Director/PDMR Shareholding

RNS Number : 4610F

Petrofac Limited

09 March 2020

 

9 March 2020

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 and vestings of ordinary shares of US$0.02 each in the Company (the 'Shares') under the Petrofac Performance Share Plan ('PSP') which took place on 6 March 2020. The Company takes the view that it is only its Directors who may be regarded as Persons Discharging Managerial Responsibilities ('PDMRs').

These awards and vestings form part of the Company's annual bonus cycle. Details of each PDMR's position before and after the awards and vestings are outlined in the tables below.

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 6 March 2020 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 6 March 2020	Number of Shares vested on 6 March 20203	Number of Shares lapsed on 6 March 2020 3	Number of  Shares sold on 6 March 2020	Number of  Shares awarded under the PSP on 6 March 2020	Total number of Shares held under the PSP after 6 March 2020
Ayman Asfari1	958,142	51,271	286,039	-	483,633	1,104,465
Alastair Cochran2	593,253	31,551	176,023	14,852	309,084	694,763

¹ Ayman Asfari elected not to sell any Shares and, as a consequence, his shareholding in the Company has increased by the number of Shares vested. See the table below for details of his shareholding after 6 March 2020.

² Alastair Cochran elected to sell sufficient Shares to satisfy his tax liability. The share price for the Shares sold was 271.75 pence. His shareholding in the Company has therefore increased by the number of his unsold vested Shares. See the table below for details of his shareholding after 6 March 2020. 

 ³ Following the end of the three year performance period in respect of the 2017 PSP award, the performance conditions were such that 15.2% of the award vested, with the balance lapsing. 

Following these transactions, the PDMRs and their connected persons hold the following beneficial interests in the Company.

	Total number of Shares held in the Company prior to 6 March 2020	Total number of Shares held in the Company after 6 March 2020	Total number of Shares held in the Company after 6 March 2020, expressed as % of the total shares in issue
Ayman Asfari	65,087,976	65,139,247	18.831%
Alastair Cochran	77,819	94,518	0.027%

The Company's issued share capital consists of 345,912,747 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:

Alison Flynn, Group Head of Communications

[e-mail]  

[phone]

Jonathan Yarr, Head of Investor Relations

[e-mail]

[phone]

Tulchan Communications Group Ltd     

Martin Robinson

Tel: [phone]

[e-mail]

LEI 2138004624W8CKCSJ177

 

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