Director/PDMR Shareholding

RNS Number : 6014G

Tullow Oil PLC

13 May 2011

 



Tullow Oil plc

13 May 2011

                   Tullow Oil plc ('Tullow' or 'the Company')

Awards of Shares under the Company's 2005 Performance Share Plan

The Company announces that on 13 May 2011 each of the following executive directors were granted nil cost options over the number of ordinary shares of 10p each set out below under the terms of the Tullow Oil 2005 Performance Share Plan:

Director	Number of Performance Share Plan shares awarded 13 May 2011	Cumulative number of Performance Share  Plan shares  outstanding
Aidan Heavey	300,000	722,351
Graham Martin	175,000	413,859
Angus McCoss	175,000	413,859
Paul McDade	175,000	413,859
Ian Springett	175,000	412,260

The awards granted on 13 May 2011 will normally vest on 13 May 2014 subject to continued employment and the satisfaction of performance conditions. The figures reflect the maximum number of shares that might vest in three years time - the actual number vesting will depend on the extent to which the performance conditions are satisfied over the three year performance period. The options will remain exercisable subject to continued employment for a period of 7 years from the date of vesting. No consideration was paid for any of the awards and no consideration is due on vesting.

This notification is made in accordance with DTR 3.1.4R (1)(a).

Enquiries

Graham Martin

Tullow Oil plc

+ 44 203 249 9000

 

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