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LONDON - Petrofac (LON:PFC) Limited has announced the block listing of 3,500,242 new ordinary shares, to be admitted to the Official List and traded on the London Stock Exchange (LON:LSEG)’s main market. The shares, each valued at US$0.02, will be issued in connection with the company’s employee benefit schemes, specifically The Petrofac Performance Share Plan 2014 and The Petrofac Deferred Bonus Plan 2021.
These new shares will be allotted to the company’s Employment Benefit Trust and are expected to rank equally with existing shares upon their admission, which is anticipated to be effective as of Thursday. The new shares will carry the same rights as current shares, including the entitlement to any declared dividends and distributions.
Following the admission of the new shares, Petrofac’s issued share capital will consist of 528,874,000 shares, each with voting rights. This figure will serve as the denominator for shareholders to calculate notifications of changes in their shareholding as per the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules. Petrofac has confirmed that it does not hold any shares in Treasury.
The expansion of Petrofac’s share capital through this block listing is a procedural step in administering the company’s employee benefit plans. Shareholders and interested parties can use the total number of voting rights as a reference for their regulatory disclosures.
This announcement is based on a press release statement and is intended to provide shareholders with the pertinent details regarding the new share listing and its implications for share capital and voting rights.
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