Last checked at 20 Mar 2015 08:16
20 March 2015
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 notification in respect of its Executive Directors and the Petrofac Performance Share Plan ('PSP').
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 granted to PDMRs in March 2012, which were due to vest on 19 March 2015 did not satisfy the performance conditions. Accordingly, all shares have lapsed. Details of each PDMR's position before and after this transaction are outlined below:
| Total number of Shares held under the PSP prior to 19 March 2015 | Number of Shares vested on 19 March 2015
| Number of Shares lapsed on 19 March 2015 | Total number of Shares held under the PSP after 19 March 2015 |
Ayman Asfari | 397,103 | - | 76,965 | 320,138 |
Marwan Chedid | 244,736 | - | 50,518 | 194,218 |
Tim Weller | 267,865 | - | 43,292 | 224,573 |
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:
Petrofac Limited
Andrew Wilkinson
020 7811 4900
Tulchan Communications Group Ltd
Martin Robinson
Tel: +44 (0) 20 7353 4200
petrofac@tulchangroup.com