25th Nov 2008 15:45
25 November 2008
Petrofac Limited (the "Company")
Holding in Company
In accordance with DTR 5.1.2, Petrofac ESOP Trustees Limited ("PETL") informed the Company today that on 21 November 2008 it had transferred its entire shareholding of 13,183,222 ordinary shares ("shares") in the Company to its underlying beneficiaries and thus no longer has a notifiable percentage of voting rights, its percentage of voting rights in the Company having fallen from 3.82% to 0%. The Company has 345,434,858 shares in issue and each share has one voting right.
PETL was established for the purpose of holding shares on behalf of Petrofac employees and certain directors who had acquired shares through one of the Company's share incentive schemes which came to an end at the time of the listing of the Company's shares in 2005. It was felt an appropriate time to simplify administration by dissolving PETL which is not required for the administration of the Company's current share schemes. As a result employees have been able to direct that the shares held on their behalf by PETL should be transferred either directly to them or to Capita IRG Trustees (Nominees) Limited which already acts as a nominee on behalf of certain employee shareholders. The beneficial ownership of the shares previously registered in the name of PETL remains unchanged by this transaction.
Contact for enquiries:
Petrofac Limited
Mary Hitchon 020 7811 4900
ENDS
Related Shares:
Petrofac