Member Info for Robert1234

While the deal is structured as a fixed cash offer, a reduction below 30p remains possible under specific circumstances governed by the UK City Code on Takeovers and Mergers.

Material Adverse Change (MAC) Invocation

New revelations from the FCA probe, worsening debt issues highlighted by the accounts, or audit true-ups could allow Sidara to renegotiate.

This is my research using AI but I do have the knowledge to contradict the above. I hope you guys have and are correct.

Davius, I thought that they could use MAC because of the poor accounts. The 30p offer, though firm was conditional.

It will be a 'yes' vote but we are sat at 22p because the expectation is for Sid to drop it's bid to 25p.

To the tune of ‘Money for Nothing’ Dire Straits or Ray Charles, "I'm Busted"?

If they can reduce the offer to 25p then why not 20p or less, with no alternative for Wood.

Finley1, Wood is like you say a car crash regarding its finances. But what it does is critical and Wood is one of the best. That is of great value to someone with deep pockets and the knowhow to sort the books and profits going forward.

Urraca-

This is what Ice is referencing though I do not agree with his interpretation of item C.

The announcement by Sidara of any firm offer for Wood under Rule 2.7 of the Code (an "Offer") is subject to the satisfaction or waiver of certain pre-conditions, including:

a) legally binding agreement(s) in a form satisfactory to Sidara being entered into in respect of the Debt Modifications and the Sidara Liquidity Arrangements (as defined below);

b) the publication of Wood's audited accounts for the financial year ended 31 December 2024;

c) the unanimous recommendation of such Offer by the Wood Board of Directors and irrevocable undertakings from such directors who hold Wood shares to vote in favour of the Offer;

Cancellation of listing of Wood Shares by 7.30 a.m. on D+3

'D' day being next year as per 30th RNS.

I have no idea if that means we will be trading until then.

No.

Wood shares are driven by the powerful and greedy. The time will come when all is destroyed by the powerful and greedy (Wood is sold for their own proft at the expense of shareholders) until the economy is destroyed, unless we evolve into something better. Darwinisum at its core, we will be better because we must.

I usually get an email with a link to proxy vote which I don't think I have received.

No chance of a bidder now IMO. That's like someone standing for election after half the votes are counted and when the electorate didn't know there was another choice.

It makes no sense to me for anyone to bid after the voting starts. Anyone know when the voting begins if not already?

Frogglesboggles was Head of Stationary in the fictional Wood management team. I'm sure he could supply a fictional sharpy, then write (Ken) on one of your golf balls to aim at a suitable window.

I'm going with Froggles. The Head of Stationery always knows everything because they can read all the secret documents out on people's desks without suspicion.

Thanks a lot guys, very informative and much appreciated. My nerves are a bit on edge this week after months not needing to worry about my money while suspended. I threw the kitchen sink into this share to average down before suspension so I'm worried I could lose the lot.

Surin, I am confident 75 percent will be achieved but I'm not convinced Sidara will still want Wood. The market is most definitely unsure about something because the SP should be higher.

Not being an expert myself in any shape or form, but even I can see that watching institutional investors slip out of the backdoor (if indeed that's what is happening) is the beginning of the end. The smart thing to do is say nothing and leave someone else to hold the can.

Geng, who in their right mind sells low in the 20's if they think anything positive is coming? Where is the gain in that for Blackrock?

we need 'experts' to answer this without any bull**** as they are to many rampers on this board.

I cannot see how this is good in anyway.