The firm is currently the subject of a non-binding takeover proposal from Dubai’s Dar Al-Handasah, known as Sidara, valued at 35p per share, or approximately £242 million. Mr Franklin stated that the board would be inclined to recommend a firm offer from Sidara to shareholders if one materialises, though there’s no certainty of a deal.

The deadline for an offer from Sidara has most recently been extended until 5.00pm on 30 June 2025.

Wood Group’s shares are currently suspended after it failed to file its 2024 accounts on time. This delay stems from an independent financial review by Deloitte, which uncovered errors in income statements and balance sheets from the past three years. Mr Franklin assured attendees that the company is working to publish the accounts “at the earliest opportunity”, after which a general meeting will be called, and the company will request the restoration of share trading.

Despite the challenging circumstances, no questions were raised by shareholders during the Q&A session at the AGM.