Member Info for Wiggly

Today.

Unacceptable

Almost -10x lower than the bid from 6 months ago.

Unbelievable he is still there. Only conclusion is that they have not yet secured his replacement

It doesn't make much sense. II chucked it? MArgin calls?

Look at any of the key financial metrics and it is madness.

Bargain for PE or competitor

Good luck, Mag.

Crazy for anyone to short wood at 200m mc. Debt not due for refinancing for 18 months !!!

Mag seems to he panicking....

Smart investors loading up at rock bottom

If yes, and if strategy is to sell the group to the highest bidder, expect a massive rise.

Has he gone?

It's really unbelievable it dropped to £200m MC.

Monty

That is not the case. Check Ebita and ebit growth. Ebit + order book highly attractive to bidders. Sidara will have no issue refinancing the debt.

100 % premium to current would be 'opportunistic'

Eg £400m

Likely rejected though.

Share price is beyond depressed.

Will be amazed if we don't see an opportunistic bid

Net debt excluding leases is only €690 million.

It is not extreme and is not due for refinancing until October 2026, +18 months away.

Wood is already engaged with lenders to work on a refinancing package—all very normal.

Regarding negative cash flows expected in 2025, they have the option to offset them via asset sales.

EBITDA is forecast to grow at double digits, and cash flow is forecast to be positive in 2026.

A review into previous reporting is not likely to impact cash flow.

I have no idea what caused the -55% drop, but it was definitely not caused by any posters here.

Games are at play, IMO, and it is feasible that takeover offers will commence next week.

It is impossible to justify the market cap of £200m.

Wood is worth multiples of £200m to Sidara. Let's hope Apollo and other PE still have some interest also.

For me this is the most important thread and discussion point.

Sidara pulled out for a number of reasons, one of which was political uncertainty. With trump now in power and war in the ME cooling, most of that concern should be alleviated.

Are they interested to aquire at 50% of previous offer? I can't see why not but would like alternative views.

With synergies, Sidara would do extremely well taking account of the operating cash flow and huge improvement:

"Continued improvements in operating cash flow6, which has improved from $(66) million in FY22 to c.$275 million in FY24, helped by working capital improvements, including the absence of the 2025 working capital unwind (c.$70 million)"

@aimmaster

Wood net assets = £3b. Drop to £200m MC is massively overshot. This is not an AIM basket

Loch

Wiggly…I think the company would get a better price from a suitor if it wasn’t burdened with so much debt.

The offers at $2b considered the same debt level as we have now

Valued Wood at $2b only 6 months back.

Are they interested at $600m?

If not, why not?

Don't you think re-engagement with Sidara, Apollo and other PE is more likely ?

The major holders will be pushing for this more than ever.