Threat: John Wood Group shares have fallen almost 40% in the past year
John Wood Group faces calls to leave the London stock market as shares continue to decline.
Activist investor Sparta Capital Management has written to the chairman of FTSE 250 engineering group Roy Franklin urging him to explore the possibility of listing in the US or selling the company.
John Wood shares have fallen almost 40 per cent in the past year, giving it a market capitalization of around £992m.
“If the UK public markets are unwilling or unable to engage with the Wood story, we believe they should undertake a strategic review and actively seek alternative solutions,” said Sparta’s letter, seen by Sky News.
Wood Group shares gained 1.5 percent yesterday.