Director/PDMR Shareholding

RNS Number : 0214M

Petrofac Limited

21 January 2009

 



PETROFAC LIMITED

Director/PDMR shareholding 

The FSA issued guidance on 9 January 2009 which clarified obligations to disclose security granted over shares held by Persons Discharging Managerial Responsibilities (PDMRs) and their connected persons. 

Following this guidance, the Company discloses that the Lamia Trust, of which a director of the Company, Ayman Asfari, and his close family are beneficiaries, has granted security over up to 11,000,000 shares in the Company, which represents up to 3.18% of the Company's issued share capital. The shares have been pledged as security against a loan arrangement with the Bank of Scotland.  

The Lamia Trust entered into this arrangement on 9 March 2007 after prior approval had been obtained from the Board of the Company.  

Mr Asfari has a beneficial interest in 53,782,114 shares, which represents 15.6% of the Company's issued share capital. The Company has 345,434,858 shares in issue at today's date and each share has one voting right. Under the terms of the pledge agreement, the Lamia Trust continues to exercise voting rights over the shares under pledge.  

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For further information contact:

Petrofac Limited Mary Hitchon, Secretary to the Board	[phone]
Bell Pottinger Corporate & Financial Charles Cook	[phone]

Notes to Editors

Petrofac

Petrofac is a leading international provider of facilities solutions to the oil & gas production and processing industry, with a diverse customer portfolio including many of the world's leading integrated, independent and national oil & gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC).  

The group delivers services through seven business units: Engineering & Construction, Engineering & Construction Ventures, Engineering Services, Offshore Engineering & Operations, Training, Production Solutions and Energy Developments.

Through these businesses Petrofac designs and builds oil & gas facilities; operates, maintains and manages facilities and trains personnel; enhances production; and, where it can leverage its service capability, develops and co-invests in upstream and infrastructure projects. Petrofac's range of services meets its customers' needs across the full life cycle of oil & gas assets.

With more than 10,000 employees, Petrofac operates out of five strategically located operational centres, in Aberdeen, Sharjah, Woking, Chennai and Mumbai and a further 19 offices worldwide. The predominant focus of Petrofac's business is on the UK Continental Shelf (UKCS), the Middle East and Africa, the Commonwealth of Independent States (CIS) and the Asia Pacific region.

For additional information, please refer to the Petrofac website at www.petrofac.com.

 

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