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Hur is history, but there are lessons that linger

LWHL. Bear in mind that Deloittes comments about financial discipline, control etc. could be their perception, and critique of an `engineering culture'. Culture change is not easy, and can have major consequences....just a thought

LWHL you say `The BOD was responsible for what happened with HUR...'. True, but on a wider note when engineering `interests' fail to sufficiently focus on the `commercial' they run into trouble. I may be wrong, but Is that not what has been possibly also happening at Wood (including environmental turbulence) in recent years. Seems to me the BOD have failed as has the accounting and finance services...it may be that the engineers have a lot of power, and are diven by their passions (not finance, thats troublesome)

I should have added that its the `people' and their collaboration to successfully design, construct, maintain, adapt and collaborate that seems to me the underlying cause of a $6bn order book, an array of satisfied Blue Chip Clients with coverage across 60 countries

I make some unelaborated assumptions in my brief organizational analysis, but hopefully the points I am making are worthy of consideration.

WG is a cross between a `Professional Bureaucracy' and an `ad-hocracy'. Both require decentralization to where expert knowledge lies, the `ad-hocracy' requires networking, relationships, flexibility, mutual adjustment/mutual respect. `Ad-hocracies' require a `cultural glue' . The `professional bureaucracy' of their build and maintenance divisions, need to work with and have understand the project design teams, and vice verca. I imagine the achievement of virtuous organizational processes is something that is part of the organizational heritage thus not easy to replicate nor construct. How much is such an `organization' worth?

Marshall Wace are the ones that concern me...they, I think, were the ones that really stuck to driving Hurricane energy down.

I will be happy with what will be accepted by the BOD, and Shareholders. I have been opportunistic here, but icecool, and JO have helped convince me that my speculative punt was indeed a sound investment. I am appreciating the wood group project costing have been flabby and failing to accommodate price/cost turbulence; they seem to have have been affected by fixed medium to long term contracts in a volatile environment...I am a newbie, but the issue seems to be as Deloitte point out and CEO accepts a failure of financial control and disciple. The Engineering talent seems First Class. That stock and flow of knowledge, experience, know how and know what needs to be kept intact and nurtured. So hopefully, a quick and consensual agreement to calm the undoubted nerves (and finances) of their critical assets...their professional teams...

24 February 2025

Dar Al-Handasah Consultants Shair and Partners Holdings Ltd ("Sidara")

Statement regarding John Wood Group PLC ("Wood")

Sidara notes the recent announcement by Wood and confirms that Sidara made a preliminary approach to the Board of Wood regarding a possible cash offer for the entire issued share capital of Wood.

........

....In accordance with Rule 2.6(a) of the Code, Sidara is required, by not later than 5.00 p.m. (London time) on 24 March 2025 either to announce a firm intention to make an offer for Wood in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may be extended with the consent of The Panel on Takeovers and Mergers in accordance with Rule 2.6(c) of the Code.

Is a takeover the only option what about a merger/jv with sidara providing a cash injection for shares at substantial premium...surely there are options here. I am no expert, but there could be ways to protect instis holding/prospects...i am no expert, just thoughts

Icecool...missed your calm and balance

Does the Labour Government want the one of the Most Expert British Energy Infrastructure Firms to be in the hands of overseas Private Equity...I think I can guess.

Wood group is desirable...after my brief research I am not surprised. I also think the wood group are necessary for the UK business system and for the government....

Today it was good to see institution disclosures, and most holding their positions...lets see what tomorrow brings.

There are plenty in `the know' about what is happening...its not us...

Respectful acknowledgement of the other is important. Male (mostly) ego driven toxic masculinity is not the way to be. Practice goodwill, and be respectful of articulated positions.

To me the following implies that both parties are `sussing’ each other out…

“The Board of Wood notes the recent media speculation and confirms that it has received an approach from Dar Al-Handasah Consultants Shair and Partners Holdings Ltd ("Sidara") in relation to a possible offer for the entire issued and to be issued share capital of the Company (the "Proposal").”

“Sidara notes the recent announcement by Wood and confirms that Sidara made a preliminary approach to the Board of Wood regarding a possible cash offer for the entire issued share capital of Wood.”

Wood group is worth a lot to anybody that can expand, enhance economies of scale, and leverage synergies. I imagine these opportunities do not come often.

Good to see some understanding of how human resources can drive competitive advantage, not least in professional service, knowledge accumulated/accumulating firms...the wood group seems to have it

Sidara came back four times from my understanding...the synergies/economies of scale make complete sense