Petrofac Announces Plan Meetings for Financial Restructuring

Source: www.gulfoilandgas.com 3/31/2025, Location: Europe

At the Convening Hearing for Petrofac’s financial restructuring which took place before the English Court on 20 March 2025, the Court directed that 12 meetings of the Plan Companies and the creditors specified in the Restructuring Plans, will be convened on Wednesday 23 April 2025 at 10.00 BST (the “Plan Meetings”).

Seven Plan Meetings will be convened by Petrofac Limited (PL) and five Plan Meetings will be convened by Petrofac International UAE LLC (PIUL) for the purpose of considering and, if thought fit, approving the Restructuring Plans.

Further information on the Plan Meetings, including the creditor classes for these meetings, and information on how to submit a vote, is included in the Explanatory Statement available to creditors at https://deals.is.kroll.com/petrofac, and accompanied by a Shareholder Explanatory Letter available to shareholders at https://deals.is.kroll.com/petrofac-fsma-shareholders. All creditors are encouraged to read the Explanatory Statement in full.

Further to its announcement dated 6 March 2025, the Group draws the attention of shareholders to the appointment of Jon Yorke as the Advocate to consider and respond to views of retail investors and report on those matters to the Court. Those who held shares between 7 October 2005 and 5 October 2021 and think they may have a claim that is affected by the Restructuring Plan, are encouraged to contact Mr Yorke, without charge, by emailing ia@pl-plan.co.uk. Doing so will not affect your legal rights.


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