Director/PDMR Shareholding

Cairn Energy PLC 18 May 2007 FOR IMMEDIATE RELEASE 18 May 2007 CAIRN ENERGY PLC ('Cairn' or 'the Company') Interests of Directors/Persons Discharging Managerial Responsibility ('PDMRs') in the Company's Shares Cairn announces that it has today been notified by the Trustee of the Company's Employees' Share Trust ('the Trust') that a total of 444,021 Ordinary Shares were released by the Trust on 17 May 2007 to the Executive Directors and certain PDMRs of the Company under the Company's Long Term Incentive Plan 2002 ('2002 LTIP'). The shares comprise (i) 46,800 of the 93,600 Ordinary Shares which vested on 28 March 2007 and (ii) 397,221 Ordinary Shares which were released to certain Executive Directors/PDMRs following the expiry of the one year withholding period in respect of previous LTIP awards. Details of the shares released from the Trust are as follows:- Director/PDMR Shares released pursuant Shares released pursuant Total to vesting on 28 March to expiry of withholding shares 2007 period released Sir Bill Gammell, 12,600 96,888 Chief Executive 109,488 Dr Mike Watts, 7,600 80,888 88,488 Exploration Director Malcolm Thoms, 7,600 72,388 79,988 Chief Operating Officer Phil Tracy, 6,400 61,519 67,919 Engineering & Operations Director Jann Brown, 4,200 36,519 40,719 Finance Director Simon Thomson, 4,200 36,519 40,719 Legal & Commercial Director Richard Heaton, 4,200 12,500 16,700 Head of Exploration Following the release of shares from the Trust, the Executive Directors/PDMRs sold a total of 405,312 shares (327,374 of the shares released from the Trust and 77,938 shares from personal shareholdings) at a price of £17.5333 per share on 18 May 2007. Details of the share sales and the resulting effect on the Executive Directors'/PDMRs' shareholdings are set out below:- Previous Shareholding Shares Sold* New Shareholding Director/PDMR Sir Bill Gammell 697,426 187,426 **500,000 Dr Mike Watts 274,115 74,115 200,000 Malcolm Thoms 89,252 51,652 37,600 Phil Tracy 74,319 27,919 46,400 Jann Brown 48,981 16,781 32,200 Simon Thomson 47,356 40,719 6,637 Richard Heaton 74,618 6,700 67,918 * includes (i) 77,938 shares sold by Sir Bill Gammell in addition to the shares being released to him from the Trust and (ii) shares sold to cover income tax and national insurance liabilities. ** a further 10,000 shares were gifted to charity by Sir Bill Gammell on 18 May 2007. This is reflected in his new shareholding. Cairn also announces that Hamish Grossart, non-executive Deputy Chairman, sold 27,500 shares on 18 May 2007 at a price of £17.5333 per share. Following this announcement the relevant Directors'/PDMRs' beneficial interests in the Ordinary Shares of the Company are as follows:- Director/ Number of % Issued Outstanding Awards Outstanding Awards PDMR Ordinary Share Capital under 2002 LTIP Under 2006 LTIP Shares Tier One Tier Two Cairn Capricorn India Units Units Sir Bill Gammell 500,000 0.383 83,500 97,800 515,118 897,196 Dr Mike 200,000 0.153 58,300 89,000 187,803 981,308 Watts Malcolm 37,600 0.029 52,100 78,000 482,923 280,374 Thoms Phil 46,400 0.036 50,200 59,500 321,949 560,748 Tracy Jann 32,200 0.025 33,900 31,300 268,291 467,290 Brown Simon 6,637 0.005 34,600 32,900 134,145 700,935 Thomson Richard 67,918 0.052 33,900 37,800 134,145 700,935 Heaton Hamish 5,000 0.004 - - - - Grossart This information is provided by RNS The company news service from the London Stock Exchange
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