9 March 2020
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Petrofac Limited (the 'Company')
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Notification of Transactions by
Persons Discharging Managerial Responsibilities
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Pursuant to the Company's obligations under Market Abuse Regulation 19, the Company hereby makes the following notifications in respect of its Executive Directors and their awards and vestings 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 2020. The Company takes the view that it is only its Directors who may be regarded as Persons Discharging Managerial Responsibilities ('PDMRs').
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These awards and vestings form part of the Company's annual bonus cycle. Details of each PDMR's position before and after the awards and vestings are outlined in the tables below.
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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 are made at nil cost to participants.
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Details of the awards under the PSP which took place on 6 March 2020 for each Executive Director, including the position before and after awards were made, are outlined below:�����
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| � � � ���������������������� | Total number of Shares� held under the PSP prior to 6 March 2020 | Number of Shares vested on 6 March 20203 � | Number of Shares lapsed on 6 March 20203 � | Number of������ Shares sold on 6 March 2020� | Number of� Shares awarded under the PSP on 6 March 2020 | Total number of Shares held under the PSP after 6 March 2020 |
| Ayman Asfari1 | 958,142 | 51,271 | 286,039 | - | 483,633 | 1,104,465�� |
| Alastair Cochran2 | 593,253 | 31,551 | 176,023 | 14,852 | 309,084 | 694,763 |
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1 Ayman Asfari elected not to sell any Shares and, as a consequence, his shareholding in the Company has increased by the number of Shares vested. See the table below for details of his shareholding after 6 March 2020.
2 Alastair Cochran elected to sell sufficient Shares to satisfy his tax liability. The share price for the Shares sold was 271.75 pence. His shareholding in the Company has therefore increased by the number of his unsold vested Shares. See the table below for details of his shareholding after 6 March 2020.��
�3 Following the end of the three year performance period in respect of the 2017 PSP award, the performance conditions were such that 15.2% of the award vested, with the balance lapsing.�
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Following these transactions, the PDMRs and their connected persons hold the following beneficial interests in the Company.
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| | Total number of Shares held in the Company prior to 6 March 2020 | Total number of Shares held in the Company after 6 March 2020 | Total number of Shares held in the Company after 6 March 2020, expressed as % of the total shares in issue |
| Ayman Asfari | 65,087,976 | 65,139,247 | 18.831% |
| Alastair Cochran | 77,819 | 94,518 | 0.027% |
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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.
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For further information contact:
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Alison Flynn, Group Head of Communications
+44 (0) 207 811 4913
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Jonathan Yarr, Head of Investor Relations
+44 (0) 207 811 4931
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Tulchan Communications Group Ltd��������� ������������ �����������
Martin Robinson
Tel: +44 (0) 20 7353 4200
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LEI 2138004624W8CKCSJ177
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