Director/PDMR Shareholding

RNS Number : 5386H

Cairn Energy PLC

08 June 2017

 

FOR IMMEDIATE RELEASE                                                                                                   8 June 2017

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

Interests of Person Discharging Managerial Responsibility ("PDMR")

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 7 June 2017, the trustee (the "Trustee") of the Company's HMRC approved all-employee SIP purchased ordinary shares of 231/169 pence each in the Company ("Ordinary Shares") in the market at a price of £1.96385 per Ordinary Share on behalf of the below participant in the "Partnership Share" element of the SIP using a deduction made from his gross salary.

Cairn also announces that, on 7 June 2017, an award of further Ordinary Shares was made to the participant below 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 this award were existing shares previously purchased in the market.

Details of the PDMR who participated in the purchase / award are as follows:-

PDMR	Number of Partnership Shares Purchased	Number of Matching Shares Awarded	Total Number of Shares Acquired
David Nisbet, Director, Corporate Affairs	77	154	231

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 PDMR

Following this announcement, David Nisbet's beneficial interest in the Shares of the Company is as follows:

PDMR	Previous Shares	Current Shares	% Issued Share Capital	Outstanding entitlements under 2009 and 2017 LTIP
				Unvested Awards still subject to performance conditions	Vested but unexercised Awards**
David Nisbet*	23,439	23,670	0.004	573,782	273,304

* David Nisbet is an existing employee of the Company who has recently been designated as a PDMR.

** This column includes all outstanding Awards that have vested following the expiry of the applicable performance period, regardless of whether or not they are currently capable of being exercised under the rules of the applicable LTIP.

The following notifications are intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	David Nisbet
2	Reason for the notification
a)	Position/status	Director, Corporate Affairs
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cairn Energy PLC
b)	LEI	213800ZJEUQ8ZOC9AL24
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 231/169 pence each ("Shares")
	Identification code	GB00B74CDH82
b)	Nature of the transaction	Partnership shares purchased under the Company's all-employee Share Incentive Plan (2010).
c)	Price(s) and volume(s)	Price(s) Volume(s) £1.96385 77
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	2017-06-07
f)	Place of the transaction	London Stock Exchange
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 231/169 pence each ("Shares")
	Identification code	GB00B74CDH82
b)	Nature of the transaction	Matching shares awarded under the Company's all-employee Share Incentive Plan (2010) on the basis of two free matching shares for every one partnership share purchased.
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 154
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	2017-06-07
f)	Place of the transaction	London Stock Exchange

 

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