Shares in Wood Group PLC showed tentative signs of recovery when markets opened this morning following a collapse yesterday.
When the markets closed yesterday the share price had fallen by around 30%, having dipped as low as around 26p during a tumultuous day for the firm.
It came after Wood revealed an independent review of the business uncovered "material weaknesses and failures in the group's financial culture", including "inappropriate management pressure".
Wood also cautioned that its full year 2024 results would likely not be published ahead of the April 30 deadline, meaning shares could be suspended at that point.
But when the markets opened this morning there were signs of a slight uplift in share price, rising more than 29p.
Wood remains in talks with Dar Al-Handasah Consultants Shair and Partners Holdings Ltd ("Sidara") in relation to a possible takeover.
Last week, an extension to the deadline for a deal to be struck was agreed, giving the parties until 5pm on April 17 to reach a decision.