DJ Petrofac Limited: Director/PDMR shareholding
Petrofac Limited ( PFC)
Petrofac Limited: Director/PDMR shareholding
02-Oct-2024 / 12:04 GMT/BST
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2 October 2024
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 Directors and the vesting of awards of ordinary shares of USUSD0.02 each in the Company
(the 'Shares') granted to the Directors under the Petrofac Performance Share Plan ('PSP') in 2021 and the Deferred
Bonus Plan (DBP) in 2022 and 2023. The vestings took place on 1 October 2024 in accordance with the terms of the PSP
and DBP.
PSP
PSP awards are made by the Company to senior executives and generally vest on the third anniversary of the date of
grant to the extent that performance conditions have been satisfied. Awards are made at nil cost to participants.
Details of the vesting under the PSP, which took place on 1 October 2024, including the position before and after the
vesting, are outlined below:
Number of Number of
Total number of Shares Shares vested Number of Shares Shares
held under the PSP prior on lapsed on 1 October sold Total number of Shares held
to 20242 under the PSP after 1 October
1 October on 2024
1 October 2024 20242
1 October
2024
Afonso Reis e 2,212,101 81,816 163,878 38,597 1,966,407
Sousa1
1 Afonso Reis e Sousa sold sufficient Shares to satisfy his tax liability. The share price for the Shares sold was 14.1992 pence. His shareholding in the Company has therefore increased by the number of unsold vested Shares. In accordance with our share retention guidelines, unsold vested PSP Shares are subject to a two-year holding period until 1 October 2026.
2 Following the end of the three-year performance period in respect of the 2021 PSP award, the performance conditions were such that 33.3% of the award vested. The balance of Shares lapsed.
DBP
In line with the Company's remuneration arrangements, any bonus awarded will usually be paid to Executive Directors half in cash and half in deferred shares under the DBP. Awards will generally vest in equal tranches over one, two and three years from the date of grant, provided a participant does not leave the Company's employment. Awards are made at nil cost to participants.
Mr Kawash was granted an ad hoc award under the DBP in line with his joining arrangements. These shares are not subject to performance conditions and will vest, subject inter alia, to continued employment, over the following two years.
Details of the vestings under the DBP which took place on 1 October 2024 for each Director, including the position before and after the vestings, are outlined below:
Number of Shares
Total number of Shares held vested on Total number of Shares held
under the DBP prior to Number of Shares sold under the DBP after
1 October 2024 on 1 October 2024
1 October 2024 1 October 2024
Tareq Kawash1 536,097 178,699 84,130 357,398
Afonso Reis e 165,389 58,868 27,811 106,521
Sousa1
1 Tareq Kawash and Afonso Reis e Sousa each sold sufficient Shares to satisfy their tax liabilities. The share price for the Shares sold was 14.1992 pence. Their shareholdings in the Company have therefore increased by the number of unsold vested Shares.
Following the above-noted transactions, the PDMRs and their connected persons hold the following beneficial interests in the Company:
Total number of Shares
held in the Company Total number of Shares held Total number of Shares held in the Company after 1
prior to in the Company after 1 October 2024, expressed as % of the total shares
October 2024 in issue
1 October 2024
Tareq Kawash 94,584 189,153 0.036%
Afonso Reis e 58,630 132,906 0.025%
Sousa
The Company's issued share capital consists of 525,373,758 Shares with voting rights. Each Share carries the right to one vote. The Company does not hold any Shares in Treasury.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1 Details of the person discharging managerial responsibilities / person closely associated
Name
a) Tareq Kawash
2 Reason for the notification
Position/status
a)
Group Chief Executive
Initial notification /Amendment
b)
Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
Name
a)
Petrofac Limited
LEI
b)
2138004624W8CKCSJ177
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
4 transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument, type Ordinary Shares of USUSD0.02
of instrument
a)
Identification code GB00B0H2K534
Nature of the transaction
b) Vesting of award of shares under the Petrofac Deferred
Bonus Plan 2021 - Nil Cost Awards & sale of sufficient
shares to account for tax liability
Price(s) and volume(s)
c) Price per share (GBP) Volume(s)
GBP0.141992 178,699
Aggregated information
d) - Aggregated volume 178,699
- Price GBP0.141992
Date of the transaction
e)
2024-10-01
Place of the transaction
f)
London Stock Exchange
1 Details of the person discharging managerial responsibilities / person closely associated
Name
a) Afonso Reis e Sousa
2 Reason for the notification
Position/status
a)
Chief Financial Officer
Initial notification /Amendment
b)
Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
Name
a)
Petrofac Limited
LEI
b)
2138004624W8CKCSJ177
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
4 transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument, Ordinary Shares of USUSD0.02
type of instrument
a)
Identification code GB00B0H2K534
Nature of the transaction
b) Vesting of award of shares under the Petrofac Performance Share
Plan 2014 & the Petrofac Deferred Bonus Plan 2021 - Nil Cost
Awards & sale of sufficient shares to account for tax liability
Price(s) and volume(s)
c) Price per share (GBP) Volume(s)
GBP0.141992 140,684
Aggregated information
d) - Aggregated volume 140,684
- Price GBP0.141992
Date of the transaction
e)
2024-10-01
Place of the transaction
f)
London Stock Exchange
For further information contact:
Petrofac Limited
+44 (0) 20 7811 4900
James Boothroyd, Head of Investor Relations
James.boothroyd@petrofac.com
Sophie Reid, Group Head of Communications
Sophie.reid@petrofac.com
Teneo (for Petrofac)
+44 (0) 207 353 4200
petrofac@teneo.com
----------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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ISIN: GB00B0H2K534 Category Code: DSH TIDM: PFC LEI Code: 2138004624W8CKCSJ177 OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 350553 EQS News ID: 2000741 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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October 02, 2024 07:05 ET (11:05 GMT)
