Petrofac Limited: Financial Restructuring: Update On Court Process And 2024 Results Timetable

DJ Petrofac Limited: FINANCIAL RESTRUCTURING: UPDATE ON COURT PROCESS AND 2024 RESULTS TIMETABLE

Petrofac Limited ( PFC) 
Petrofac Limited: FINANCIAL RESTRUCTURING: UPDATE ON COURT PROCESS AND 2024 RESULTS TIMETABLE 
21-March-2025 / 07:00 GMT/BST 
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21 March 2025 
 
FINANCIAL RESTRUCTURING: UPDATE ON COURT PROCESS AND 2024 RESULTS TIMETABLE 
 
 
Court approves creditor class composition 
 
Further to its announcement on 28 February 2025, the Convening Hearing for Petrofac's financial restructuring took 
place yesterday. The court approved the creditor class composition proposed in the restructuring plan and ordered the 
convening of creditor meetings. Details of these meetings will be communicated to the relevant parties in due course. 
 
The Sanction Hearing will take place between 30 April and 2 May 2025. The restructuring effective date is expected to 
occur shortly thereafter. 
 
2024 results timeline 
 
As a consequence of the restructuring effective date being expected to fall after 30 April 2025, the Group has 
determined it appropriate to defer the finalisation and publication of its audited annual results. It expects to 
publish results shortly after the restructuring effective date. 
In accordance with its listing rules, therefore, trading in the Company's shares will be temporarily suspended from 1 
May 2025 until such time as its full year 2024 results are published. 
 
Subscription period 
 
On 12 March 2025, the Company opened the subscription period during which secured creditors can elect to participate in 
the new money options available to them under the terms of the restructuring. Further information regarding this 
process, timing and documentation is available through Kroll Issuer Services Limited as information agent. 
 
 
 
Retail shareholder support 
 
Further to its announcement dated 6 March 2025, the Group draws the attention of retail investors to the appointment of 
Jon Yorke as independent representative. Those who held shares between 7 October 2005 and 5 October 2021 and think they 
may have a claim that is affected by the restructuring plan, are encouraged to contact Mr Yorke, without charge, by 
emailing [e-mail]. Doing so will not affect your legal rights. 
 
 
ENDS 
 
For further information contact: 
Petrofac Limited 
[phone] 
 
David Boyd, Investor Relations Consultant 
[e-mail] 
 
Sophie Reid, Group Director of Communications 
[e-mail] 
 
Teneo (for Petrofac) 
[phone] 
[e-mail] 
 
 
 
NOTES TO EDITORS 
 
Petrofac 
 
Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including 
many of the world's leading energy companies. 
 
Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. 
Our purpose is to enable our clients to meet the world's evolving energy needs. Our four values - driven, agile, 
respectful and open - are at the heart of everything we do. 
 
Petrofac's core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where we have built 
a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and 
local delivery model with a strong focus on in-country value. We operate in several other significant markets, 
including India, South East Asia and the United States. We have 8,000 employees based across 31 offices globally. 
 
Petrofac is quoted on the London Stock Exchange (symbol: PFC). 
 
For additional information, please refer to the Petrofac website at www.petrofac.com 
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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: MSCH 
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.:  379695 
EQS News ID:  2104144 
 
End of Announcement EQS News Service 
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March 21, 2025 03:00 ET (07:00 GMT)