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    PFC   GB00B0H2K534

PETROFAC LIMITED

(PFC)
  Report
Delayed Quote. Delayed London Stock Exchange - 11/26 11:36:54 am
109.9 GBX   -8.49%
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Petrofac Limited : Publication of the combined Circular and Prospectus

10/26/2021 | 12:38pm EST

Petrofac Limited ( PFC) Petrofac Limited: Publication of the combined Circular and Prospectus 26-Oct-2021 / 17:37 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

----------------------------------------------------------------------------------------------------------------------- Press Release

26 October 2021

NOT FOR RELEASE, PUBLICATION, TRANSMISSION, DISTRIBUTION OR FORWARDING, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, THE COMMONWEALTH OF AUSTRALIA, ITS TERRITORIES AND POSSESSIONS, EACH PROVINCE AND TERRITORY OF CANADA, JAPAN, SWITZERLAND AND THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.

PLEASE SEE THE IMPORTANT INFORMATION AT THE END OF THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND DOES NOT CONSTITUTE A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT. NOTHING HEREIN SHALL BE CONSTRUED AS ANY OFFER, INVITATION OR RECOMMENDATION TO PURCHASE, SELL OR SUBSCRIBE FOR ANY SECURITIES IN ANY JURISDICTION AND NEITHER THE ISSUE OF INFORMATION NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF OR BE RELIED UPON IN CONNECTION WITH, OR ACT AS AN INDUCEMENT TO ENTER INTO, ANY INVESTMENT ACTIVITY.

ANY DECISION TO PURCHASE, SUBSCRIBE FOR, OTHERWISE ACQUIRE, SELL OR OTHERWISE DISPOSE OF SECURITIES MENTIONED HEREIN MUST BE MADE ONLY ON THE BASIS OF THE INFORMATION CONTAINED IN AND INCORPORATED BY REFERENCE INTO THE PROSPECTUS.

Publication of the combined Circular and Prospectus (the "Prospectus")

Further to the announcement earlier today relating to the proposed Firm Placing, Placing and Open Offer (the " Announcement"), Petrofac Limited (the "Company" or "Petrofac") is pleased to announce that the Prospectus has been approved by the Financial Conduct Authority and has been published.

The Prospectus contains a Notice convening a General Meeting to be held at 10.00 a.m. on Friday 12 November 2021.

Defined terms in this announcement shall have the meaning ascribed to them in the Capital Raise Announcement unless otherwise specified.

A copy of the Prospectus will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

The Prospectus will also be available on the Company's website at: www.petrofac.com, subject to certain exceptions.

Ends

For further information contact:

Petrofac Limited

+44 (0) 207 811 4900

Jonathan Yarr, Head of Investor Relations

jonathan.yarr@petrofac.com

Alison Flynn, Group Director of Communications and Sustainability

alison.flynn@petrofac.com

The person responsible for arranging the release of this announcement on behalf of Petrofac is Alison Broughton, Secretary to the Board.

Tulchan Communications Group

+44 (0) 207 353 4200

petrofac@tulchangroup.com

Martin Robinson

petrofac@tulchangroup.com

Goldman Sachs

+44 (0) 207 774 1000

Bertie Whitehead

Chris Pilot

Tom Hartley

J.P. Morgan

+44 (0)20 7742 4000

Edmund Byers

Barry Weir

Will Holyoak

Detailed timetable

Record Date for entitlements under the Open Offer                                                  6.00 p.m. on 25 
                                                                                                   October 2021 
Announcement of the Capital Raise                                                                  7.00 a.m. on 26 
                                                                                                   October 2021 
Announcement of the results of the Firm Placing and Placing                                        26 October 2021 
Publication of Prospectus and posting of Prospectus and Application Forms                          26 October 2021 
Ex-entitlement date for the Open Offer                                                             27 October 2021 
                                                                                                   As soon as 
                                                                                                   practicable after 
Open Offer Entitlements credited to stock accounts in CREST of Qualifying CREST Shareholders 
                                                                                                   8.00 a.m. on 28 
                                                                                                   October 2021 
Latest recommended time and date for requesting withdrawal of Open Offer Entitlements from CREST   4.30 p.m. on 5 
                                                                                                   November 2021 
Latest recommended time and date for depositing Open Offer Entitlements into CREST                 3.00 p.m. on 8 
                                                                                                   November 2021 
Latest time and date for splitting Application Forms (to satisfy bona fide market claims)          3.00 p.m. on 9 
                                                                                                   November 2021 
Latest time and date for receipt of Forms of Proxy or submission of proxy appointments             10.00 a.m. on 10 
electronically                                                                                     November 2021 
Latest time and date for receipt of completed Application 
                                                                                                   11.00 a.m. on 11 
Forms and payment in full under the Open Offer or settlement of relevant CREST instructions (as    November 2021 
appropriate) 
General Meeting                                                                                    10.00 a.m. on 12 
                                                                                                   November 2021 
Announcement of the results of the General Meeting and Capital Raise                               12 November 2021 
Admission and commencement of dealings in respect of New Shares and CREST stock accounts credited  15 November 2021 
in respect of New Shares on the London Stock Exchange 
Despatch of share certificates in respect of New Shares in certificated form                       on or around 29 
                                                                                                   November 2021 

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 approximately 8,500 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

IMPORTANT INFORMATION

This announcement (the "Announcement") does not constitute an offer to sell or a solicitation of an offer to purchase any securities in any jurisdiction.

Any offer to acquire the Company's securities pursuant to the proposed Capital Raise referred to in these materials will be made, and any investor should make his, her or its investment, solely on the basis of information that will be contained in the Prospectus to be made generally available in the United Kingdom in connection with such Capital Raise. When made generally available, copies of the Prospectus may be obtained at no cost from the Company or through the website of the Company.

This Announcement and the information contained in it is not for publication, release, transmission, distribution or forwarding, in whole or in part, directly or indirectly, in or into the United States, Commonwealth of Australia, its territories and possessions, each province and territory of Canada, Japan, Switzerland and the Republic of South Africa or any other jurisdiction in which it would be unlawful to do so (together, the "Excluded Territories"). This Announcement is for information purposes only and does not constitute an offer to sell or issue or the solicitation of an offer to buy, acquire or subscribe for shares in any of the Excluded Territories. This Announcement has not been approved by the London Stock Exchange plc (the "London Stock Exchange"). Any failure to comply with these restrictions may constitute a violation of the securities laws of such jurisdictions.

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October 26, 2021 12:37 ET (16:37 GMT)

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Financials (USD)
Sales 2021 3 178 M - -
Net income 2021 49,1 M - -
Net Debt 2021 222 M - -
P/E ratio 2021 10,5x
Yield 2021 -
Capitalization 754 M 753 M -
EV / Sales 2021 0,31x
EV / Sales 2022 0,34x
Nbr of Employees 10 645
Free-Float 81,2%
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Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 1,47 $
Average target price 2,34 $
Spread / Average Target 58,8%
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Sami Monir Amin Iskander Chief Executive Officer & Executive Director
Afonso Reis E Sousa i Chief Financial Officer & Executive Director
René Médori Non-Executive Chairman
Tarek Massoud Chief Compliance Officer
Matthias F. Bichsel Senior Independent Non-Executive Director
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