Member Info for Stupmy

Well I never NM, doesn't count of course as it's not yet 5 where you are.

Scuba, you should focus on the company, it's difficulties, how it'll navigate them and whether or not the SP represents value here. The rest is fluff.

That's quite specific, why do you expect this news after 5pm today? What's the rationale or source for that?

Thanks Bigw77. Interesting read.

Pleasant surprise so far. I thought that by implication there would be further concern about management following the FT's revelation that Bala had fibbed on his c.v. But without evidence of poor performance or worse in previous roles at RR and Shell (16y worth), there's a good chance that the loss of his position was purely due to being called out. They really need to avoid further negativity.

"Are you buying if the price hits 19p which is your stated target?": I suspect that lower prices will be on offer today, but only time will tell

"Wood May Need $400 Million Capital Raise, Kepler Analyst Says" "It will be multi-bagger in couple of years.. ": If it needs 400 million from a SP of 20p that would imply issuing 2 trillion new shares in the absence of someone buying WG out. with 680m shares in issuance that implies a 3 fold dilution of existing SH and a SP of 7p or lower. If that were to happen, then you'd need a 3 bagger simply to get back to 21p.

"Whether or not it was already decided the CFO was to go at this point is not clear but I feel he was prob on extremely thin ice." :"I had the question Why did this have to happen before the March update? As others have stated, Reeves and Starmer have also embellished their c.v.s (don't read into that that I'm a fan of lying). "Seems the FT challenged the CFOs qualifications." I guess if that's true, it might explain it as it would have turned into another story. Taking a more positive view of this, Bala previously served at RR (2y) and Shell (14y) and this mornings articles don't mention performance problems in his time with them. If there had of been, you'd imagine he would not have been taken on by WG. I'd imagine that there's a pretty good chance that this difficulty is actually limited to his fibbing on his c.v., but that in the current storm around WG it was a negative that needed immediately dealing with.

"it's not as if the bod have been doing a good job!" I think that's clear. The fact that Bala got away with his lie for so long shows a certain laxity on the part of the board, but presumably also RR and Shell if he'd claimed that status there also. What a mess.

If you wanted to try to view things with rose tinted specs, this latest piece of news might actually add nothing to the story other than to further shake investors confidence.

I'm with baronbog on the possibility of a t/o. I think it's just wishful thinking.

NM, we were discussing losing board members. I'd thought it might be CEO/CM and I'm not sure they're out of the woods (no pun intended!), but it's the CFO that's gone. We (I?) had hoped for changes and we now have the first of those changes. Inconveniently before the March Q4 earnings. There's no way that this is not going to be seen negatively, but it's out of hours news so there's nothing we can do but wait and watch the reaction tomorrow. What a stinker this has been so far.

I'm hoping that the CFO going is related to his misrepresenting his qualifications and all other aspects are as stated up until now. I did check back on his record in a facile way and am surprised as he's got 23 years experience (from memory) including as stated by others with RR.

PC, what would it now take for a suspension of trading? Do you know? Seems that the negative news is coming thick and fast at the moment.

That wasn't really my point. I was just suggesting that the things we hope will improve SP performance, div, share buy backs, significant M&A activity etc are apparently not doing that at all. Even boing back to PMO/Chryasor there was no sustained rise in the SP. When the PMO/Chryasor reverse merger took place there was a lot of debt, that management brought down (arguably saving PMO from bankruptcy). No sustained rise in SP. I hope it's 'our turn' soon. But I feel a bit despondent.

KO, HBR completed it's transformational deal, diluted the fiscal problems related to UK production, are paying an 8-9% dividend and the SP is at the low end of the Trading range it held before the transitional deal. It's a bit depressing that these companies don't seem to be able to provide give capital returns on equity. Even our share buyback didn't improve our situation. It really is a bit frustrating.

Why is that? Why is IAG making progress wrt SP vs EZJ? Is that related to long haul flights? Transatlantic exposure?

Good luck thumper, speculative level, but you never know!

Wonder if around 490 will act as a support. That's a potential ising tl support from Aug 5th 2024/Jan 23 2025/then whatever the next touch is. SP looks to be lacking buyers this morning so I think there's a good chance we'll see 490ish.

I have some sympathy with PC's view. Also "well as you know, they are constantly inside and are unable to sell"

I'd like to think they'll not be 'inside' for very long. I really do think the CEO and CM are in an untenable situation. I guess nothing will happen until March at the earliest. Interestingly the CM and the BoDs might face a significant shakeup at sometime after March and it's technically them that would push the CEO out. Might be a lot of change after the next update. The most frequent reason for CEO's to be pushed out is poor revenue performance. That's demonstrable here. The CM is supposed to oversee high standards of governance and he's been in place as CM for 5 years. He's had time to demonstrate he's all over governance like a cheap suit, but doesn't seem to have been. He's actually got 18 yrs experience at BP including as head of mergers and acqusitions. So unlike Gilmartin you'd have to imagine he has a lot of relevant experience. Not sure what his role was in the Amec takeover (some on here have suggested that wasn't a great t/o).

Gilmartin has been at WG for 3.5 years and has been CEO for 2y 8mths. He was COO for 11mths before that. It's not obvious that he has a great deal of experience in the O&G industry or Engineering.

Hotprik, out of interest what encouraged you to sign up for LSE Chat today? Something must have made you decide that today is the day.

Mancunian77 yesterday 10:03.

"At the very least, until the unfortunately longstanding Chairman and especially the CEO depart ASAP, WG. will remain a market joke much worse than PFC ever was where there will be no bottom here, just review what’s been happening with them both at the helm, it’s crystal clear and no rocket science!"

What is wrong with you people?

If it's of interest, you can access lots of stuff on MM's and how they can influence prices on youtube. Try Litnomad for an easy, high level view of stuff that happens.

"‘Logic suggests’ well that made me smile with this one! Afraid logic went out the window a while ago but I have added further….. just in case it prevails"

Might be worth having a think about this. The SP action Friday/Monday, looked extreme. The catalyst was the RNS but that just set Coco's Uzi in motion if you like. My best guess is that it was extreme because of the previous drops (35% Aug and 65% Nov 2024). My guess is the first made WG look like a bargain and brought in a lot of bargain hunting money. The 2nd fall shook some of that money out, but also made WG look like a double bargain to some and may even have led to buying on leverage (almost certainly a lot money flowed in). You can see that the outflow was huge compared to the previous drop, by looking at the volume. Eyeballing it, it looks to be double the volume on the Aug drop. Then this 3rd 'event', around 70%, has shaken out the much of the previous (possibly leveraged) bargain hunting money. Again, eyeballing it, the volume looks to be around double the Nov event. If you subscribe to 'omne trium perfectum' (everything that comes in threes is perfect) then 'this is the one' to be involved with. Of course that's stating the obvious, the previous two having proved themselves to be a bit s h it!. Anyway, fingers crossed, we've seen the low and the price will creep up from here.

I have to hold my hands up to that PC. It's me that posted that there was no MM in the middle of the SETS trades. Happy to be corrected.

Can't access it in France, is there another source?