Member Info for shandypants2

I'm with you Futurehire - i've topped up massively at 22p to 24p as the discount is just too large. With 30p pretty much guaranteed in the next 6 months that's over 20% return (so 40% annualised) and i will probably start top slicing if/when the share gets to 27/28p in a week or so when the Sidara money is confirmed.

People say there are better opportunities in the market - but never say what they are!! Feel free to provide company names !

The GM is to approve the 2024 accounts, the director remuneration and re-appoint the Auditors.

Whilst a tick box exercise i wonder if it is needed prior to the Sidara payment

Well our broker has a 12p target price so it would eb nice if we could get to at least 50% of this.

Need the 2025 targets to be hit of course and we are 4 weeks away from year end now.

The general meeting is a tick box exercise.

Receive 31/12/24 accounts, approve director remuneration and re-appoint auditors etc

Hope so as this will be positively received, maybe c 10% increase in the SP.

It will hopefully also stop the speculation as to whether Sidara will complete the deal - a non story IMHO

SNX appointed a new broker , Singer Capital, a month or so ago.

It would be good if they could publish some coverage on SNX as we complete our Nov 2025 YE as this share really needs some positivity and it is their job. I have emailed them - no reply yet received

I think the $250m funding from Sidara once paid will confirm that the deal is almost a formality. Until then there is still some uncertainty - hence the discount.

With the GM on 11/12 does this mean the Sidara money will not be paid/made available until after that date?

IMHO the deal will be completed so the over 20% discount looks very generous

A general meeting has now been arranged for 11th Dec.

The pieces are slowly being completed

Yep, all metrics are going the right way - revenues, PBT and cash so very little not to like here.

Even with today's increase how this is under 50p is somewhat bizarre.

It looks like the generous dividend (c5 to 6% yield) will also have a nice tick up in early 2026. Assuming it is c50% of cash i suspect it will increase by c10% from last years 3.3 cents (it has risen each year for the last 4).

This was as per the original proposal ..

"Sidara has agreed to provide a capital injection of $450 million to Wood. Of this, $250 million will be available upon shareholders approving the Acquisition (or, if Bidco chooses to effect the Acquisition by way of a Takeover Offer, within 21 days after posting of the offer document). A further $200 million will be available upon completion of the Acquisition."

I think i remember reading there was a period of up to 21 days following the vote for the $250m to be made available.

I suspect it will be late this week/early next.

Be interesting to see the SP once this hits as any uncertainty re the deal will be 99.9% removed. 27 to 28p is my guess

Malcolm it has already been explained.

1. Uncertainty until Sidara pays the $250m - due in next week or so

2. Opportunity costs - maybe 5% up to 10% discount as deal won't get completed until sometime in 2026 - no date yet agreed

3.. MM games, predominantly due to 1

To question Sidara's commitment is a bit desperate IMHO. To put this offer together they have no doubt spent many millions in legal expenses to date. They also can't just walk away unless a specific condition of the deal is not meet. To date everything has been achieved as per the timescales.

Once the $250m funding is paid - which will make it almost a done deal - hopefully the noise will stop.

The only discount at this point should be opportunity costs - tying up money for c6months. Between 5 and 10% IMHO.

As the SP is currently trading at a 25% discount there's good money to be made in a couple of weeks.

Has the bottom now been reached?

With so much cash maybe a share buyback or a special dividend might be in order? Even a whooping 20p special divi would only cost c£3.3m and i think cash at YE should be over £14m

24p to 30p (so 6p uplift from 24p) is 25% upside BTW.

Things will calm down here and the SP will rise when Sidara pay the $250m (or made it available to draw on) which is payable within 21 days of posting the offer document.

Once this money is made available the chance of Sidara walking away will be almost zero IMHO.

Yep the share options (not for the CEO who already has over 20m shares) start at 9.32p and the bulk are at 13p so surely someone knows something as the SP is 50% below this and has been for most of 2025.

To start with 2025 YE numbers need to be hit, or be close to (£28m rev and £3m EBITDA i think). This should produce a PBT of c £900k which is much need after 2 years of big losses following cashflow issues and then restructuring. Cash should also improve, as it did in H1. As we are less than 6 weeks away from YE i am reasonably confident of this., albeit aware of the weather warning that could push some solar installation into Q1 2026.

H1 still had a couple of one off payments, and this needs to stop going forward as it is difficult to value and trust a company when so many one off events keep occurring.

It does seem that the foundations have been reset now and 2026 onwards gives the company a more solid balance sheet to go after big and longer contracts. I would expect EBITDA and PBT to start rising quickly from here.

Being a preferred supplier in GB Energy can only help IMHO

Today's H1 numbers are underwhelming. Despite the low valuation and undemanding PE the company appears to be flatlining.

The acquisitions of Emma Hardie (surely too upmarket a brand for CRL) and Brodie and Stone don't appear to have added any value.

Found this podcast from October that mentions SNX.

Justin Waite is like marmite, you either love or hate him. Previously he did have a habit of buying into a small stock, ramping it for months and then slowly selling on the quiet.

These days he has his own investment club, so there is less free stuff available. He focuses on small caps and is now more risk averse. He likes small companies that are growing, have a solid balance sheet, and are making a profit or at least reaching profitability.

Not surprisingly he likes SNX as they tick all his boxes.

https://audioboom.com/posts/8792810-markets-are-down-gold-is-up-again-is-something-broken

Not sure about a trading update for YE as the 16/10 one was so accurate, i'm not sure if there is anything else to say.

For YE (so 30/11) we were told rev would be approx £67m and PBT would be no less than £5.7m (up from £4.7m the previous year).

Unless the Rev and PBT significantly increase in the 6 weeks between the RNS and YE i'm not sure what they can report.

Potentially, they could tag it on to the next new contract announcement.

FFS, i suspect there is someone reducing their position as there are have been regular 5k sells over the last week or so.

This happens, just sit on your hands and let things settle down.

Value will rise to the top, eventually