Director/PDMR Shareholding

RNS Number : 0348F

Petrofac Limited

17 May 2013

 



17 May 2013

Petrofac Limited (the 'Company')

Notification of Transactions by

Persons Discharging Managerial Responsibilities

Pursuant to the Company's obligations under Disclosure and Transparency Rule 3.1.4, the Company hereby makes the following notifications in respect of its Directors. Following the end of a prohibited period, the vesting of ordinary shares of US$0.02 each in the Company (the 'Shares') under the Petrofac Performance Share Plan ('PSP'), the Petrofac Deferred Bonus Share Plan ('DBSP') and the Restricted Share Plan (RSP) took place yesterday; as well as purchases of Shares on the market. The Company takes the view that it is only its Directors who may be regarded as Persons Discharging Managerial Responsibilities ('PDMRs'). The following tables set out details of each transaction with the final table detailing Directors' shareholdings as at today's date.

RSP

Andy Inglis became entitled on 16 May 2013 to 21,459 Shares at nil cost, following the automatic vesting of approximately one third of the Shares awarded to him under the RSP on 5 January 2011.  Mr Inglis elected not to sell any of these Shares and, as a consequence, his shareholding in the Company has increased by the total number of Shares vested. 

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. 

Director	Total number of Shares  held under the PSP prior to 16 May 2013	Number of Shares vested on 16 May 2013	Number of       Shares sold on 16 May 2013	Total number of Shares held under the PSP after 16 May 2013
Ayman Asfari1	275,540	94,169	44,326	181,371
Maroun Semaan2	159,929	70,949	-	88,980
Marwan Chedid2	88,291	20,020	-	68,271

¹Ayman Asfari elected not to sell any Shares in excess of the number required to be sold to satisfy his tax liability. The average share price for the Shares sold was 1330.9696 pence. His shareholding in the Company has therefore increased by the number of his unsold vested Shares.

² Maroun Semaan and Marwan Chedid elected not to sell any Shares and, as a consequence, their respective shareholdings in the Company have increased by the number of Shares vested.

DBSP

Under the DBSP, selected employees are required to defer a proportion of their annual cash bonus in Shares. Prior to Marwan Chedid's appointment as Chief Executive of Engineering, Construction, Operations & Maintenance (ECOM) he was entitled to participate in the DBSP. The following notification sets out his penultimate vesting and subject to a number of limited exceptions and provided he does not leave the Company's employment, the final tranche of his DBSP shares will vest next year.

Director	Total number of Shares held under the DBSP prior to 16 May 2013	Number of Shares vested on 16 May 2013	Number of Shares sold on 16 May 2013	Total number of Shares held under the DBSP after 16 May 2013
Marwan Chedid	47,700	26,800	-	20,900

Share purchases

In addition, the Company has been notified that on 16 May 2013 Mrs Pamela Murray, wife of Norman Murray, Chairman of the Company, and Tim Weller, Chief Financial Officer, have each bought Shares. Details of the individual transactions, which were carried out on the London Stock Exchange, are listed below:

Director	Date	Number of Shares purchased	Average price per Share
Norman Murray	16 May 2013	7,500	1333.000p
Tim Weller	16 May 2013	7,454	1341.287p

Beneficial Interest in Shares

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

Director	Total number of Shares held in the Company prior to 16 May 2013	Total number of Shares held in the Company after 16 May 2013	Total number of Shares held in the Company after 16 May 2013, expressed as % of the total shares in issue
Norman Murray	9,630	17,130	0.00
Ayman Asfari	62,900,835	62,950,678	18.20
Maroun Semaan	28,217,864	28,288,813	8.18
Marwan Chedid	1,321,913	1,368,733	0.40
Andy Inglis	18,035	39,494	0.01
Tim Weller	28,253	35,707	0.01

The Company's issued share capital consists of 345,891,490 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

Sofia Bernsand/Andrew Wilkinson

020 7811 4900

Tulchan Communications Group Ltd                                  

Martin Robinson

Tel: [phone]

[e-mail]

 

END

 

 

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