Director/PDMR Shareholding

RNS Number : 2157S

Cairn Energy PLC

16 March 2016

 

EMBARGOED FOR RELEASE AT 0900                                                                               16 March 2016

CAIRN ENERGY PLC ("Cairn" or "the Company")

Interests of Directors / Persons Discharging Managerial Responsibility ("PDMRs")

in the Company's Shares

1.         2016 Awards under the Company's Long Term Incentive Plan (2009) ("the 2009 LTIP")

Cairn announces that the following Awards over its ordinary shares of ²³¹/₁₆₉ pence each ("Shares") were made today under the 2009 LTIP to the undernoted Executive Directors and PDMRs of the Company:-

Executive Director / PDMR	Number of Shares
Simon Thomson, Chief Executive	856,994
James Smith, Chief Financial Officer	557,395
Richard Heaton, Director of Exploration	537,050
Paul Mayland, Chief Operating Officer	479,208
Douglas Taylor, Deputy Finance Director	174,119
Brita Holstad, Regional Director, UK & Norway	202,778
Richard Ember, Regional Director, International	193,512
Miles Warner, General Manager, Senegal	206,111

All Shares were awarded at £1.9407 per Share, being the average mid-market closing price of a Share over the three dealing days immediately preceding the award date. The vesting of the Awards depends upon the extent to which performance conditions are met over a three year performance period.

2.         Summary of current holdings of Executive Directors / PDMRs

Following this announcement, the Executive Directors' and PDMRs' beneficial interests in the Company's Shares are as follows:

Executive Director / PDMR	Previous Shares	Current Shares	% Issued Share Capital	Outstanding entitlements under 2009 LTIP
				Unvested Awards still subject to performance conditions	Vested but unexercised Awards*
Simon Thomson	572,783	572,783	0.100	3,259,710	60,148
James Smith	62,853	62,853	0.011	1,752,180	0
Richard Heaton	778,637	778,637	0.135	1,724,085	29,248
Paul Mayland	43,523	43,523	0.008	1,783,539	21,368
Douglas Taylor	56,641	56,641	0.010	662,288	13,698
Brita Holstad	0	0	0	683,851	0
Richard Ember	0	0	0	433,615	0
Miles Warner	0	0	0	206,111	0

* This column includes all outstanding Awards that have vested following the expiry of the applicable performance period, regardless of whether or not they are currently capable of being exercised under the rules of the 2009 LTIP.

 

END

 

 

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