John Wood Group PLC (LSE:WG.) shares were up over 7% on Wednesday morning, bouncing back from a recent all-time low, before it confirmed that its shares will be suspended tomorrow until it publishes its delayed results.
A month ago, the oil services group warned that its 2024 results would be delayed due to the independent review it had commissioned into "material" holes in its accounts.
Today, 30 April, is the deadline under UK listing rules, and Wood issued a statement confirming that its accounts would not published in tine.
Having obtained temporary retrospective waivers for its debt facilities to 30 April 2025, the company said today that the waivers have been extended until 30 June 2025, also extended to apply to the failure to publish its 2024 accounts in time.
Two weeks ago, Wood Group received a takeover bid from Dubai engineer Sidara, which the board said it would be minded to accept.