Director/PDMR Shareholding

RNS Number : 4670C

Cairn Energy PLC

13 April 2017

 

FOR IMMEDIATE RELEASE                                                                                                  13 April 2017

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 13 April 2017, it made its annual awards of up to £3,600 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	1,717
James Smith, Chief Financial Officer	1,717
Richard Heaton, Director of Exploration	1,717
Paul Mayland, Chief Operating Officer	1,717
Douglas Taylor, Deputy Finance Director	1,717
Richard Ember, Regional Director, International	1,717
Brita Holstad, Regional Director (UK & Norway)*	0
Miles Warner, General Manager, Senegal*	0

*Ms Holstad and Mr Warner do not participate in the SIP as they are not UK resident tax payers.

The above awards were based on an Ordinary Share price of £2.096, being the mid-market price of a Cairn share as at close of business on 12 April 2017. The Ordinary Shares awarded to participants in the SIP were existing shares previously purchased in the market.  In accordance with the rules of the SIP, its 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 Executive Directors' and PDMRs' beneficial interests in the Shares of the Company are as follows:

Executive Director / PDMR	Previous Shares	Current Shares	% Issued Share Capital	Outstanding entitlements under 2009 LTIP
				Unvested Awards still subject to performance conditions	Vested but unexercised Awards*
Simon Thomson	1,009,023	1,010,740	0.173	1,734,184	435,822
James Smith	217,204	218,921	0.038	1,127,924	283,461
Richard Heaton	996,954	998,671	0.171	1,086,755	182,076
Paul Mayland	317,085	318,802	0.055	955,396	236,589
Douglas Taylor	162,160	163,877	0.028	352,341	88,548
Brita Holstad	0	0	0	408,090	250,434
Richard Ember	4,567	6,284	0.001	433,615	0**
Miles Warner	0	0	0	206,111	0**

* 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 2009 LTIP.

**The Awards included within this column for other individuals were originally made prior to the commencement of employment of Richard Ember and Miles Warner.

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	Simon Thomson
2	Reason for the notification
a)	Position/status	Chief Executive
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	Free shares awarded under the Company's all-employee Share Incentive Plan (2010)
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 1,717
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	13 April 2017
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	James Smith
2	Reason for the notification
a)	Position/status	Chief Financial Officer
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	Free shares awarded under the Company's all-employee Share Incentive Plan (2010)
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 1,717
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	13 April 2017
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Richard Heaton
2	Reason for the notification
a)	Position/status	Director of Exploration
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	Free shares awarded under the Company's all-employee Share Incentive Plan (2010)
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 1,717
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	13 April 2017
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Paul Mayland
2	Reason for the notification
a)	Position/status	Chief Operating Officer
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	Free shares awarded under the Company's all-employee Share Incentive Plan (2010)
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 1,717
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	13 April 2017
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Douglas Taylor
2	Reason for the notification
a)	Position/status	Deputy Finance Director
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	Free shares awarded under the Company's all-employee Share Incentive Plan (2010).
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 1,717
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	13 April 2017
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Richard Ember
2	Reason for the notification
a)	Position/status	Regional Director, International
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	Free shares awarded under the Company's all-employee Share Incentive Plan (2010)
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 1,717
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	13 April 2017
f)	Place of the transaction	London Stock Exchange

 

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