Member Info for YorkshireBlues

Light, i disagree. If that was the case and 35p was a dead cert why aren't Vanguard and Blackrock etc buying shares at 21.5p knowing they're going to make 50% in the near future?

Sm66, not necessarily. It could be that the market doesn't believe the takeover will go through. The price will go lower as a result but long term I think that's no bad thing.

Light, the board telling us the 35p Sidara takeover is the best option for shareholders currently on offer may well be true but can we believe anything these people tell us anymore?

8 months ago they were telling us the business is undervalued at £2.20 a share, until November they were saying WG would be significantly cash positive in Q4, now we've been told that the accounts for the entire projects division for 2022/23/24 were falsified.

Let's see what happens but unless Sidara pull out of the takeover tomorrow there will be an extension and on the 30th the shares will be suspended.

Ice, the general feeling amongst employees is that the board have accepted this low ball offer to save themselves.

Aimmaster (of nothing), you are despicable.

YellowRose, the word used to describe the mood of employee shareholders at WG was 'livid.' If Sidara believe they're getting 1000s of happy, motivated staff they're very mistaken.

A couple of certainties that the recent RNS' have made clear barring some miracle is that...

1. An extension for the takeover will be applied for and almost certainly granted.

2. The shares will be suspended by the 30th April as the FY24 accounts will not be ready.

Not sure why some individuals keep debating this.

So what next? I think at 7am Thursday, Sidara will make a formal offer of 35p per share and a cash injection under terms already outlined, all of which seem commercial, reasonable and measured; and most importantly achievable by Wood -

James, that's highly unlikely given WG have stated in the RNS and the internal memo sent to employees they expect an extension to be able to fulfil the conditions required for the offer to be formalised.

Agreed Surin, but that other 50p is meaningless to shareholders and IIs.

I also agree this is only the beginning. If WG accounts aren't as perilous as has been made out to be I'd be surprised if the IIs who recently bought in the mid/late 30s will bend over as quickly as the board have done.

I think to virtually every shareholder it's 35p per share.

The guidance for double digit EBITDA growth for 2025 is still valid. Even if that double digit growth is 10% that's still almost 500m EBITDA this year.

Does the market believe IIs won't vote it through?

This is exactly what I believe will happen.

Been wrong before though sadly.

Im told WG employees, particularly shareholders are absolutely furious with the 35p offer. Is this really how Sidara want to begin ownership of a new company - by screwing their new employees?

The RNS and internal memo to employees that followed all but said an extension will be requested on or before the 17th.

Not particularly helpful this back and forth over who may or may not be wrong. We'll all find out soon.

Unless there's another extension which it looks like there will be.

Considering a number of IIs were buying well in to the mid to late 30s its probable they will reject the 35p offer if it materialises. We need to remember Sidara came back 2/3 times with improved offers last year. If indeed it does get rejected in a vote the question is will Sidara came back with an improved offer. I believe they will but the market seems uncertain hence the price.

The RNS all but stated there will be an extension on Thursday.

The RNS all but confirmed there will be an extension on Thursday unless all of the conditions for the offer are met by then which is highly unlikely.

As I said below it seems like IIs were blindsided by this ridiculous 35p offer. If that's the case then Apollo and Worley were almost certainly clueless too. I dont know if this will lead to anything but after today's RNS at the very least it must have piqued their interest.

I for one would happily vote for WG to go it alone even if that means a painful RI/D4E. I'd rather wait 2/3 years and get a decent return than the derisory 35p the board and Gilmartin have bent over for.