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flag Petrofac's restructuring leaves shareholders with no value as it reorganizes to survive energy sector challenges.

flag Petrofac announced its financial restructuring will result in existing shareholders receiving no value, as the company works to stabilize operations amid ongoing challenges in the energy sector. flag The process, targeted for completion by November 30, includes debt restructuring, equity reallocation, and new funding, with a lock-up agreement expected soon. flag The company, which had its shares suspended in May, emphasized the plan aims to preserve operations and ensure project delivery despite financial pressures.

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