Member Info for raghusn

Apologies if I got the numbers wrong, I wait to be corrected. Just a thought that a higher percentage spend from Sidara would mean a larger return to the shareholders.

Not really that important given the fluid situation now.

BDragon, the effective spend by Sidara for the acquisition is 30p per share plus about 80p as capital injection, as per the present offer. That is 110p per share. 20% addition to the offer is 132p. If we remove the 80p capital injection, it comes to 52p per share.

Just shared a thought that if Sidara are prepared for a 20% hike to their offer, it translates to a much higher return to the shareholders due to the fixed capital injection component.

Sidara's offer of 30p is just the floor price. No doubt they would hope to see it through at that price but if a bidding war ensues will be prepared to go higher by a good margin. My wild guess of this margin would be about 20%, putting myself in Sidara's shoes as an astute middle east bidder.

They are offering 30p +80p now, and a 20% hike would be 52p + 80p which I think is not a bad bargain for the shareholders.

I cannot believe that there are no other bidders in the whole wide world interested in Wood's business. Of course they cannot come out now and trigger the usual 30 day PUSU deadline, which would end in the meaningless period before accounts.

The right time would be the day after the accounts are published. They can bid 31p and ask 30 days time to confirm the offer after due diligence. Institutional investors will of course prefer 31 p to 30p and withdraw support to Sidara and the November 12th meeting will be a non starter.

I believe there is a chance of >50% of a bidding war.

Response from AJB to my complaint this morning:

“In line with our governance framework, we will be maintaining the existing purchase restriction at this time. Existing shareholders are free to sell their position via the website or with our Dealing Services Team on “ 432 600. We will continue to monitor market developments and should the position change, we’d be happy to keep you informed.

Whilst I appreciate this must be very frustrating for you, we have the right to alter the range of permitted investments on the platform at any given time without notice as stated within our Terms & Conditions which you agreed to when opening the account

Please can I ask you to confirm if you wish for us to treat your concerns as a complaint?”

I wrote back as follows.

“ May I request you to kindly treat this as a complaint?

Your response that you restricted the purchase of the shares without providing any rationale for the measure sounds illogical and unreasonable.

Your restriction, while all other trading platforms were allowing the trading, put me at a disadvantage and caused monetary loss.

As a service provider,it is expected that when I have put my funds under your trust and request your action to process a legitimate, normal transaction at the stock exchange, you are duty bound to carry out the instruction. Your suggestion that a general clause in the terms and conditions agreed with you provides immunity for random acts of selective arbitrary curbs on my trading activities is unreasonable. It is a well known legal edict that no contractual terms agreed between parties can be used by one to justify acts that goes against principles of natural justice against the other.

When I attempted the purchase the shares were trading at 1.15p and went up to 1.50 at which point I would have sold with a profit of 0.35p per share. I was trying to place purchase orders for £7500, which you may confirm with transaction records. I estimate the loss on account of the restriction on trade is about £2700.

I request I may be recompensed for this amount.”

I will wait for their response.

Sorry for the longish post. Might be of interest to others similarly impacted.

Just wrote to them demanding compensation for missed opportunity. Will take up with the financial ombudsman if required. AJ Bell had my money and are legally bound to process my orders through LSEG. I pay a service fee and it is a legitimate expectation that they are obliged to fulfil.

Unable to sell the shares I hold and not accepting buy orders. AJ Bell. First time I have this issue while trading. What is going on?

Sorry, the subject should read quote instead of quite.

Why to come out with a 'firm' offer now and not wait for the accounts to be published? Is this some sort of scare mongering to make the shareholders toe their line and actually feel relieved to get their 30p?

Is this some sort of a trap? To come out with 'you didn't tell us that' crap we so often see in real estate deals, and drive the price further down?

This strategy will work if no other bidder comes on the scene. But I feel if this is worth to elicit a 30p +50p offer from Sidara, (which certainly is a low opportunistic bid) there should be others who are tempted to have a closer look.

It looks like it is only a matter of documentation, perhaps the phase where the lawyers and company secretaries get busy to put whatever is agreed in their obscure legal language. Should be over by today I reckon. So it will be a firm offer for 30 p by end of the day.

I am sure there are peer companies with synergy in their business with Wood and other investment companies having more than a passing interest to know if Woods predicament offers an opportunity. All they need to do now is to express an interest to do due diligence and ask to share all details shared with Sidara. I think Sidara's evaluation efforts of last few months will make it easier for them to understand the situation and decide if they would like to bid.

It is a motor question if any of them find a higher value and comes out with a higher bid. I believe it is certainly a possibility as Sidara would have started with a low floor bid, as any sensible bidder in their situation would do.

Why would Selan payment 14m for ghe Cambay interest when they can buy the whole of Syngenta for 3m, its mcap?

Something doesn't add up here...

EPS for 2025 is 6p. At current market price the PE works out to about 23?

Of course this is only an academic exercise, the share price is expected to go up based on the recent spaceX news, and not due to PE or such fundamental analysis.

It was languishing below 60 for years and then almost doubled in the last 4 months. Many would have made a good profit and probably decided to take their profits. The uptrend should be back quite soon and we should see 170p+ in a matter of days on the back of today's great news I would think.

I cannot believe that Wood will disappear into Sidara's folds without a whimper. It is too valuable as a company and a brand to do so without any takeover interest from peers and investment companies. I think we can expect an expression of interest anytime now, most likely once the accounts are revealed in the next few days.

30p is a low ball offer, as is the norm in such business situations, Sidara might be prepared to even double it if there is competiton. Doubling it will increase their outlay only by 35% effectively from 85 to 115p.

To me a 50-60 p takeout offer from the winning bidder seems a possibility, fingers crossed!

Https://baghdadtoday.news/277979-50.htmlAn

informed source revealed, on Sunday (July 6, 2025), the details of the draft agreement between Baghdad and Erbil, which is scheduled to be submitted to a vote by the Council of Ministers in its next session on Tuesday. The source told "Baghdad Today" that "the draft was prepared by the Prime Minister, Oil Minister Hayyan Abdel Ghani and Foreign Minister Fouad Hussein, and will be delivered to the Council of Ministers for a vote in Tuesday's session."He added that "the draft includes the delivery of 280,000 barrels of oil per day to Baghdad to Sumo, out of 400,000 barrels issued by the region, while 120,000 barrels are allocated to oil companies."He added that "due to the inability of the regional government to pay the debts of foreign oil companies, they will be given 120,000 barrels of oil deducted from debts. "He pointed out that "42,000 barrels of oil will be kept for local consumption, provided that Baghdad will provide support to the region in the field of local fuels, including white oil and gasoline. "He pointed out that "the Emiratization file will be postponed for four months, until the completion of the transfer procedures and the opening of accounts in the three federal banks," noting that "the region will deliver 50% of its internal revenues to Baghdad, at a rate of at least 100 billion dinars per month."In the same context, an informed source said on Sunday (July 6, 2025) that negotiations between the federal government in Baghdad and the Kurdistan Regional Government have entered their final stages, in a step that opens the door to a long-awaited comprehensive agreement. The source told "Baghdad today" that "the dialogues between the two sides have reached very advanced stages, as a draft final agreement is currently being finalized."He explained that "the expected agreement will include the re-export of the region's oil, in exchange for Erbil's commitment to deliver revenues to the federal government, as well as the immediate initiation of the localization of the salaries of the region's employees."The source pointed out that "if the final draft is approved in the coming hours, the Federal Council of Ministers will approve it in its upcoming session on Tuesday, after which the disbursement of salaries will be officially launched."This development comes after months of talks and demands, amid wide popular anticipation in the region to turn the page on delays in paying salaries and ending outstanding financial differences.

Kando, you are right, most certainly it is unwelcome. Probably on Monday we will know how the whole thing plays out, few other key things are coming to a head then.

The redeeming feature for wood is that they identified the irregularities and, on the face of it, fixing it with Deloitte etc. It is not like FCA suspected something murky and are stepping in to set things right. I think FCA will be looking more at the role of certain individuals and find out if any criminality is involved and if so, did the company act scrupulously to ensure justice to all stakeholders.

For all we know the investigation could just be a sideshow and may not largely influence the path wood takes to its ultimate destination in coming months.

Sorry missed mentioning the reference in my message below.

Very good poser my friend. It was crossing my mind all the time i was responding. One thing with petrofac is the debtor's are gone. They have become shareholders now. And they should have convinced ADNOC that the fund flow during project execution will stay positive. Not sure if they were in a consortium where I think the partners sort of cover each other and the combined net worth is looked at. And they would have convinced a financial institution to provide performance guarantee. How they managed this is a mystery. Maybe others up-to-date on this could provide clarity.

Banburyboy,

"So the bottom line value to WG is $400m less expenses and the wages of the 500 boots on the grounds the RNS mentions."

Not sure if the boots are included in the engineering fee or separate. More common is they are included. There might be a PMC team (project management consultants) which might be a reimbursable.

You had also asked if the job is standalone for wood or a consortium. To me it looks like standalone, reading through the RNS and newsfeeds.

Kando, do you think ADNOC will award the contract to wood if they say we are not going insolvent, just need to restructure our capital?! Don't you think there are risks involved? What if their plans to restructure comes unstuck? What if lenders go to court and stop the process? What if rights issue is not subscribed? Why should ADNOC get into this nightmare when they can go to another contractor?