Member Info for Urraca

Deeko

I’d be very disappointed if this got taken over for £1.20 a share. Furious actually. I want this to run for at least 2 years from here, at the very least. After that a takeover bid at multiples of £1.20, and yes, I’d take a view then.

Gazelleman

Who was it last week getting cold feet at paying 63p?

Jotom, the Tories campaigned against leaving the EU. But the people spoke. Then the Tories, using the levers of power they had control of, tried to frustrate that while pretending to honour democracy. Can you really not see that? If not, they want to clone you, to have the submissive population they, and the EU, crave.

Kando

I believe we have very large quantities of natural gas both under our feet and under the NS. Unfortunately our previous Government outsourced our energy policy to a foreign, uneducated, autistic 15 year old, who spoke for a tiny minority of extremists, and our current Government are continuing the policy, to forbid its extraction and use. Despite the fact that the imported lNG we rely on instead has four times the CO2 footprint, to say nothing of the imported wood chips fuelling the Drax power station. Even after the doom goblin herself has moved on to more pressing issues, such as endorsing anti-semitism.

Icecool yesterday :”Also where is the police, fraud is a serious allegation?”

Icecool today:”FCA investigation, good stuff 😊👍.”

Your talent for spinning is sadly wasted on a bulletin board like this Ice, you should be working in politics.

As for “And more importantly, it kills any chance of a deal being pushed through without full audited accounts”. Please can you provide any basis for this hysterical scaremongering? I think legally the Board have to have a vote on it. Snd the RNSs have clearly said that Sidara want to see finalised figures before committing or not to their offer.

JO, if you read my post closely you will see that I was very careful not to gender IC. I don’t want the thought police knocking on my door.

It is important to remember that Icecool comes from the new generation. Unlike us boomers, IC grew up with social media. Sure in the knowledge that things we boomers take to be immutable facts of reality can be changed if one declaims loudly, aggressively, and incessantly enough on social media. Things like the now obvious fact that a man can change into a biological woman simply by saying it is so. We occupy two different realities. Can it affect investing outcomes? Lets see.

Speaking as a Chartered Accountant and former FD of a multi billion t/o organisation, I have to say that Icecool’s faith in the integrity of the accounts to give a full and transparent is very touching. The reality is sadly a little less black and white. While its clear that Wood Group crossed the line, even staying just within it there is quite considerable latitude in the choice of accounting policies made, and interpretation thereof, to paint a picture with the accounts that are not wholly transparent. If it was rigidly inflexible a computer could do it - no need for expensive accountants, or even auditors really. The Board will have had the best idea of where they were heading, even if not the picture to the penny required for accounts to be cleared. And I think Sidara too. So much as I would wish for a significantly higher offer, prudence (a key accounting concept) dictates that expectations should not exceed the 35p that has been guided.

They were guiding that it eon’t be long until the CPR is out. That might provide a basis for farming out the Temaris cluster to help cover a good part of the development costs. I was intrigued by what they said about the award raising their profile at the industry event, and people getting in touch. A quite big operator might want to build a relationship by farming in, as Seascape look to have considerable headroom to expand further.

Pure speculation of course. But exciting times ahead,

I agree with Gazelleman, hence did not attempt to trade it today. I’m happy just to let this one run.

Deeko

I will always be extremely grateful to Alistair Bruce. I’ll send him a bottle of Lagavulin when this hits £5 a share.

Hang on, weren’t the IIs going to vote the Board out today, to clear the path for a competent team? I’m sure someone was confidently saying that would happen?

Grow up, we are playing with real momey here Dazpink

Dazpink

You say”WG have not stated that a massively dilutive debt for equity swap or raise would be required if Sidara walked away or WG rejected any offer.”

Wood Group RNS 14 April says:

“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. “

‘A substantial issue of new equity.’ I am sorry if this does not satisfy your need for confirmation bias, but investing needs a cold appreciation of the facts in front of us. As Goldman Sachs say “Hope is a shi**y hedge”

I agree with Kando, people seem to have forgotten there is a downside, potentially very steep, if the Sidara deal doesn’t happen. A massively dilutive debt for equity swap or raise would see current shareholders more or less wiped out. In that context 35p could be very good indeed.

And yes pokerchips, the deal has not yet been finalised. But its looking pretty nailed on now, and 35p looks like the floor. Nothing in life us certain - Iran probably wants none of us yo still be here by 30 June - but the odds on 35p deal being settled look hood.

I don’t have any corporate actions showing for Wood shares in my trading account. What is the deadline for voting please?

Very happy to take 35p myself, its a very healthy profit for me. A bird in the hand and all that.

The Russian assets are clearly valuable, but open to being seized by the Russians. They are not going to be able to seize the non-Russian assets though. Does anyone seriously think they can come up with some way to disenfranchise Western shareholders of the North American operations and mo e control and ownership into Russia? Absurd. So, if tge Russian assets are taken away, it becomes more likely that the non-Russuan assets can reconfigure as a reduced, but still operational Evraz and relist. Ok it won’t cone back at £5, but there will be value.

Jotom - the people voted for Brexit, it was bot forced on us by Farage. It has not cost “hundreds of billions” you just made that up. And you seem to be peddling the elitist anti-democratic line that people only voted for it because they ate stupid and hence cannot be trusted with the vote. You also do not seem to understand that the NHS is consuming an unsustainable portion of our GDP and wants ever more without any productivity improvement. Also, Reform is now popular because the settlement that started with Blair in 1997 has now run out of road. People have had enough of being lied to, and of our country descending into third world squalor with broken public services while taxes are at a historic high.

Well the seller seems to have finished so its going up on very thin volume. If funds are trying to build a stake, long may it vontinue.