Director/PDMR Shareholding

RNS Number : 3385E

Cairn Energy PLC

08 April 2014

 

FOR IMMEDIATE RELEASE                                                                                                   8 April 2014

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

Interests of 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 8 April 2014, it made its annual awards of up to £3,000 worth of ordinary shares of ²³¹/₁₆₉ pence each in the Company ("Ordinary Shares") to eligible employees under the "Free Share" element of the Company's HMRC approved all-employee Share Incentive Plan established in April 2010 (the "SIP").  No consideration was paid for the grant of these awards. 

Details of the Executive Directors and PDMRs who participated in the award, having complied with the eligibility criteria in terms of the rules of the SIP, are as follows:-

Executive Director / PDMR	Number of Free Shares Awarded
Simon Thomson, Chief Executive	1789
Dr Mike Watts, Deputy Chief Executive	1789
Jann Brown, Managing Director & Chief Financial Officer	1789
Richard Heaton, Exploration Director & Head of New Ventures	1789
Paul Mayland, Chief Operating Officer	1789
Phil Dolan, Director of Operations	1789
Douglas Taylor, Deputy Finance Director	1789
Ian Watt, Regional Director (North Atlantic & Mediterranean)	1789
Rob J E Jones, Regional Director (North Africa)	1789
Brita Holstad, Regional Director (UK & Norway)*	0

*Ms Holstad does not participate in the SIP as she is not a UK resident tax payer.

The above awards were based on an Ordinary Share price of £1.676, being the mid-market price of a Cairn share as at close of business on 7 April 2014.

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 / PDMRs

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

Executive Director / PDMR	Ordinary Shares	% Issued Share Capital	Outstanding Awards under 2009 LTIP
Simon Thomson	455,137	0.079%	2,364,301
Dr Mike Watts	1,232,686	0.214%	2,195,476
Jann Brown	313,829	0.054%	1,998,484
Richard Heaton	601,891	0.104%	1,039,674
Paul Mayland	14,656	0.003%	1,122,091
Phil Dolan	27,430	0.005%	758,869
Douglas Taylor	41,897	0.007%	471,481
Ian Watt	34,529	0.006%	605,080
Rob J E Jones	141,036	0.024%	563,576
Brita Holstad	0	0	275,761

 

END

 

 

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