REG-Petrofac Limited Petrofac Limited: Director/PDMR shareholding

PetrofacAnnouncement

27/04/2023 15:00

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   Petrofac Limited ( PFC)
   Petrofac Limited: Director/PDMR shareholding

   27-Apr-2023 / 14:52 GMT/BST

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   27 April 2023         

                                        

                        Petrofac Limited (the ‘Company’)

                                        

                        Notification of Transactions by

                Persons Discharging Managerial Responsibilities

                                        

    

   Pursuant to the  Company’s obligations under  Market Abuse Regulation  19,
   the Company hereby  makes the  following notifications in  respect of  its
   Directors and their  vestings of ordinary  shares of US$0.02  each in  the
   Company (the ‘Shares’) under the Petrofac Performance Share Plan  (‘PSP’),
   the Deferred Bonus Plan  (DBP) and the Deferred  Bonus Share Plan  (DBSP),
   which took place on 27 April 2023.

    

   PSP

   PSP awards are made by the Company to senior executives and generally vest
   on the  third  anniversary  of  the  date of  grant  to  the  extent  that
   performance conditions have been satisfied.   Awards are made at nil  cost
   to participants.

    

   Details of the vestings under the PSP,  which took place on 27 April  2023
   for each Director, including the  position before and after the  vestings,
   are outlined below:     

    

                              Number of Number of      Number
                 Total number    Shares    Shares    of       Total number of
               of Shares held vested on lapsed on Shares sold     Shares held
                under the PSP            27 April               under the PSP
                     prior to  27 April     20233          on  after 27 April
                                  20233                                  2023
                27 April 2023                        27 April
                                                         2023
   Ayman              127,871     7,672   120,199       2,363               0
   Asfari1, 2
   Afonso Reis      1,037,045     1,548    24,253         730       1,011,244
   e Sousa2

    

   1 The Shares held under the PSP  for Ayman Asfari have been pro-rated  for
   time, based on  his retirement  as an  Executive Director  on 31  December
   2021.     

   2 Ayman Asfari  and Afonso  Reis e Sousa  each sold  sufficient Shares  to
   satisfy their tax  liabilities. The share  price for the  Shares sold  was
   62.21 pence. Their shareholdings in  the Company have therefore  increased
   by the  number of  unsold  vested Shares.  In  accordance with  our  share
   retention guidelines, unsold vested PSP  Shares are subject to a  two-year
   holding period until 27 April 2025.

    3 Following the end  of the three-year performance  period in respect  of
   the 2020 PSP award,  the performance conditions were  such that 6% of  the
   award vested.  The balance of Shares lapsed.

    

   DBP

   In line with  the Company’s remuneration  arrangements, any bonus  awarded
   will be paid  to Executive  Directors half in  cash and  half in  deferred
   shares under the DBP.  Awards will  generally vest in equal tranches  over
   one, two and three  years from the date  of grant, provided a  participant
   does not leave the  Company’s employment. Awards are  made at nil cost  to
   participants.

    

   Details of the vesting under  the DBP which took  place on 27 April  2023,
   including the position before and after the vesting, are outlined below:  

    

                                     Number of
                     Total number of    Shares                   Total number
               Shares held under the vested on Number of       of Shares held
                        DBP prior to            Shares sold on  under the DBP
                                      27 April   27 April 2023          after
                       27 April 2023      2023
                                                                27 April 2023
                                              
   Afonso Reis                61,189    20,396           9,601         40,793
   e Sousa1

    

   1 Afonso Reis e Sousa sold sufficient Shares to satisfy his tax liability.
   The share price for the Shares  sold was 62.21 pence. His shareholding  in
   the Company has therefore increased by the number of unsold vested Shares.

    

    

   DBSP

   Under the DBSP, selected employees were required to defer a proportion  of
   their annual  cash  bonus  in  Shares. Prior  to  Afonso  Reis  e  Sousa’s
   appointment as a Director of the Company he was entitled to participate in
   the DBSP.

    

   Details of the vesting under the DBSP  which took place on 27 April  2023,
   including the position before and after the vesting, are outlined below:  

    

                                        Number of      Number Total number of
                    Total number of Shares vested    of           Shares held
                  Shares held under   on 27 April Shares sold  under the DBSP
                  the DBSP prior to          2023                       after
                                                  on 27 April
                      27 April 2023                      2023   27 April 2023
    
   Afonso Reis                6,300         6,300       2,966               0
   e Sousa1

    

   1 Afonso Reis e Sousa sold sufficient Shares to satisfy his tax liability.
   The share price for the Shares  sold was 62.21 pence. His shareholding  in
   the Company has therefore increased by the number of unsold vested Shares.

    

   Following the  above-noted transactions,  the  PDMRs and  their  connected
   persons hold the following beneficial interests in the Company:

    

                   Total number of    Total number of  Total number of Shares
                Shares held in the Shares held in the     held in the Company
                  Company prior to   Company after 27    after 27 April 2023,
                                           April 2023   expressed as % of the
                     27 April 2023                      total shares in issue
   Ayman Asfari         84,985,685         84,990,994                 16.280%
   Afonso  Reis             43,683             58,630                  0.011%
   e Sousa

    

   The Company's issued share capital consists of 522,049,521 Shares with
   voting rights. Each Share carries the right to one vote. The Company does
   not hold any Shares in Treasury.

    

    

    

   For further information contact:

   Petrofac Limited

   +44 (0) 20 7811 4900

    

   James Boothroyd, Head of Investor Relations

    1 James.boothroyd@petrofac.com

    

   Sophie Reid, Group Head of Communications

    2 Sophie.reid@petrofac.com

    

   Teneo

   +44 (0) 20 7353 4200

   petrofac@teneo.com

   Martin Robinson

    

    

    

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           GB00B0H2K534
   Category Code:  DSH
   TIDM:           PFC
   LEI Code:       2138004624W8CKCSJ177
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   240165
   EQS News ID:    1619551


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:James.boothroyd@petrofac.com
   2. mailto:Sophie.reid@petrofac.com


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