Transfield Services : receives further proposal from Ferrovial

Level 12

Page 1 of 1 Transfield Services Limited ABN 69 000 484 417

ASX Statement

22 December 2014

Transfield Services receives further proposal from Ferrovial · Recommend shareholders take no action · Further proposal continues to undervalue Transfield Services shares - insufficient to gain Board recommendation

Following limited due diligence and commercial discussions, Transfield Services has received a further indicative, non-binding and conditional proposal from Ferrovial Servicios, S.A. to acquire 100 per cent of the issued shares in Transfield Services for cash consideration of $2.00 per share, less the value of any dividends or other distributions after 19 December 2014.
Shareholders do not need to take any action in response to the latest Ferrovial proposal.
"The Board of Transfield Services has considered Ferrovial's proposal with the Company's advisers and has formed the view that the new price of $2.00 per share still does not reflect the underlying value of Transfield Services shares," said Diane Smith-Gander, Transfield Services Chairman.
Transfield Services is not expecting any further engagement with Ferrovial at this stage.
ENDS

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We employ more than 24,000 people across 20 industries and 11 countries. We are a global provider of operations, maintenance and construction services to the resources, energy, industrial, infrastructure, property and defence sectors. We deliver asset management services across all phases of the asset lifecycle, from concept and creation, to services that sustain, optimise and enhance our client's assets. With diverse global experience and expertise, we shar e our knowledge and challenge thinking

to develop and implement innovative solutions that deliver real value for our clients. Our u nique approach enables us to deliver continuous improvements in asset

performance and sustain long term relationships with our clients and partners. www.transfieldservices.com