Wood Group Extends PUSU Deadline for Possible Offer
Why we think this is neutral
This RNS announcement does not contain any major news that would significantly impact the company's performance or outlook. It is simply an extension of the PUSU deadline for a possible offer, which is a procedural update rather than substantive news.
Key Points
- Extension of PUSU deadline to 15 May 2025
- Possible offer from Sidara of 35 pence per share
- Delay in publication of FY24 accounts beyond 30 April 2025
Summary
John Wood Group PLC has announced an extension to the deadline for Dar Al-Handasah Consultants Shair and Partners Holdings Ltd ("Sidara") to either announce a firm intention to make an offer for Wood or announce that it does not intend to make an offer. The new deadline is 15 May 2025, which can be further extended with the agreement of Wood's Board and the consent of the Panel. The company also noted that it expects to delay the publication of its FY24 accounts beyond 30 April 2025, which would result in a suspension of trading in its shares.