Wood reveals plans for £665m payback
WOOD Group, the Aberdeen-based energy services firm, yesterday outlined plans to return £665 million to shareholders in the second part of its £1.08 billion payback following the sale of its well support unit to General Electric.
By The Newsroom
Published 12th Jun 2011, 20:28 BST
Updated 13th Jun 2011, 21:53 BST
Investors will be issued with un-listed "B" and "C" shares, which they can either sell back to the company or receive a special one-off dividend.
Earlier this month, Wood Group revealed 412m would be returned to shareholders through a share buy-back, with trusts controlled by founder Sir Ian Wood selling 365m-worth of shares.