Petrofac Ltd (GB:PFC) has released an update.
Petrofac Ltd has announced a delay in publishing its 2023 annual results, now expected by May 31, 2024, leading to a temporary suspension of its share trading. The company is negotiating a financial restructuring proposal with creditors that could inject up to $300 million in credit and is managing immediate payment obligations to maintain liquidity. Petrofac is also reporting a potential loss in its E&C division and lower than anticipated EBIT for Asset Solutions, with overall financial performance aligning with previous updates.
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