Petrofac Limited: Director/PDMR shareholding (1619551)

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 USUSD0.02 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 
              Total number of Shares    Shares vested Number of Shares            Shares 
              held under the PSP prior  on            lapsed on 27 April   sold          Total number of Shares held 
              to                                      20233                              under the PSP after 27 April 
                                        27 April 2023                      on            2023 
              27 April 2023             3 
                                                                           27 April 2023 
 
Ayman Asfari  127,871                   7,672         120,199              2,363         0 
1, 2 
Afonso Reis e 1,037,045                 1,548         24,253               730           1,011,244 
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 Shares 
              Total number of Shares held    vested on                                    Total number of Shares held 
              under the DBP prior to                          Number of       Shares sold under the DBP after 
                                             27 April 2023    on 27 April 2023 
              27 April 2023                                                               27 April 2023 
 
 
Afonso Reis e 61,189                         20,396           9,601                       40,793 
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:

 
              Total number of Shares held     Number of Shares vested   Number of         Total number of Shares held 
              under the DBSP prior to         on 27 April 2023          Shares sold       under the DBSP after 
              27 April 2023                                             on 27 April 2023  27 April 2023 
 
Afonso Reis e 6,300                           6,300                     2,966             0 
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 Shares 
              held in the Company      Total number of Shares held   Total number of Shares held in the Company after 
              prior to                 in the Company after 27 April 27 April 2023, expressed as % of the total shares 
                                       2023                          in issue 
              27 April 2023 
Ayman Asfari  84,985,685               84,990,994                    16.280% 
Afonso Reis e 43,683                   58,630                        0.011% 
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

[phone]

James Boothroyd, Head of Investor Relations

[e-mail]

Sophie Reid, Group Head of Communications

[e-mail]

Teneo

[phone]

[e-mail]

Martin Robinson

----------------------------------------------------------------------------------------------------------------------- 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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(END) Dow Jones Newswires

April 27, 2023 09:52 ET (13:52 GMT)