Director/PDMR Shareholding

RNS Number : 0413J

Tullow Oil PLC

23 March 2010

 

23 March 2010

Tullow Oil plc ('the Company')

Director/PDMR Shareholding

On 22 March 2010, the conditional share awards made to executive directors in March 2007 under the Tullow Oil 2005 Performance Share Plan ('PSP') vested in full following the Company's exceptional TSR performance over the three year performance period. Details of these awards and related share sales are set out in the table below.  The sales of  shares on 22 March 2010 by Aidan Heavey (Chief Executive Officer), Graham Martin (General Counsel), Paul McDade (Chief Operating Officer) and Angus McCoss (Exploration Director) were made to meet tax liabilities on vesting.  

Name of Director	Holding of ordinary shares prior to 22 March 2010	PSP Shares Vested	Total Shares Sold	Holding of ordinary shares  following this notification
Aidan Heavey	6,265,666	230,567	94,722	6,401,511
Graham Martin	1,450,490	130,402	53,572	1,527,320
Paul McDade	207,458	90,539	37,196	260,801
Angus McCoss	59,053	90,539	37,196	112,396

The total number of shares sold resulting from the above transactions amounted to  222,686 shares, the shares being sold at 1227.05p.

This announcement is made in accordance with DR 3.1.4R (1) (a).

The Company was informed by the Directors listed above of the above transactions on 23 March 2010.

Enquiries

Richard Taylor

Tullow Oil plc

+ 44 208 996 1000

 

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