Director/PDMR Shareholding

RNS Number : 9119O

Cairn Energy PLC

06 July 2010

 



FOR IMMEDIATE RELEASE                                                                                                    6 July 2010

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

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

in the Company's Shares

1.         Purchase of Partnership Shares / Award of Matching Shares under the Company's 2010 Share Incentive Plan (the "SIP")

Cairn announces that, on 6 July 2010, the trustee (the "Trustee") of the Company's recently established HMRC approved all-employee SIP purchased ordinary shares of ⁸/₁₃ pence each in the Company ("Ordinary Shares") in the market at a price of £4.3055 per Ordinary Share on behalf of participants in the "Partnership Share" element of the SIP using deductions made from their gross salary.

Cairn also announces that, on 6 July 2010, awards of further Ordinary Shares were made to the above participants under the "Matching Share" element of the SIP on the basis of two free Matching Shares for every one Partnership Share purchased. The Ordinary Shares used to satisfy these awards were previously purchased in the market by the Trustee.

Details of the Executive Directors and PDMR who participated in the purchase / award are as follows:

Director/PDMR	Number of Partnership Shares Purchased	Number of Matching Shares Awarded	Total Number of Shares Acquired
Sir Bill Gammell, Chief Executive	348	696	1,044
Dr Mike Watts, Deputy Chief Executive	348	696	1,044
Malcolm Thoms, Chief Operating Officer	348	696	1,044
Phil Tracy, Engineering & Operations Director	348	696	1,044
Jann Brown, Finance Director	348	696	1,044
Simon Thomson, Legal & Commercial Director	348	696	1,044
Richard Heaton, Exploration Director	348	696	1,044

In accordance with the rules of the SIP, Partnership and Matching Shares are initially held by the Trustee on the participants' behalf and, in the case of Matching Shares, must normally remain so held throughout a period of five years from the date of award. 

2.         Summary of Current Holdings of Directors / PDMR

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

Director / PDMR	Previous Ordinary Shares	Current Ordinary Shares	% Issued Share Capital	Outstanding Awards under the 2006 LTIP		Outstanding Awards under Replacement LTIP	Outstanding Awards under 2009 LTIP
				Cairn India Units	Ordinary Shares (subject to holding period) *	Ordinary Shares	Ordinary Shares
Sir Bill Gammell	2,765,891	2,766,935	0.198	223,600	226,454	546,291	1,095,800
Dr Mike Watts	2,443,380	2,444,424	0.175	81,520	82,561	597,507	852,000
Malcolm Thoms	501,141	502,185	0.036	139,750	212,300	341,432	589,700
Phil Tracy	468,894	469,938	0.033	139,750	141,534	341,432	589,700
Jann Brown	396,986	398,030	0.028	116,460	117,945	284,527	744,100
Simon Thomson	598,919	599,963	0.043	58,230	58,972	426,790	702,000
Richard Heaton	785,919	786,963	0.056	0	58,972	569,054	489,800

* Under the 2006 LTIP, any Ordinary Shares not released immediately on vesting are not beneficially owned by the participant until the expiry of the one year holding period. As a result, these Ordinary Shares have not been included in the previous or current Ordinary Shares figures in the above table.

 

END

 

 

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