Petrofac Limited Board statement (7994C)
24 January 2018 - 10:09PM
UK Regulatory
TIDMPFC
RNS Number : 7994C
Petrofac Limited
24 January 2018
Press Release
24 January 2018
BOARD STATEMENT
Petrofac Limited ("Petrofac" or "the Company") announces that it
has been informed by its Group Chief Executive Ayman Asfari (Mr
Asfari) that the UK High Court of Justice has today handed down a
judgment that Mr Asfari was not served process in connection with
the administrative sanctions made against him by the Italian
National Commission for Companies and the Stock Exchange
("CONSOB"), and therefore has ordered that the Certificate of
Service relating thereto should be set aside and annulled.
The UK High Court order will be served on CONSOB, who will have
seven days following service to apply to set aside or vary the
judgment. Mr Asfari continues to refute all of the charges made
against him and is engaged in appeal proceedings in Italy.
Rijnhard van Tets, Petrofac's Chairman, said: "The Board has
supported Ayman in his defence from the outset and this decision
confirms his assertion that due process was not followed. We hope
that a swift conclusion will now be reached to prove that in no way
did Ayman act improperly."
The Board attaches a personal statement from Mr Asfari in
connection with this issue.
Ends
PERSONAL STATEMENT BY AYMAN ASFARI
"I welcome today's ruling from the High Court which confirms, as
I have stated from the outset, that I was never served the CONSOB
notice of charges against me, and consequently I was never given
the chance to defend myself.
"I have always emphatically maintained that I have done nothing
wrong. Whilst I am pleased with today's decision by the UK courts,
I have also commenced an appeal process in the Italian courts on
both the merits and the procedure of the case, in which I have set
out my defence and the evidence that supports it, and will continue
to pursue vigorously the fair and swift resolution of this issue in
full."
Ends
This announcement contains inside information which is disclosed
in accordance with the Market Abuse Regulation which came into
effect on 3 July 2016
For further information contact:
Petrofac Limited
+44 (0) 207 811 4900
Jonathan Low, Head of Investor Relations
jonathan.low@petrofac.com
Alison Flynn, Group Head of Communications
alison.flynn@petrofac.com
+44 (0) 207 811 4913
Tulchan Communications Group
+44 (0) 207 353 4200
petrofac@tulchangroup.com
Martin Robinson
LEI 2138004624W8CKCSJ177
Notes to Editors
Petrofac is a leading international service provider to the oil
& gas production and processing industry, with a diverse client
portfolio including many of the world's leading integrated,
independent and national oil & gas companies. Petrofac is
quoted on the London Stock Exchange (symbol: PFC).
Petrofac designs and builds oil & gas facilities; operates,
maintains and manages facilities and trains personnel; enhances
production; and, where it can leverage its service capability,
develops and co-invests in upstream and infrastructure projects.
Petrofac's range of services meets its clients' needs across the
full life cycle of oil & gas assets.
With around 12,500 employees, Petrofac operates out of seven
strategically located operational centres, in Aberdeen, Sharjah,
Abu Dhabi, Woking, Chennai, Mumbai and Kuala Lumpur and has a
further 24 offices worldwide.
For additional information, please refer to the Petrofac website
at www.petrofac.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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