Director/PDMR Shareholding

RNS Number : 0128D

Tullow Oil PLC

09 May 2012

 

Tullow Oil plc

9 May 2012

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

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

The Company announces that on 9 May 2012 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 9 May 2012	Cumulative number of Performance Share  Plan shares  outstanding
Aidan Heavey	300,000	1,022,351
Graham Martin	175,000	588,859
Angus McCoss	175,000	508,582
Paul McDade	175,000	588,859
Ian Springett	175,000	587,260

The awards granted on 9 May 2012 will normally vest on 9 May 2015 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 awards 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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