Corporate Action – Worley (ASX: WOR) - Elston Financial Solutions

Corporate Action – Worley (ASX: WOR)

1st May 2024

Across the Australian Equity component of investor portfolios (Blend & Growth Tilt IMA), we have participated in a block trade to purchase an additional allocation of Worley (ASX: WOR). Worley is a global consulting firm that provides services to the Oil & Gas, Chemicals, Mining, Infrastructure and Electricity generation industries.

On Monday night, Worley’s largest shareholder, Sidara (Formerly Dar Group), elected to sell a 19% stake or ~A$1.4bn block of shares. The trade was priced at $14.35 (pre-brokerage), which represents a 12% discount to Worley’s last traded price of $16.31. We successfully secured an allocation for clients in the trade.

As always, thank you for your ongoing support, it is very much appreciated. If you have any questions or would like more information, please contact your adviser.

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