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

04-May-2023 / 12:12 GMT/BST


4 May 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 Executive Directors and their awards of ordinary shares of US$0.02 each in the Company (the ‘Shares’) under the Petrofac Performance Share Plan (‘PSP’) and the Deferred Bonus Plan (‘DBP’), which took place on 3 May 2023.

 

PSP

PSP awards are made by the Company to senior executives and generally vest on the third anniversary of the date of grant, provided a participant does not leave the Company’s employment and to the extent that performance conditions have been satisfied. Awards are made at nil cost to participants.

 

Details of the awards under the PSP which took place on 3 May 2023 for each Executive Director, including the position before and after awards were made, are outlined below:     

 

 

Total number of Shares held under the PSP prior to

3 May 2023

Number of Shares awarded under the PSP on

3 May 2023

Total number of Shares held under the

PSP after

3 May 2023 

Tareq Kawash

0

2,894,924

2,894,924 

Afonso Reis e Sousa

1,011,244

1,200,857

2,212,101

 

 

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.

 

Mr Kawash was granted an ad hoc award under the DBP in line with his joining arrangements. These shares are not subject to performance conditions and will vest, subject inter alia, to continued employment, over the next two years.

 

Details of the awards under the DBP which took place on 3 May 2023 for each Executive Director, including the position before and after awards were made, are outlined below:     

 

 

Total number of Shares held under the DBP prior to

3 May 2023

Number of Shares awarded under the DBP on

3 May 2023

Total number of Shares held under the

DBP after

3 May 2023 

Tareq Kawash

0

714,796

714,796

Afonso Reis e Sousa

40,793

142,959

183,752

 

 

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

James.boothroyd@petrofac.com

 

Sophie Reid, Group Head of Communications

Sophie.reid@petrofac.com

 

Teneo Group

+44 (0) 20 7353 4200

petrofac@teneo.com

Martin Robinson

 

 

 



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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.: 241510
EQS News ID: 1624839

 
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UK Regulatory announcement transmitted by EQS Group AG. The issuer is solely responsible for the content of this announcement.