Wood Group (john) Share Discussion Threads

[slopsjon] 08/3/2011 19:36

1033 GMT [Dow Jones] ITV (ITV.LN) and John Wood Group (WG.LN) are likely to be promoted to the FTSE 100 index when the outcome of the quarterly review, based on Tuesday's closing prices, is announced after Wednesday's close, says Vijay Sumon, quantitative analyst at HSBC. He says that, based on Monday's closing prices, the two are ranked 83 and 86 respectively among the U.K.'s top companies by market capitalization. African Barrick Gold (ABG.LN), ranked 115, and Alliance Trust (ATST.LN), at 114, are the names favored for demotion. Changes to the index are effective at the close of trade Friday, March 18.

[strollingmolby] 04/3/2011 16:05

Good news:

The OFT has decided, on the information currently available to it, not to refer the acquisition by John Wood Group plc of Production Services Network Ltd to the Competition Commission under the provisions of the Enterprise Act 2002.

[chester] 25/2/2011 12:47

Up we go...

[vidalou] 24/2/2011 21:26

Shares mag has this as a sell ? I can see what there saying . Hey ho stop loss is set @ 620 so let's see :-)

[chester] 22/2/2011 15:04

A close above 652p is a new closing High.

[chester] 18/2/2011 12:05

I can see no reason at all to sell this...New Highs today.

[slopsjon] 15/2/2011 14:26

"Analysts valued the Well Support group at between $1 billion and $2 billion. In the event, it's gone for almost three times the more pessimistic predictions."

[zizou26] 14/2/2011 23:08

Thanks Molby, i'll contact my SB firm. All the best.

[strollingmolby] 14/2/2011 23:02

Zizou - yes, you should be entitled to the payout when it comes. If in any doubt raise the question with your SB provider, who if they haven't already done so, will formulate a plan. (but I suspect it is too early yet as the dates and payment amount are not known)

[zizou26] 14/2/2011 22:52

I have a spread bet open on Wood Grp, i guess that means i'm not entitled to any proceeds. Can anyone clarify please? Also, will people start buying actual shares now in anticipation of the pay out? This can only be good news for the share price

[jack parlabane] 14/2/2011 14:29

SP up 12%

1.7 billion to be shared between shareholders


7 posts on the Wood Group BB

[dunc8] 14/2/2011 12:46

Thanks Molby -clearer now - wil just stick with it and hope it keeps gains.

[strollingmolby] 14/2/2011 12:04

Dunc - I very much doubt it, The qualifying date will be in the future following completion of the sale and shareholder approval.

Details regarding the Return of Cash are expected to be communicated to
shareholders following completion of the Disposal. The Return of Cash will be
subject to the approval of shareholders at a subsequent general meeting. Until
the Return of Cash is completed, the proceeds of the Disposal will be deposited
in the money markets with banks, or invested in money market funds, or used to
repay part of the Group's outstanding bank debt.

[dunc8] 14/2/2011 11:50

Will the return of £2 per share click in to those presently holding shares -ie if profits are taken today will the £2 remain payable ?

[strollingmolby] 14/2/2011 10:34

John Woods Group Seeks $100 Million Damages From PDVSA

Petroleos de Venezuela SA, the South American nation's state oil company, said a John Wood Group Plc unit filed an international arbitration request, seeking about $100 million in compensation for assets nationalized in 2009.

The request, which seeks $62.2 million paid in U.S. dollars and a local-currency payment of 163.3 million bolivares ($37.9 million), was filed with the International Court of Arbitration of the International Chamber of Commerce in New York, PDVSA said in a preliminary notice for a planned bond issue.

PDVSA in 2009 took over assets of companies including John Wood Group's Simco venture after President Hugo Chavez ordered the nationalization of service firms operating on Lake Maracaibo.

John Wood Group spokeswoman Bobbie Ireland did not return voice-mail and e-mail messages seeking comment. PDVSA said it expects a hearing to be held this year.

[strollingmolby] 14/2/2011 08:45

And a return of at least $1.7bn to shareholders - about £2 per share.

[philo124] 14/2/2011 08:28

Glad i kept 60% of my holding! Great price!
What will they do now,,,

[dontrader] 14/2/2011 00:50

Just came up on Bloomberg that sold Well Services to GE for 2.8b$

[strollingmolby] 03/2/2011 22:51

And what will they do with the monies received? WG must have a planned expansion of current activities or perhaps intend to enter a completely new space.

[attrader] 03/2/2011 18:45

Interesting . Why would they want to sell? Is it going to be a good for business ?

[soundbuy] 03/2/2011 10:01

John Wood Group PLC ("Wood Group") - Statement in response to media speculation


03 Feb 2011

In response to recent media speculation, Wood Group confirms that it is
evaluating the possible sale of the Well Support division. These discussions
may or may not lead to a transaction. A further announcement will be made if
appropriate.

[philo124] 20/1/2011 11:17

Still got 1500 shares.