To offer or not to offer is the question16 Apr 2025 19:02
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Wood Group (john) Share News - WG.
Current Price
21.74p
-0.82 -3.63%
Bid Price Offer Price
22.00 22.14
High Price Low Price Open Price
22.86 21.12 22.12
Shares Traded Last Trade Market Cap
24,261,292 16:35:29 156.08M
Wood Group (John) PLC Update on Possible Offer
Intraday Wood Group (john) Chart
Intraday Wood Group (john) Chart
14/04/2025 7:00am
RNS Regulatory News
RNS Number : 8591E
Wood Group (John) PLC
14 April 2025
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION
THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE EVEN IF THE PRE-CONDITIONS ARE SATISFIED OR WAIVED
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
14 April 2025
John Wood Group plc ("Wood" or the "Company")
Update on Possible Offer
Summary
· The Board of Wood has received a holistic non-binding conditional proposal from Sidara, comprising:
o a possible offer of 35 pence per Wood share in cash to acquire the entire issued and to be issued share capital of the Company (the "Possible Offer");
o a possible capital injection of $450 million from Sidara to Wood; and
o Wood seeking an extension of, and certain other amendments to, its existing committed debt facilities.
· Sidara has confirmed that it has made significant progress with its due diligence on Wood, including in relation to its review of the points raised in the independent review commissioned by Wood.
· Work continues on a range of alternative refinancing options to provide the Company with an appropriate and sustainable long-term capital structure. Having carefully considered the viability of these options together with its financial advisers, the Board of Wood currently believes that the Possible Offer represents the better option for Wood's shareholders, creditors and other stakeholders.
· Accordingly, the Board of Wood has indicated to Sidara that, should a fi
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