Petrofac Limited Director/PDMR Shareholding (4610F)
09 Marzo 2020 - 01:08PM
UK Regulatory
TIDMPFC
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 Number Number Number Number Total number
of Shares of Shares of Shares of Shares of Shares of Shares
held under vested lapsed sold awarded held under
the PSP on 6 March on 6 March on under the the PSP
prior to 2020(3) 2020 (3) 6 March PSP on after
6 March 2020 6 March 6 March
2020 2020 2020
Ayman Asfari(1) 958,142 51,271 286,039 - 483,633 1,104,465
------------- ------------ ------------ ----------- ----------- -------------
Alastair Cochran(2) 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 Total number of Total number of
Shares held in the Shares held in Shares held in
Company prior to the Company after the Company after
6 March 2020 6 March 2020 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
alison.flynn@petrofac.com
+44 (0) 207 811 4913
Jonathan Yarr, Head of Investor Relations
jonathan.yarr@petrofac.com
+44 (0) 207 811 4931
Tulchan Communications Group Ltd
Martin Robinson
Tel: +44 (0) 20 7353 4200
petrofac@tulchangroup.com
LEI 2138004624W8CKCSJ177
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END
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March 09, 2020 08:08 ET (12:08 GMT)
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