Member Info for Surin

Ninety one clearly exiting. Societe general increased their stake

There will be an extention today. No bad thing, as we prepare to go into suspension if we want alternative/new suitor to emerge, although uncertainty not good for employees nor clients

Christo, sidara need shareholders to accept, and bod to continue to support

Past Sidara offer was some 1.4bn. They sold Worley, and are sitting on cash, 1.4bn or whatever from sale. Sidara could use that money to make Wood Debt free/debt light. Enjoy the returns from the order book and cleat organizational capabilities inherent in the Wood Group, and offer current shareholders an acceptable deal. Hey if you can buy a house worth £10 for £3 (or less), why wouldn't you. Is WG a distressed seller? if the creditors pull the plug....

Remember that WG wrote off over 800m from their balance sheet...about 25% of non-current assets. I thought, however they had enough cover for their credit. Its the Deloitte report highlighting , I assume very large, misreporting/failing to review/re-assess etc in a limited number of projects in the projects division. All else seems clear- turbulence yes, fatal...sidaras offer is not indicative of that.

Captain what makes you think WG need "...£450m so in other words 3x current market cap.". From what I understood they have a 2025 anticipated cash shortfall of some 200m on a turnover of some 5-6Bn. In the grand scale of things, it does not seem significant. The restatement of accounts and impact is what to watch out for in my thinking.

In Crystal Amber Fund case, I think CAF was the largest Institutional shareholder. Here it is Fidelity

Ice, an EGM would require an activist investor who is able to push and garner support...I think the Cystal Amber Find dis that at Hurricane energy and De La Rue

I should add that I suspect the projects division was able to exercise a high degree of power in the organization

Ice, I am not surprised they value sh's bottom of the list, they are a professional engineering services company that puts engineering first and foremost (seems to me that is why there were issues in the projects division- other head of divisions seem more managerial/finance orientated)

From my teaching days there are two types of negotiation integrative (win/win) or distributive (win/lose). All negotiators have an ideal settlement, realistic settlement and fall back position. Seem to me KG is presenting the offer as win/win, when in fact the share holders lose and Sidara wins. He has confirmed that he has no negotiating strategy- and has gone to fall back position at the outset. Until we see the accounts, hear from creditors, consider alternatives etc the whole thing is crazy. My 6 year old son had more sophisticated negotiating strategies with his 4 year old sister. We dont know, perhaps KG mismanagement has left him no room for maneuver...but the restated historic, FY24 accounts, and Quarter 1 trading statement may shed light.

FF, the bod previously stated there was anticipated cash shortfalls in 2025, before becoming cash positive in 2026. I dont know how much borrowing facilities Wood group have/could negotiate. To me given their turnover the shortfall did not seem onerous. But I am no expertt in Wood groups financial stretch.

Sidara Pitch is to creditors. They, and BOD seem to think creditors will create some issues- in fact it seems as if Wood BOD and Sidara are encouraging this.

FF

"The Board of Wood believes that the Company needs to have a more sustainable capital structure, and this requires substantial new capital in order to diversify Wood's financing sources and reduce its indebtedness over time. Sources of new capital could include a substantial issue of new equity, significant disposals or a combination of both. "

I expect rns after hours tomorrow...but before 5pm deadline

35p Sidara offer would suit me fine...i had hoped for more, but seems there are going to be balance sheet issues that could affect possibility of borrowing. Further, the longer the whole saga goes on the more harmful it becomes for the organization.

Clearly many do not see the sidara proposals as a goer. Outwith the wood group I am sure nobody would know anymore than Sidara. Sidara need creditors and II's on side, and their long quest to acquire a company like WG would be over...

Mr gonzo, hedgies do well...

Sorry spec, i should add harrods, thames water to macqarie, australia, now dispersed, mini to bmw

Sidara to uae, shard to uae, British steel to china, jaguar Land Rover to india, rail companies to france and germany etc. london listings being rescinded, the uks slow, but continuing decline...