8th Mar 2016 10:00
8 March 2016
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 Executive Directors and awards 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 2016. The Company takes the view that it is only its Directors who may be regarded as Persons Discharging Managerial Responsibilities ('PDMRs').
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 form part of the Company's annual bonus cycle and are made at nil cost to participants. Details of each PDMR's position before and after the awards are outlined below:
Total number of Shares held under the PSP prior to 6 March 2016 | Number of Shares awarded under the PSP on 6 March 2016 | Total number of Shares held under the PSP after 6 March 2016 | |
Ayman Asfari | 335,620 | 140,282 | 475,902 |
Marwan Chedid | 203,610 | 104,576 | 308,186 |
Tim Weller | 235,433 | 99,277 | 334,710 |
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
Related Shares:
Petrofac