Director/PDMR Shareholding

RNS Number : 8257I

Cairn Energy PLC

21 June 2011

 



FOR IMMEDIATE RELEASE                                                                                                 21 June 2011

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

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

in the Company's Shares

1.         Award of Free Shares under the Company's 2010 Share Incentive Plan

Cairn announces that, on 20 June 2011, awards of up to £3,000 worth of ordinary shares of ⁸/₁₃ pence each in the Company ("Ordinary Shares") were made to eligible employees under the "Free Share" element of the Company's recently established HMRC approved all-employee Share Incentive Plan (the "SIP").  No consideration was paid for the grant of these awards. 

Details of the Executive Directors and PDMRs who participated in the award are as follows:-

Executive Director / PDMR	Number of Free Shares Awarded
Simon Thomson, Legal & Commercial Director (Chief Executive Officer designate)	750
Dr Mike Watts, Deputy Chief Executive Officer	750
Jann Brown, Finance Director (& Managing Director designate)	750
Richard Heaton, Exploration Director	750
Paul Mayland, Director - Planning & Business Development	750

The above awards were based on an Ordinary Share price of £4.00, being the mid-market price of a Cairn Share as at close of business on 17 June 2011.

The Ordinary Shares awarded to participants in the SIP were purchased in the market by the trustee of the SIP trust (the "Trustee").  In accordance with the rules of the SIP, the Trustee will normally hold these Ordinary Shares on behalf of the relevant individuals throughout a holding period of five years from the date of award.

2.         Summary of current holdings of Executive Directors / PDMR

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

Executive Director / PDMR	Previous Ordinary Shares	Current Ordinary Shares	% Issued Share Capital	Outstanding Awards under 2006 LTIP	Outstanding Awards under 2009 LTIP
				Cairn India Units	Ordinary Shares
Sir Bill Gammell	3,229,856	3,229,856	0.230	223,600	1,095,800
Dr Mike Watts	2,830,242	2,830,992	0.201	81,520	1,229,510
Malcolm Thoms	723,108	723,108	0.051	139,750	589,700
Phil Tracy	690,861	690,861	0.049	139,750	589,700
Jann Brown	639,645	640,395	0.046	116,460	1,069,540
Simon Thomson	875,851	876,601	0.062	58,230	1,027,440
Richard Heaton	1,154,459	1,155,209	0.082	0	642,525
Paul Mayland	9,395	10,145	0.001	0	232,791

 

END

 

 

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