Director/PDMR Shareholding

RNS Number : 0724M
Petrofac Limited
17 May 2010
 



17 May 2010

 

Petrofac Limited (the "Company")

 

Notification of Transactions by

Persons Discharging Managerial Responsibilities (PDMRs)

 

Following the completion of the Demerger of Petrofac's UK Continental Shelf oil and gas assets to EnQuest PLC, the Company has applied an adjustment factor of 1.08 (8%) to unvested share awards held under the Petrofac Performance Share Plan ("PSP"). This adjustment is intended to compensate awardholders for the fact they that they were not entitled to EnQuest PLC shares (and that the Petrofac Group has decreased in size).

 

In addition, the Company made a number of PSP awards to Directors and PDMRs on 14 May 2010. These awards form part of the Company's annual bonus awards ordinarily made on 19 March each year but which were postponed this year in order to enable the Company to make the awards under the revised PSP rules approved by shareholders at the Company's 2010 Annual General Meeting.

 

The awards will vest, provided a participant does not leave the Company's employment and to the extent that the performance conditions have been satisfied, on 19 March 2013. Awards were made at nil cost to participants.

 

The table below reflects both the application of the uplift factor and the PSP awards over ordinary shares of US$0.02 each in the Company (the "Shares") made to Directors and PDMRs on 14 May 2010.

 

 

 

 

 

 

 

 

 

Directors

Total number of unvested Shares held under the PSP before adjustment for the Demerger

Additional Shares received upon adjustment for the Demerger

Number of Shares

awarded under the PSP on

14 May 2010

Total number of Shares held under the

PSP after

14 May 2010

Total number of Shares held under the PSP after

14 May 2010, expressed as % of the total shares in issue

Ayman Asfari

220,571

17,645

88,213

326,429

0.094

Maroun Semaan

121,017

9,681

66,462

197,160

0.057

Keith Roberts

97,088

7,766

53,110

157,964

0.046

PDMRs






Marwan Chedid

48,598

3,887

18,754

71,239

0.021

Bill Dunnett

31,301

2,503

15,914

49,718

0.014

Gordon East

28,894

2,310

11,367

42,571

0.012

Paul Groves

-

-

3,637

3,637

0.001

Robert Jewkes

38,526

3,081

13,641

55,248

0.016

Richard Milne

61,451

4,915

17,279

83,645

0.024

Robin Pinchbeck

69,874

5,589

18,188

93,651

0.027

SS Sarma

29,626

2,369

12,503

44,498

0.013

Rajesh Verma

38,446

3,075

15,629

57,150

0.017

 

 

If participants and their connected persons hold Shares outside the PSP (or any other Company share incentive scheme), separate announcements are made under the Disclosure and Transparency Rules as required.

 

The Company's issued share capital consists of 345,629,656 Shares with voting rights. Each Share carries the right to one vote. The Company does not hold any Shares in Treasury.

 

 

Contact for enquiries:

 

Petrofac Limited

Sofia Bernsand

020 7811 4900


This information is provided by RNS
The company news service from the London Stock Exchange
 
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