The Panel on Takeovers and Mergers has consented to an extension to the date by which Sidara is required either to make an offer for Wood, or announce that it does not intend to make an offer.

Sidara recently notified the Board that it required more time to finalise its due diligence and other preparations. Accordingly, the Board has requested and the Panel on Takeovers and Mergers has consented to an extension to the date by which Sidara is required either to announce a firm intention to make an offer for Wood or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. Such announcement must now be made by not later than 5.00pm on 31 July 2024. This deadline can be further extended by the Board of Wood, with the consent of the Takeover Panel.

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