Member Info for Sm66

According to stockepedia full year24 report is due for release today. Haven’t seen it written anywhere else and suspect it may be delayed until the Deloitte review is complete.

Rightyho

Sorry but if you seriously think that a business with $3B in assets $6B order book 35,000 employees globally that not so long ago rejected an offer of 230p because it seriously undervalued the company.

If you really think it’s only worth 70p then you’re delusional. The average share price over the past 12 months was around 120p and that was on the back of high debt levels and an expectation of becoming cash flow positive this year, that’s now been delayed a year. It doesn’t justify a drop from 120p to 21p and doesn’t mean the business is only worth 70p. Many sensible posters on here are making a best guess around 165-180 and that’s based on a 30% discount from what sidara offered 6 months ago. Sorry if I come across as rude but I can’t see the justification in only 70p and I don’t think for a minute that II’s will accept it.

Now now, no need for childish comments.

Can we please keep this forum chat about wood and Sidara. We’re all entitled to an opinion.

Lol

Well if you’re correct tallies there will be many happy holders here.

Whilst Sidara seems a good fit to take over wood, if the BOD wants to sell the business then one might imagine they’d approach other would be buyers. Apollo attempted in 2023 and they’re not mugs, one of the largest private equity houses globally. Clearly Apollo saw an opportunity, who’s to say others aren’t waiting to see how this pans out?

JO

Now that you’ve rumbled tal lies and reported, hopefully they’ll give up and move on.

Job well done!

Whilst a no deal scenario is always possible, I think it unlikely given the speed at which Sid came back to the negotiating table after the 6 month restriction. A deal would benefit both companies and shareholders as long as the price is acceptable. If no deal then quite possibly the market will push back down to the 20’s however that’s the price of a failing business which we currently have no evidence of. Current management are restructuring the business to right size for the future and while FCF is expected to be negative in 25, if they can turn the corner and be FCF+ in 26 then the current SP will be a distant memory. All this will be part of the current negotiations for certain.

Hesham

I think your calculations are off regarding fair value.

EBITDA 450-460m FY24

5-7 multiples puts fair value at 2.25B-3.15B

Current debt 690m although average debt in 24 was 1.1B

Therefore using the lowest scenario 2.25 - 690 puts fair value around 1.5B. So just north of 200p per share.

I’ll add the latest company reported financials.

https://www.woodplc.com/news/latest-press-releases/2025/business-update

Make that 2 x 1.7m share purchases after hours.

Definitely 5.21% on short tracker

Sharamiser

After hours trades today 1.7m purchase at over 39p. Shorts reducing. That’s not playing to your narrative is it?

Another reduction on the 21st

Qube off the list. 4 left now. Wall eye increased

The price on lse, 6700!!!!!! Now that would be interesting

At the very least, we should get an RNS at 7am explaining what’s going on and a response from management regarding the FT article.

Poorly written article by the FT, there are a few news articles but none making assumptions about the price being significantly lower or mentioning people close to the deal which constitutes a leak does it not. To date, it’s been a water tight negotiation

Neither company have commented so how is this fact?

Anyone else consider the number of shares traded after close on Friday including the UT trade at circa 31m significant?

I think that’s roughly 5% of all shares listed, it’s also close to the number shorted!

There are some large institutions invested here. I’ll list a few, could spend a long time going through the RNS’s to find them all but too time consuming on a Sunday.

Vanguard 5.1%

Societe general 3.1%

L&G 2.6%

State street global 9.8%

Barclays 4.9%

Border to coast 1.9%

Marathon asset mngmt 4%

Was looking for blackrock but far to many RNS’s.

If anyone takes the time to read my previous post, you’ll see that there is a mountain to climb in putting a price on a business and so many variables. Wood failed the 2025 FCF + prediction and kicked it back to 2026. They’ve employed Rothchilds to restructure their debt, Deloitte are proving the accounts. It’s all being done properly IMHO. All this effort and expense is to generate a fair valuation, it’s possible that it’s all been completed but if not then an extension period will be granted. The SP will be manipulated until it can’t !

GLA

Https://etonvs.com/ma/m-and-a-valuation-techniques/#:~:text=Mergers%20and%20acquisitions%20(M%26A)%20valuation,the%20worth%20of%20the%20business.