Director/PDMR Shareholding

RNS Number : 6890E

Tullow Oil PLC

11 February 2015

 



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

Director Dealings

Tullow announces that the following dealings in ordinary shares of £0.10 each in the capital of Tullow ('Shares') were undertaken by a director on the London Stock Exchange on 11 February 2015.

Performance Share Plan and Deferred Share Bonus Plan

Angus McCoss (Chief Exploration Officer) exercised 'nil cost' options over a total of 25,819 granted to him in 2012 pursuant to terms of the Tullow Oil Deferred Share Bonus Plan 2005 ('DSBP').  On the same date, Mr McCoss sold 12,166 Shares at £3.84724 per Share to discharge tax obligations arising on exercise of his options. The balance of 13,653 Shares retained by Mr McCoss will be pledged to UBS Private Banking as security for certain personal loans.  Notwithstanding the pledging of such Shares, he remains the beneficial owner of such Shares.  

Following these transactions, the number of Shares held by Angus McCoss increased as shown in the second table below.

Full details of the options exercised, the Shares sold and retained and the resultant shareholding of Mr McCoss are disclosed in the tables below.    

Options exercised 

Director	Plan	Grant date	No. of Shares over which options granted	No. of Shares vested	No. of Shares over which option exercised	Exercise price
Angus McCoss	DSBP	21/03/2012	25,819	25,819	25,819	N/A

Shares sold/retained

Director	Holdings of Shares prior to 11 February 2015	Total Shares acquired on exercise of options	Shares sold	Shares retained	Holdings of Shares following this notification
Angus McCoss	247,425	25,819	12,166	13,653	261,078

Notes:

1.        In addition to the above holding, Angus McCoss holds a total of 3,464 Shares under the terms of the Tullow Oil UK Share Incentive Plan comprising 795 partnership shares, 795 matching shares and 1,874 unrestricted shares.  

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

The Company was informed by the Directors listed above of the above transactions on 11 February 2015.

Enquiries:

George Cazenove / Kevin Massie

Tullow Oil plc

+ 44 203 249 9000

 

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