Member Info for TetleysDad

I’m intrigued that Pareto have been chosen to sort the fixed income meetings. Why Pareto? Couple of thoughts: (a) Pareto are Scandinavian, as are Verdane, who thought about bidding for TIG about 16 months ago. Coincidence? (b) fixed income work is often a front door to more strategic actions e.g. disposal activity, take-private activity and private equity engagement.

Hopefully the answer is that the DIS sale in getting close to a resolution and/or something more fundamental is afoot. Or maybe they really are just going to front some meetings??

I asked Co-Pilot the same thing a while back (SP was 41p) and got this:

Estimated Kestrel Weighted Average Cost: ~75–85p per share

This aligns with:

Their long‑term holding behaviour/accumulation pattern/lack of selling at 120–140p/willingness to add at 50–70p/refusal to sell at 41p

🔥 3. Are they underwater? Yes — significantly.

At today’s ~41p:

They are likely 40–50% down on their position.

Yet they are not selling./They are not reducing./They are not hedging./They are not signalling concern.

This is not normal behaviour for a fund unless the thesis is intact.

I took comfort - probably wrongly - from the last sentence that the thesis (TIG is materially undervalued) is still valid. Guess we'll know when (or if) a sale comes to fruition!

Should a sale materialise, what next- significant exceptional dividend, debt repayment, share buyback or will management want to reinvest? I suspect the latter, keeps everyone on the payroll!

Are you sure, I thought it was 75% of votes cast not 75% of the float? If I'm right abstaining has no impact. Happy to be corrected by Sir FB :)

Assuming I've asked the right question :) CoPilot informs me that:

As of March 31, 2025, Apollo Global Management holds a robust liquidity position with:

• 💰 $12.9 billion in unrestricted cash and cash equivalents

• 🏦 $5.1 billion available from credit facilities

Additionally, Apollo reported $205.98 billion in cash and short-term investments on its balance sheet at the end of FY2024.

So buying Wood could be considered almost loose change? Here's hoping they're interested and, to quote JO, have balls of steel!

P.S. Not good with AI yet, so if the above relates to another Apollo, blame Bill Gates.

Thanks for taking the time to reply, Elllltelinv, much appreciated. Let's hope this plays out as we hope!

If you’re short on this (god help you), from whom would you buy to close your position, once trading recommences? Anyone with a brain won’t sell at ~18p given the potential 30p “offer”. More likely there’ll be a short squeeze, no? Just wondering how this might play out in practice . GLA

What link?

Anyone have a feel for when the various recent contract wins might have a positive impact on Wood’s cash? The contracts obviously add value, and are good PR, but cash, or the lack of it, is key at the moment. P.S what happened to the other possible cash positive measures e.g. pension fund surplus, asset sales etc. surely these have improved the position? End of straw clutching! :)

Ignore the “TV” my phone added that independently, honest!

At the risk of showing my ignorance, is this correct? The TV shorters would have sold at, say, 30/40p and have to buy to close? If there is no market, they can’t , in effect a nil SP? Happy to be educated.

If this goes through, is there merit in becoming a longer term holder? I’m worried Sidara will take it private and I’d be left holding a valuable share (theoretically) but no market to sell it ??

8:30 Uk time, so not long to wait, unless it’s Monday.

Morning hd, I thought you were out? Did you decide that the goose may still lay the proverbial golden egg!

At the very least!! :)

Thanks all for the clarification, watching the charts on my prayer mat it is then!

Is there a point at which an ii can sell at the exact offer price? In other words will I get a message from my platform to “ click here” to accept the price, or is it a case of selling via the market in the usual way at whatever price is in play? As you can tell, I’ve not been in this position before, assuming it happens! Cheers

Morning all, at the risk of asking a daft question, how do shorts expect to close in auction periods? There are currently 6.46% shorted shares, equivalent to 44m. Are there really 44m held by IIs available to buy (given that PIs are excluded from these periods), surely IIs are more likely to take a long term view and hold for the full offer price? Is it not more likely that they'd have to close in the open market when PIs are more likely to take early money and run?

As I say, possibly a daft question, but would be interested to understand the mechanics.

Asking as a hopeful but realistic holder of GW. :)

GLA

I agree that if a bid isn't forthcoming that would be disappointing and the SP would no doubt retrace. However, as other more knowledgeable folk have said already, the medium term financial metrics don't warrant an SP at this level. If folk are prepared to wait, and even buy the dips, I would expect them to come out on the right side, eventually.

The CEO holds 1.26m shares, a lot by most folk's standards but a drop in the ocean compared with II's.