Director/PDMR Shareholding

RNS Number : 1043M

Petrofac Limited

22 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 Subramanian Sarma, a PDMR of the Company has granted security over up to 588,940 shares in the Company, which represents Mr Sarma's entire beneficial interest in Petrofac and up to 0.17pc of its issued share capital. 

The shares have been pledged as part of a general pledge to provide security against a loan arrangement with Barclays Bank (Suisse) SA. Mr Sarma entered into this arrangement on 22 December 2007 prior to his designation as a PDMR.  

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For further information contact:

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