Worley shares dive after Sidara block trade

The news: Shares in Worley plunged on the ASX after major shareholder Sidara sold its stake in the professional services group.

The numbers: Worley announced to the ASX today that its largest shareholder, Dubai-based Sidara, had sold a 19% stake in an underwritten block trade this morning.

By 11:30am AEST, Worley was the worst performer across the ASX 200, with shares tumbling 10.3% to $14.63.

Over the past 12 months the stock has fallen 3.79%.

The context: In a release to the market, Worley's CEO Chris Ashton said "we appreciate the support of continuing shareholders who have invested more in our future and welcome the new shareholders who will join our register following Sidara's block trade".