I saw the pay rise figures and I look forward to a corresponding increase in dividend (not holding breathe).
The Times article reported
"Petrofac said that, in light of “the recent experience of shareholders and in view of current uncertainties”, Mr Asfari had requested that his $1.3 million annual bonus should not be paid in cash. Instead he will “receive the after-tax bonus proceeds in shares in the company in order to demonstrate his confidence in the future”.
The shares he acquired the other day (105750 qty)
were in lieu of a cash bonus. so the RNS of 26 March indicated.
"This purchase was made in accordance with the Company's 2018 Directors' Remuneration Report disclosure, whereby Mr Asfari has elected to receive the after-tax proceeds of his cash bonus in Shares, in order to demonstrate his confidence in the future of the Company."
As for the Times - it's a strange article to be released on April 2nd but I guess it was triggered by the notification that the AR was now on the PFC website.
I note another RNS today, indicating Cochrane and 6 NEDs announced share buys...not significant qtys on the part of the NEDs though.
https://www.londonstockexchange.com/exc ... 26033.html