Completely agree. Some on here spreading utter FUD with no facts.

Petrofac looks very different. 2024 EBITDA was US$31 million, debt was US$622 million at 30 June 2024.

So thats 7% EBITDA compared to WG but more than 50% of the debt.

£77m mcap prior to restructure, not much they could do with that compared to 600m debt.

WG has a lot more room to manouver with its much bigger mcap.

Sorry spelled your name wrong