Director/PDMR Shareholding

RNS Number : 7734G

Tullow Oil PLC

17 May 2011

 

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons

All relevant boxes should be completed in block capital letters

1	Name of the Issuer TULLOW OIL PLC	2	State whether the notification relates to (i) a transaction notified in accordance with DTR 3.1.2 R, (ii) a disclosure made in accordance with LR 9.8.6R(1) or (iii) a disclosure made in accordance with section 793 of the Companies Act (2006). (i)
3	Name of person discharging managerial responsibilities/director ANGUS MCCOSS	4	State whether notification realties to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person NO
5	Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest1 3 ABOVE	6	Description of shares (including class) debentures or derivatives or financial instruments relating to shares ORDINARY SHARES OF 10P EACH
7	Name or registered shareholder(s) and, if more than one, number of shares held by each of them 3 ABOVE	8	State the nature of the transaction EXERCISE OF AN AWARD GRANTED OVER 80,277 SHARES UNDER THE TULLOW OIL 2005 PERFORMANCE SHARE PLAN ('PSP') ON 15 MAY 2008 SALE OF  41,828 SHARES TO SATISFY THE TAX LIABILITY AND ASSOCIATED TRANSACTION COSTS PAYABLE AS A CONSEQUENCE OF THE EXERCISE OF THE AWARD PLEDGE OF 38,449 SHARES TO UBS PRIVATE BANKING AS  SECURITY FOR PERSONAL LOANS WITH ANGUS MCCOSS REMAINING AS BENEFICIAL OWNER
9	Number of shares, debentures or financial instruments relating to shares acquired 80,277	10	Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating  percentage) LESS THAN 0.01%
11	Number of shares, debentures or financial instruments relating to shares disposed 41,828	12	Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating  percentage) LESS THAN 0.01%
13	Price per share or value of transaction PSP AWARD EXERCISE PRICE PER SHARE - NIL SALE PRICE PER SHARE - £13.1013	14	Date and place of transaction 16 MAY 2011
15	Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage) 153,049 SHARES (0.017%) (INCLUDING 2,204  SHARES HELD UNDER THE TULLOW OIL UK SHARE INCENTIVE PLAN)	16	Date issuer informed of transaction 17 MAY 2011

If a person discharging managerial responsibilities has been granted options by the issuer, complete the following boxes:

17	Date of grant	18	Period during which or date on which exercised
19	Total amount paid (if any) for grant of the option	20	Description of shares or debentures involved (class and number)
21	Exercise price (if fixed at time of grant) or indication that the price is to be fixed at the time of exercise	22	Total number of shares or debentures over which options are held following notification
23	Any additional information	24	Name of contact and telephone number for queries

Name and signature of authorised officer of issuer responsible for making notification …….RICHARD TAYLOR……. Date of notification 17 MAY 2011

Notes: This form is intended for use by an issuer to make a RIS notification required by DTR 3.1.4.

(1) An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.

(2) An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24.

(3) An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.

(4) An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.

 

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