Petrofac Limited: Result Of General Meeting And Plan Meetings

DJ Petrofac Limited: RESULT OF GENERAL MEETING AND PLAN MEETINGS

Petrofac Limited ( PFC) 
Petrofac Limited: RESULT OF GENERAL MEETING AND PLAN MEETINGS 
28-Apr-2025 / 13:56 GMT/BST 
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28 April 2025 
 
RESULT OF GENERAL MEETING AND PLAN MEETINGS 
 
The General Meeting and Plan Creditor meetings specified in the previously announced Restructuring Plans have now taken 
place. The voting results demonstrated very strong levels of support for the Restructuring Plan by both shareholders 
and creditors and represent an important step towards the Restructuring becoming effective. 
GENERAL MEETING 
The Company hereby confirms that all resolutions set out in the Notice of Meeting and Circular for the General Meeting 
of Petrofac Limited held on 28 April 2025 were duly passed by shareholders on a poll. 
The total number of votes cast for each resolution is as follows: 
No.      Resolution            In Favour / Discretion %*   Against  %*  Withheld 
1       New Shares and New Warrants    188,886,041      98.25% 3,372,495 1.75% 374,876 
2       Pre-emption Rights        188,625,179      98.13% 3,585,225 1.87% 423,008 
3       Authorised Share Capital     188,757,366      98.18% 3,508,587 1.82% 367,459 
4       Share Consolidation        188,768,239      98.21% 3,435,997 1.79% 429,176 
5       Historic B Shares         188,908,380      98.47% 2,934,400 1.53% 790,632 
6       Company's Level of Borrowing   189,088,552      98.54% 2,795,722 1.46% 749,138 
7       Maximum Aggregate Fees      187,282,493      97.65% 4,511,529 2.35% 839,390 
8       Historical Regulatory Authorities 189,025,559      98.34% 3,196,148 1.66% 411,705 
9       Allotment of Shares        178,862,470      93.06% 13,340,511 6.94% 430,431 

* percentage of votes cast excludes withheld votes.

The number of shares in issue at the date of the Meeting was 528,874,000 ordinary shares of USUSD0.02 each in the Company (the "Shares") and each Share attracted one vote. Votes 'For' included votes at the discretion of the Chairman. All valid proxy votes and voting instructions (whether submitted electronically or in hard copy form) were included in the poll taken at the meeting. The total number of votes cast was 192,265,953 (36.35% of the share register).

The full text of each resolution is contained in the Notice of General Meeting and Circular, which is available on the Company's website, www.petrofac.com. A copy of the poll results for the GM will also be available on the Company's website.

In accordance with Listing Rule 6.4.2, a copy of the resolutions (as set out in the Notice of General Meeting and Circular), will be submitted today to the Financial Conduct Authority's national storage mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

PLAN MEETINGS

The Plan Creditor meetings specified in the Restructuring Plans took place on 23 April 2025. A summary of the results is as follows, with full details of the votes set out in Note 1 below.

-- Of the 12 creditor classes in total (across the two plan companies), 9 classes voted in favour, withthree classes voting against.

-- Of the 6 secured creditor classes (across the two plan companies), all six voted 100% in favour

-- Of the 6 unsecured creditor classes (across the two plan companies), 3 voted in favour and 3 votedagainst.

-- In eight cases the approval levels were 100% and in the ninth it was over 99.9%

-- Turnout was very high in all classes, with turnout in the Senior Secured Funded Class being over 88% andall other classes having a turnout of more than 95%

-- The three classes who voted against the Plans were connected to the Thai Oil Clean Fuels Project. Thiswas anticipated, and in line with their existing challenge to the Restructuring Plans, which will be addressed atthe Sanction Hearing The Sanction Hearing will take place from 30 April to 2 May 2025 before a Judge of the High Court of Justice in England.

ENDS

NOTE 1:

Voting for 
Plan meeting                   Voting against Abstention 
 
 
PL Senior Secured Funded 
Creditors Plan Meeting         100%    0%       0% 
 
PIUL Senior Secured Funded 
Creditors Plan Meeting         100%    0%       0% 
 
PL CBG Notes Providers Plan Meeting 
                    100%    0%       0% 
 
PIUL CBG Notes Providers Plan Meeting 
                    100%    0%       0% 
 
PL ABN Plan Meeting 
                    100%    0%       0% 
 
PIUL ABN Plan Meeting 
                    100%    0%       0% 
 
PL Argonaut Plan Meeting 
                    100%    0%       0% 
 
PIUL Argonaut Plan Meeting 
                    100%    0%       0% 
 
Shareholder Claimants Plan Meeting   99.92%          0.01% 
                         0.07% 
 
PL Other Unsecured Plan 
Creditors Plan Meeting         0%     100%      0% 
 
PIUL Other Plan Creditors Plan Meeting 
                    0%     100%      0% 
 
PL Thai Oil JV / PSS Plan 
Creditors Plan Meeting         0%     100%      0% 
 

For further information contact:

Petrofac Limited

[phone]

David Boyd

Investor Relations Consultant

[e-mail]

Sophie Reid, Group Director of Communications

[e-mail]

Teneo (for Petrofac)

[phone]

[e-mail]

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 8,000 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

----------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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ISIN:      GB00B0H2K534 
Category Code: ROM 
TIDM:      PFC 
LEI Code:    2138004624W8CKCSJ177 
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State 
Sequence No.:  385102 
EQS News ID:  2125620 
 
End of Announcement EQS News Service 
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April 28, 2025 08:56 ET (12:56 GMT)