Member Info for shamI89

"Suggestion" I like it.By the way BOD would only recommend something if it is best option available.Otherwise they would have rejected straight away.Alternative scenarios are administration,D4E and highly dilutive rights issue.

Accordingly, the Board of Wood has indicated to Sidara that, should a firm offer for Wood under Rule 2.7 of the Code for Wood on the terms of the Possible Offer, it would be minded to recommend such an offer to Wood's shareholders, subject to agreement of the full terms and conditions.

That was in April update,so looks like BOD has recommended it.It would have stated otherwise.Do you know how to read?

Try telling this to BOD as Sidara is injecting cash and offering macimum 35p which can be lowered.Sidara will inject some cash and will be taking care of debt.If it withdraws bid shareholders will be injecting that cash:D4E swap or highly dilutive rights issue,take your pick.

That is bad news if lenders are taking hair cut then equity would certaintly have no value.

I did say that Sidara's bid will be much less when peoole here were throwing all sort of numbers.Rest is history.Luca bought in and he had an interesting investment criteria as his investmwnt decision was based on fact that as a daily wager he always got paid By wood group so there is no reason lenders would not get paid so they wont pull the plug.However half way through he shat his pants and sold at a loss but decided tp get back in before suspension.Sidara will have to choose a nunber between 1 and 35 and they wont pay 35 if they can get it less than that.Shareholders would have to brace for D4E swap if Sidara walks away.

It is pointless to have this debate right now and this is a sector wide problem in my opinion,Carillion had it,petrofac has it and there are many others.Most of these contracts are won on paper-thin margin and a slight delay can lead to loss.Unlucky for this company,most of its assets are intangible assets which cant be sold to raise money.Tangible assets are not enough to cover liabilities!

Waiting for results before making any decision.That is not to say they wont take advantage of thinks if it see any weakness.

That shareprice will take another beating if Moulding fails to outline any strategy to unlock potential.He is either too stubborn/egomaniac to bring in someone new or he is deliberately trying to distroy this company.

Lost trust in Moluding's ability to turn this around and control freak like Moulding wont go away unless he is forced to.Funny thing is he thought he can inflate share price through that "bid".

If previous management was allowed to carry on working, company would have been in much better position.Kamanies decided to butt in and rest is history.I think Kamanies were never interested in turning that company around.

Looks like it is an attempt to inflate shareprice before getting a placing away.What a mess this company is in!

Well Kamanis call the shots there and looks like they have deliberately run that company into ground.Previous management was doing a good job until Kamanis decided to remove it and new management has no clue.

Bod would want to keep on spinning these lies as far as they can as mintue it admits that it was a con and there is no asset, mug punters will start dumping these shares.I do think that majority of mug punters know that it is a con but they are too deep in it to exit.

Problem is mug punters dont engage their brains.Why will any regulatory authority give any asset to this company when it does not have any money to even fund a drill or it has not produced a drop of oil in ten years.PSC is where a company explores and develop assets and spends money and government gets revenue.Why is this company moving away from Sarawak after 8 years.Mug punters only found out that application for exclusive "psc" has been rejected when Petros released that article.

Mug punters cant handle the truth, it is stupid to think that Brunei will give that "asset" to a company which has not found a drop of oil ever, dont even has a money to fund a drill and has been surviving on placings.But again that is what company wants mug puntets to believe as they will be funding them big salaries.

Previous management was expanding sales and revenue but Kamani got too greedy and decided to bring in his own people.Shareholders will be wiped out at this level.

Buisness was not doing too bad under previous management, kamanies have managed to mess it up now.

Funnily enough BOD has shifted its "focus" towards Brunei when market wanted to know about "PSC" it looks like that block would be offered through competitive bidding and this company stands no chance.But mug punters need not to worry as we have "Brunei" now.Comedy gold this is.

Is out of his depth, he rejected Apollo's bid and then it was time for him to deliver. what has happened here is sheer incompetence.Last Fake bid was created to cushion falling shareprice and that has backfired.Market has lost trust in him so may be it is time for him to step aside and let somebody else deliver.

Mahmud Kamani has killed it due to his greed.Previos management was on top of things and company was expanding.Kamani brought in new people who have no clue.What a way to destroy a decent company.