Member Info for Rock8

I think Bob is right will start trading before end of Oct (day after 2024, 23,22 numbers) as they want to retain LSE listing until everything completed.

"2. This disposal RNS at a significant premium changes the circumstances completely, it’s now in the public domain. The advice is now old and needs updating."

This would have been uncovered during DD - All asset sales.

Bob182071

Thanks Bob and good luck to you!

The company has secured years of unprofitable contracts.

The middle management tried to cover it up to achieve bonuses.

BUT

The debt has made a solution impossible without shareholders being diluted to near zero.

There is a solution and that is what Sidara or another possible bidder with financial resources could offer but only if done quickly.

I am equally frustrated but it’s nothing to do with ‘brown envelopes’ - Why do PIs always invent this utter nonsense.

The ultimate stupid ‘conspiracy theory’.

The drop from 35 to 30p was due to the FCA probe uncertainty and the low ball offer is because the company is in dire straights with debt and only one interested buyer ATM.

Hopefully we get a competitive bidder?

That’s the only hope for us right now.

Unusually busy towards close.

Up tonight.

Ice stop arguing and just watch it unfold in front of you.

I suspect you will soon disappear in disgrace.

Selling a profitable bit of am unprofitable company seldom works unless you the company is absolutely desperate.

They only did it to attempt to mask another profit warning!

Not true.

The accounts are not late for HMRC it’s purely a stock exchange issue.

Until the accounts are re-issued for 23,22 the original accounts still stand.

The accounts were never an issue for institutional shareholders.

They will listen to the BOD and I am sure the BOD will give a rationale for their recommendation including a 2025 trading update.

Icecool

I understood that Sparta were a seller prior to suspension and that whilst they still hold a reduced position it is using derivatives without voting rights.

Sparta will be no help and effectively neutralised.

They will take the deal IMHO.

Would not be surprised if we get a 2025 trading update along with the unconditional offer from Sidara tomorrow.

I expect the 2025 trading update wont be pretty.

We will certainly get a time lime to shareholder approval - It will be fast especially if trading update shows things are deteriorating

Not sure I agree with your reason for the change but it clearly means we will get the offer tomorrow likely with Institutional support.

We don’t know the reason for the possible drop of the account publication requirement but but guess is that it is the lenders unwilling to wait for the auditors to release the accounts.

Whatever Sidara have flagged the possible change.

Just a reminder the lenders debt extension was to the end of Aug anyway.

My guess is that they are spending the 3 days sounding out the Institutional shareholders to ensure they have enough support at this lower price?

Kando

Easy to miss in the notes of yesterday’s RNS

That’s why 3 days could be enough time

Sidara are reviewing the publication of results requirement(see final few words in notes below).

“Notes

1. The Possible Offer was subject to a number of pre-conditions, as set out in Wood's announcement of 14 April 2025. The Possible Offer was also subject to a number of reservations, including under which Sidara can make an offer on less favourable terms, as further described in Wood's announcement of 14 April 2025. These reservations included the ability to make an offer on less favourable terms with the consent of the Board of Wood (which is the reservation Sidara intends to rely on if it makes the Reduced Possible Offer). The Reduced Possible Offer is also subject to the same pre-conditions and reservations set out in Wood's announcement of 14 April 2025 (except that pre-condition (b) relating to the publication of Wood's audited accounts is under review by Sidara).”

ok not the end of the world but costs me c.£20k.

not ideal

so slightly ****ed off.

I am disappointed we did not get 35p but once FCA probe started it was going to cost us shreholders.

We were at 35p before the FCA risk got costed.

I thought they were supposed to protect investors?

Actually the complete opposite.

The FCA are the reason its only 30p you utter fool