Director/PDMR Shareholding

RNS Number : 7684V

Cairn Energy PLC

10 April 2019

 

FOR IMMEDIATE RELEASE                                                                                                  10 April 2019

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 10 April 2019, 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	2,195
James Smith, Chief Financial Officer	2,195
Eric Hathon, Director of Exploration	2,195
Paul Mayland, Chief Operating Officer	2,195
Brita Holstad, Regional Director, UK & Norway*	0
Richard Ember, Regional Director, International	2,195
Miles Warner, General Manager, Senegal*	0
Douglas Taylor, Deputy Finance Director	2,195
David Nisbet, Director, Corporate Affairs	2,195

*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 £1.64, being the mid-market price of a Cairn share as at close of business on 9 April 2019. 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 and 2017 LTIPs
				Unvested Awards still subject to performance conditions	Vested but unexercised Awards*
Simon Thomson	1,340,358	1,342,553	0.228	2,172,120	0
James Smith	545,080	547,275	0.093	1,412,759	0
Eric Hathon	31,759	33,954	0.006	1,163,771	0
Paul Mayland	522,149	524,344	0.089	1,214,590	134,880
Brita Holstad	188,549	188,549	0.032	574,017	0
Richard Ember	49,402	51,597	0.009	500,280	69,932
Miles Warner	15,000	15,000	0.003	528,715	0
Douglas Taylor	238,589	240,784	0.041	450,144	0
David Nisbet	107,059	109,254	0.019	585,187	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 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	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 2,195
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	2019-04-10
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 2,195
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	2019-04-10
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Eric Hathon
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 2,195
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	2019-04-10
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 2,195
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	2019-04-10
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 2,195
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	2019-04-10
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 2,195
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	2019-04-10
f)	Place of the transaction	London Stock Exchange

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	Free shares awarded under the Company's all-employee Share Incentive Plan (2010)
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 2,195
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	2019-04-10
f)	Place of the transaction	London Stock Exchange

 

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