Director/PDMR Shareholding

RNS Number : 5166U

Cairn Energy PLC

15 May 2008

 



FOR IMMEDIATE RELEASE

15 May 2008

CAIRN ENERGY PLC ('Cairn' or 'the Company')

Interests of Directors/Persons Discharging Managerial Responsibility ('PDMRs') 

in the Company's Shares

Vesting of Awards under the Company's Long Term Incentive Plan 2002 ('the 2002 LTIP')

Cairn announces that on 14 May 2008, a total of 162,206 Ordinary Shares of 6 2/13 pence each vested in favour of Executive Directors and a PDMR under the 2002 LTIP. Under the 2002 LTIP Rules, 50% of the shares are to be released by the Company's Employees' Share Trust to the Executive Directors/PDMR within 30 days of vesting. The balance of the shares is withheld by the Trust and released to the individuals after one year.  Details of the shares that vested are as follows:-

Director/PDMR	Shares Vesting on 14 May 2008
Sir Bill Gammell,     Chief Executive	39,232
Dr Mike Watts, Exploration Director	26,765
Malcolm Thoms, Chief Operating Officer	24,492
Phil Tracy, Engineering & Operations Director	23,099
Jann Brown, Finance Director	16,206
Simon Thomson, Legal & Commercial Director	16,206
Richard Heaton, Head of Exploration	16,206

  Following the release of the shares from the Trust, the Executive Directors / PDMR sold a total of 39,010 shares at a price of £33.6592 per share on 14 May 2008.  In addition, Simon Thomson, Legal & Commercial Director sold a further 2,437 shares on 14 May 2008 at a price of £33.6592 per share.  Details of the share sales and the resulting effect on the Executive Directors' / PDMR's shareholdings are set out below:-

	Previous Shareholding	Shares Sold	New Shareholding
Director / PDMR
Sir Bill Gammell	377,500	0	416,732
Dr Mike Watts	160,000	3,382	183,383
Malcolm Thoms	30,000	6,123	48,369
Phil Tracy	0	11,549	11,550
Jann Brown	30,478	6,550	40,134
Simon Thomson	2,437	10,540	8,103
Richard Heaton	49,200	3,303	62,103

Following this announcement, the Directors'/PDMR's beneficial interests in the Ordinary Shares of the Company are as follows:-

Director/PDMR	Number of Ordinary Shares	% Issued Share Capital	Number of Share Options	Outstanding Awards under 2002 LTIP		Outstanding Awards Under 2006 LTIP
				Tier One	Tier Two	Cairn India Units	Capricorn Units
Sir Bill Gammell	416,732	0.318	0	30,000	26,400	738,718	1,411,481
Dr Mike Watts	183,383	0.140	0	21,800	28,100	269,323	1,543,808
Malcolm Thoms	48,369	0.037	0	18,700	22,400	622,673	601,802
Phil Tracy	11,550	0.009	0	18,700	17,500	461,699	882,176
Jann Brown	40,134	0.031	0	11,800	9,600	384,751	735,147
Simon Thomson	8,103	0.006	0	12,500	11,200	192,375	1,102,720
Richard Heaton	62,103	0.047	0	11,800	4,600	134,145	1,236,649

 

END

 

 

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