Rns4 Dec 2025 14:35
Wood is pleased to announce that all outstanding conditions precedent under the A&E Implementation Deed, the Sidara Interim Funding Agreement and the Escrow Agreement have been satisfied and the A&E Effective Date occurred on 3 December 2025.
Accordingly, the Interim Facility has been refinanced, the maturity dates of the remaining Amended Wood Debt Facilities have been extended to October 2028 and the Company now has access to the $250 million Sidara Interim Funding and the $200 million New Money Facility.
Access to this funding enables increased liquidity and enhances Wood's capacity to meet the group's bonding requirements, thereby supporting Wood's ongoing operations and providing financial stability to Wood.
Further details on the terms of the Sidara Interim Funding Agreement, the New Money Facility and the Amended Wood Debt Facilities are set out in the Scheme Document and the Supplementary Circular.
Update on certain Exceptional Conditions
The occurrence of the A&E Effective Date has satisfied certain Conditions to the Acquisition, including certain Exceptional Conditions, being: (i) the A&E Effective Date having occurred on or before 31 December 2025 (or such later date as Sidara and Wood may agree in writing); and (ii) prior to the A&E Effective Date, there having been no termination of the Lock Up Agreement, the A&E Implementation Deed and/or any Lender Waiver (to the extent such Lender Waiver is not incorporated into a Lock Up Agreement), as set out in sections 5(A)(i) and 5(B) of Part A of Part III (Conditions to the Implementation of the Scheme and the Acquisition) of the Scheme Document.
In the view of the Wood Board, the satisfaction of these Exceptional Conditions represents a further key milestone in the context of the Acquisition.
The Acquisition continues to be conditional upon, among other things, the following outstanding Exceptional Condition: there having been no termination (other than by reason of a voluntary prepayment and/or cancellation in respect of the Interim Facility or the New Money Facility) or acceleration of any Amended Wood Debt Facility with an outstanding principal amount of $20 million or higher, as set out in section 4(A) of Part A of Part III (Conditions to the Implementation of the Scheme and to the Acquisition) of the Scheme Document.
There can be no certainty that the outstanding Exceptional Condition will be satisfied, and its satisfaction is outside of the control of Sidara and Wood. For further details on the Exceptional Conditions, please refer to section 5 of Part I (Letter from the Chair of the Board of Wood) and Part A of Part II (Conditions to the Implementation of the Scheme and to the Acquisition) of the Scheme Document.
Update on Antitrust Conditions and Regulatory Conditions
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