Member Info for Sm66

I’ve also added 174k shares now

You’d think the shorts would be off chasing real opportunities in the market today. WG is way too soft a target for clever shorts. WG is already far to cheap already

Orange

All very sensible and reading into that scenario, they would have overpaid the taxman and be due a rebate. The books may actually balance better after the review completion.

Orange moon

Good post

So if projects accounts for 40% and for arguments sake worthless, which clearly it isn’t. Then with Apollo previously offering 230 and sidara also previously being in that ballpark deducting 40% from those offers sounds ridiculous but still puts the valuation at 138p. So in my mind that is the floor if of course a bid is forthcoming.

The FT claimed an offer will be significantly less than the previous offer. So what do we think significant equates to. 30%,50% I would think significant is unlikely to be more than 50% personally and that still puts the bid at 120p.

Yes they would but it would have to be at the highest price over the past 12 months so I doubt they will go there.

It’s a debt facility, the actual debt is 690m

The offer has to be relevant to what the business is worth minus its debt. Usually 4-5x EBITDA. The issue is that the EBITDA published is inaccurate, the question is by how much? Considering the project division made errors in reporting and the rest of the business is doing just fine the EBITDA can’t be that far away from published, and even if reduced by 100m it’s still 360m so a valuation of around 1.5B. Currently the Mcap is around 200m which is less than half reported EBITDA. It’s just not realistic and screams manipulation. 80%+ is held within institutions and they’re not selling….why is that?

Do what you want dummy

I think you’ll find the property market somewhat different to the stock markets.

Businesses are valued very differently, your trolling efforts are very transparent

It’s not the entire business that’s created this situation, it’s only one division (projects) that have by the companies own admission withheld information to KPMG. The other divisions of the business are not under scrutiny by Deloitte. So if projects was worthless (and it’s not) the business is still worth at least 2/3 of the last bid. So 150-170p current SP is nonsense

Icecool is getting quite the hammering chaps.

Ha has some valid points: the BOD’s may recommend a bid but this is a democratic eventuality, major shareholders will have to vote, therefore inspite of the current SP and dreadful RNS’s the business with its employees, customers and order book is worth something to a buyer. How much is with the gods now but I do wonder why the management are relentlessly kicking us backwards?

If you call researching and highlighting the positives in a stock you are investing in ramping, then so be it. What’s much worse are trolls trying to convince people that they made the wrong choice and to sell a loss. If you believe in a stock and put your hard earned into it then these chat rooms can be useful.

4.66% and 3 declared positions.

They reduced on Friday so certainly no longer in control and I suspect after today’s SP performance, they may well be all gone? Find out tomorrow

Sharabel end

You are a piece of work.

Sid approached WG with an all cash offer. Today’s shenanigans are exactly that, games the provider opportunity. The value of WG is not the current Mcap it’s many multiples and anyone with half a brain cell knows this

Surin

I couldn’t agree more.

It has opened the doors very wide for shorts to exit, I dare say, more than a few stop losses got triggered. Looking forward to tomorrow evening to see the shorts list because if they’re no longer putting downwards pressure on the SP it should start to return to its fair value prior to any offer being made and or all the resolutions being completed. Potential suspension is mandatory for late accounts.

I think of 120 offered, the SP will blow past that number as shorts exit

I’ve been tempted on 2 or 3 occasions to reduce ie:42/43p thinking it may pull back and on one occasion it did all the way to 33p but fear of the bid landing stopped me. Could have made an extra 20/30% . I’m in till the RNS lands with a bid, if no bid I’ll hold until the recovery to north of 100p

JO

Spot on IMV

Targa, exactly that

Current SP is in no way indicative of fair value for the business.

Even if worst case scenario:

Debt 1.1B although last reported was 690m

Assets 3B

Using the simplest equation it’s worth 1.9B

Then add 6.2B order book at say 10% margin

Intellectual value of 35,000 staff when there is a global shortage of skilled engineers.

Relationships with major oil companies etc,etc

I have to agree with @icecool. A quick rerate is on the cards with the possibility of any of the current resolutions being resolved. Options being Rothchilds restructuring debt, Deloitte finishing and or sidara making an offer.

Https://www.stockopedia.com/share-prices/john-wood-LON:WG./