- Petrofac said chief executive Ayman Asfari had informed the company that the UK High Court of Justice ruled that he was not served due process in connection with sanctions made against him by the Italian National Commission for Companies and the Stock Exchange.

The UK High Court order would be served on the Italian body, which would have seven days following service to apply to set aside or vary the judgement, Petrofac said.

Asfari continued to refute all of the charges made against him and was engaged in appeal proceedings in Italy, the company added.

"The board has supported Ayman in his defence from the outset and this decision confirms his assertion that due process was not followed," Petrofac chairman Rijnhard van Tets said.

"We hope that a swift conclusion will now be reached to prove that in no way did Ayman act improperly."

At 1:07pm: [LON:PFC] Petrofac Ltd share price was +2.7p at 570.1p

Story provided by