Member Info for Urraca

The £240m doesn’t even cover the cash burn for the current year - snd disposals are one-offs, not recurring revenue. If the market thinks a yes vote will deliver 30p, and a no vote will deliver an even higher price, the sp wouldn’t be 22p now. The idea that the discount is purely down to the market waiting to see what plan b is following a ‘no’ vote seems dubious. What is that actual probability of that? 5% seems generous.

None of us know whether the vote will be yes or no. But given that it seems that the share price is hovering around 22p because of the possibility of a No vote, I fail to understand why Ice thinks it could deliver a higher share price. Surely the greater likelihood is that the price will fall in expectation of equity dilution - which the Company has told us WILL happen. For those who believe the vote will be no, surely the trade would be to sell out now, wait for the result, and buy back many more shares then? Buying now in expectation of a no vote? I’m not seeing the logic.

Great quote GRaff - best post of the day

Probably IceCool

Bob, if you were getting shares as an employee, you were either being given them gratis, or saving into a share save scheme, in which case you can choose not to exercise the option to buy the shares, and just take the money you’ve invested (if current share price is lower than option price). I fully understand that the falling share price is massively annoying, but it’s not quite the loss an ordinary punter who bought in the open market is enduring.

3-4 activist institutions voting no? That would be the turkeys voting for Christmas coalition for accelerated impoverishment.

“Mr boggles they need 75% of votes cast. If a No syndicate of 26% already exists which I think it’s obvious it does, then it’s game over for Sidara already.”

You mean game over for Wood Group shareholders. I think you’re wrong because IIs can clearly see that taking what value they can from their holdings is preferable to wipe out.

Well ice, the “forcing” your making such a song and dance about was caused by the mismanagement of the Company and the appalling financial situation it finds itself in. It’s hard to see how the financial reality indicates a higher offer, or a much higher share price if they go it alone. The advice in the latter case is clear - wipe out of existing shareholders.

Ice “clause C is the wood board we’re FORCED to unanimously recommend the deal as a prerequisite to the deal in the first place”. And where is this clause in an RNS, or the scheme documentatipn?

What exactly is this clause C, Icecool?

Romanby - you can lead a horse to water….

Romanby, please refer to RNS 5763F, issued at 17:28 on 30 October 2025 by John Wood Group plc, the second section tgat is in bold, starting “The Wood Group, who have been do advised…etc” then lists those companies.

Jeez, just logged into my Barclays account to vote. No corporate actions listed. Rang them up. I had to dig out the RNS about the Court meeting myself before they accepted there might be a vote, and ended up saying it would take 7 days to register it. Can’t believe I’m paying hundreds of pounds a year for such a shoddy service. Anyway, I’ve voted yes. The Board recommend it, as do Europa Partners, Rothschild & Co, JP Morgan Cazenove and Morgan Stanley. Against them, Icecool recommends voting no. Lol.

The market will speak tomorrow. At least we won’t have to put up any more with the relentless insistent repetitive talking ones book we’ve had to put up with from both sides for months now.

Thanks Bob, that’s very useful. Do uou have any feel for the scale of the overhang of loss making contracts Wood still needs to work through on the path back to profitability and debt rrpayment?

Nothing would make me happier than if Ice and Graff are right, and if they are i’ll happily buy them both a drink. But as Goldman Sachs say, hope is a sh177y hedge. The reality is that Wood Group has been a zombie company for years, kept alive on the support of near zero interest rates. As rates normalised, the crows came home to roost - as they are doing for our recklessly profligate government.

Putin did indeed invade a sovereign country, and its not going well for him. But if you look at a map you can see how Ukraine extends deep into the southwest border of Russia and dominates its access to the Black Sea and hence the Med. assurances were given that Ukraine would never be part if NATO, and those assurances were then being flouted. So while it was wrong of the Russian bear to lash out, it was wrong of the West (the USA) to poke and bait the angry paranoid bear. It’s not black and white. For myself, I hope it ends soon. A collapsing oil price will force Putin’s hand. It’s a shame we turned our backs on our own fossil fuel reserves - played right into his hands really. But it made the green rentiers rich, so they’re happy.

I’m reassured that when trading recommences I’ll be able to sell out at over 30p because Icecool and the others who are convinced there will be a counterbid, or the company will go it alone and the sp will rerate, will surely be filling their boots to the fullest extent that they can max out all their lines of credit. Won’t they?

I wonder if some people have actually even opened the document. Operating loss $2.631 million ($2.6 billion loss), free cash flow minus $153 million, basic loss per share $4.03. Balance sheet, net assets/equity $436million, down from $3,263million the year before. And they haven’t been profitable since 2017? They are on the brink of collapse - like Petrofac. The Sidara capital injection, plus 30p per share is pretty much current EV on the nose. If the deal falls, WG will need to raise around £250 million through an issue of equity. If they can get it away at 10p a share that would be an extra 2.5 billion shares - we’d be diluted to oblivion. Be careful what you wish for.

Positively Shakespearean, Froggles. A Laureate job beckons.