Wood Group (john) Share Discussion Threads

[regina124] 16/5/2023 08:58

It has nothing to do with the Wood Board- Apollo was unable to get financing despite their big mouth on integrity....... Thant's my personal opinion.

[martyminer] 16/5/2023 08:51

Apollo as usual wanted something on the cheap, chancers !

[chutes01] 15/5/2023 21:06

Incompetence reigns supreme, if you know these guys, they are just low level Engineers, there's not one fkg ounce of business acumen amongst them.
Dave Stewart almost bust the company, £8 - £1, shareholders lost billions. We can only assume SIW took a shine to him ..
Gilmartin can only save himself by announcing a special divi, because he is the biggest sleaziest divi in the building.
Arrogance, nepotism and incompetence, with snouts in the bonus & pensions pot has all lead to bleeding shareholder cash.
Carillion2, they will be teaching this at Harvard soon.

Expect resignations to follow this week as they battle to save their own skins.

[charlotte2020] 15/5/2023 20:58

I quite agree is this outcome really in the best interests of shareholders. It defies belief.

[dexdringle] 15/5/2023 18:57

So, did Apollo just change their minds or did they see something in the due diligence that they didn't like ?

Presumably, the Wood board will now resign en masse for having been so bolshy about the 'pathetic' £2.40 per share bid for what turns out to be a £1.45 per share business ?

[edmondj] 15/5/2023 17:17

2022 lease interest was $16.4 million, note 3 on finance expense.

I provided a link, people should look!

[gargoyle2] 15/5/2023 16:56

No value left here now? A few weeks ago you were saying that shareholders were being robbed with a 240p buy out. Make up your mind.

[chutes01] 15/5/2023 15:44

GL with your purchase, I think the market will take it to 80p very quick on re-assessment
Mug punters at this level, there isn't much value left here now, any positive cashflow goes to interest payments, the next US legacy claim will finish the whole shooting match.
Watson sold what he could before leaving the building PDQ.

[hamhamham1] 15/5/2023 15:35

Chutes, I bought in here today, happy to buy at these prices, you can troll all you like.

[chutes01] 15/5/2023 14:48

Got to feel for shareholders, value destroyed by Watson/Stewart, abject incompetence, then a possible way out at 240p during an energy supercycle after seeing £8 at one point.
This could yet fail, multiple profitable units sold off to clear debt, however it still stands at over £300m hence huge interest cossts and multiple ongoing legacy charges to come.

[hamhamham1] 15/5/2023 14:22

Edmondj, are you saying they are paying interest on their leases?

[hamhamham1] 15/5/2023 14:20

Edmondj, what was the adjusted ebitda this year just gone? 385m dollars?

[hamhamham1] 15/5/2023 14:16

I got some at 131p, some at 135p and some at 140p. I just kept refreshing to see what was available there and then.

[edmondj] 15/5/2023 14:13

End-2022 balance sheet had $1.269 million debt including leases, versus $537 million cash. That meant a net interest charge of $120 million, another year of it wiping out operating profit.

Holders thus need to be convinced we are not heading for stagflation.

[pogue] 15/5/2023 13:27

girvin
can you put up a link to what you think the debt is?

Below is the link I would use which states...
'Net debt (excl. leases) at 31 December 2022 around $350 million to $400 million within our guided range'
Do you think that is excessive for a company with Market Cap of £1 billion, revenue around $5.4 billion and adjusted EBITDA around $375 million to $385 million? I dont.

[girvin] 15/5/2023 12:59

Apollo having been granted access to due diligence materials, have since sense. A bid of 245p a share was madness. This company has so much debt and has had to sell it niche and profitable business to stay afloat.The risk reward just isn't there at a bid above 200p. Fair value in my humble opinion 160p

[dealy] 15/5/2023 11:24

They did the same with THG last week. Probably some order from the top along the lines of "don't buy anything"

[jubberjim] 15/5/2023 11:02

Did any one manage to get their buy order at 130 filled this morning

Had left opportunistic bid for 5000 @ 130 but must have been last in the queue cos didn t get any had to settle for buying just below 135 improves my average but a bit of a way to go to break even.

Anyone any ideas as to why Apollo took flight and fright.

[2cmb] 15/5/2023 09:56

Good morning all.
Ham i manged to load up quite a few here this AM. A drop way overdone to say the least !! I bet quite a few stop lose's triggered too. I don't use stop lose as the shorts can have access to the stop lose figures IMO.
GLA

[dipa11] 15/5/2023 09:37

Apollo Management Holdings confirmed it does not intend to make a takeover offer for John Wood Group. In April, the energy sector-focused engineering and consulting business said it would engage with Apollo to see if a firm takeover offer could be made on the same terms as its previous proposal. In early April, Apollo had proposed a potential offer of 240 pence per share in cash - a 59% premium to Wood's share price at the time.

[sbb1x] 15/5/2023 09:33

Buy 54,000@146

[sbb1x] 15/5/2023 09:32

Buy 192,192 @145

[kibes] 15/5/2023 09:22

Apollo probably worried about some sort of general crash in the US and have gone risk averse? I'm not surprised they dropped out of THG. Wood was a much clearer prospect than that however.

[dealy] 15/5/2023 09:22

then they shouldn't waste everyone's time announcing intentions to bid