Member Info for ryanf

No, not worried about the increase in shorts now. The last time they increased was just before the takeover announcement, so those increasing over the past week are likely sitting on heavy losses.

They were increasing their shorts for a reason, as much as icecool wanted to suggest there isn't a liquidity crisis at wood, there is.

The fact the BOD is exploring a sale and so quickly after poor results is good for those who got in recently but slightly worrying that they almost have to get the deal done else they have lenders knocking.

Pure bid play, which you never sell before allowing the price to run close to the bid, suspect Sidara are serious this time because I can see a deal being done at 100p, much less than 230p.

Can we all commemorate RickEngland who was boasting he made £184 when he sold at 27p. Hope those few breakfasts down Spoons are enjoyable, Ricky

You don't sell takeover talks in the beginning. Let the price go.

Icecool, takeover talks earlier than expected! Haha

Icecool, not sure revenue and EBITDA are that relevant, don't we need the FCF figure to measure liquidity?

But yes, revenue and EBITDA can help determine the level of FCF. More revenue and more EBITDA often leads to more FCF, but FCF is king in this instance.

Anyway, enjoyed the discussion. Hopefully Apollo or Sidara come back at 100p and none of this will matter.

Again, an emotional response to a simple question asking for figures. My question to you is, is £320m (£470m current taking off £150m negative FCF) enough to keep Woods lights on? For the size Wood is and their outgoings, I don't think so. Btw neither do the BOD, else they wouldn't be selling off assets.

Whose argument has more weight now I've given a logical argument with figures, rather than 👍 and 💯 emojis...?

Thanks, I'm happy to be off the mark since I'm long as think a recovery is likely, but you need to give figures else you're just spouting empty words. Wiggly thanks for the £470m figure.

Icecool, can you tell us how much liquid cash they have, to make an assumption that this isn't a liquidity crisis?

They're selling off assets to offset negative FCF. If they had sufficient liquid assets, they wouldn't be selling off assets, they'd just use the cash they had in reserve.

The crux of their issues is high net debt and negative fcf. They've said they're targeting $200m through disposals to offset negative fcf this year of $150m to $200m.

If they didn't have to refinance debt, they'd be in a less perilous situation.

Don't think they can only rely on disposals alone as the lenders will pick them apart, if trading is really bad, then it's debt for equity then we're all wiped out. The Shell contract was a good win, but they need more. No more excuses Ken, time to earn your CEO salary.

The D1 shares are not tradeable on the open market.

It's obvious they have governance issues. The main problem will be if they mis-stated their accounts. But if that hasn't been mentioned then that's hopefully a good sign.

Wasn't the demerger supposed to increase the share price...? Painful.

I agree Wiggly but it's often difficult to get the buyers to re-engage after they walked away once.

What buyout would they realistically get at these levels? 60p-100p? Doubt that is in the interest of most shareholders.

It'd be better for a clear-out of senior management, which they have started (CEO should go in a few months once the business has stabilised) and return to making the business FCF positive through focusing on core profitable areas.

How far on the spectrum are you?

Come on, Petrofac is different and you know it. Petrofac had -£310m EBITDA and -£495m net loss at 2023 YE ffs.

Or in Woods case, 1 step forward, 55% back 😂

Icecool, only by name. Your ramping panicking is doing my head in. Give it a rest.

Icecool and pokerchips, would you mind getting a room?

Auction!

This isn't the same as petrofac, but it's being priced like it is.