Director/PDMR Shareholding

RNS Number : 5333X

Cairn Energy PLC

06 May 2016

 

FOR IMMEDIATE RELEASE                                                                                                    6 May 2016

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

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

in the Company's Shares

1.         Purchase of Partnership Shares / Award of Matching Shares under the Company's 2010 Share Incentive Plan (the "SIP")

Cairn announces that, on 6 May 2016, the trustee (the "Trustee") of the Company's HMRC approved all-employee SIP purchased ordinary shares of ²³¹/₁₆₉ pence each in the Company ("Ordinary Shares") in the market at a price of £2.0575 per Ordinary Share on behalf of participants in the "Partnership Share" element of the SIP using deductions made from their gross salary.

Cairn also announces that, on 6 May 2016, awards of further Ordinary Shares were made to the participants below under the "Matching Share" element of the SIP on the basis of two free Matching Shares for every one Partnership Share purchased. The Ordinary Shares used to satisfy these awards were previously purchased in the market by the Trustee.

Details of the Executive Directors and PDMRs who participated in the purchase / award are as follows:-

Director / PDMR	Number of Partnership Shares Purchased	Number of Matching Shares Awarded	Total Number of Shares Acquired
Simon Thomson, Chief Executive	875	1,750	2,625
James Smith, Chief Financial Officer	874	1,748	2,622
Richard Heaton, Director of Exploration	875	1,750	2,625
Paul Mayland, Chief Operating Officer	874	1,748	2,622

In accordance with the rules of the SIP, Partnership and Matching Shares are initially held by the Trustee on the participants' behalf and, in the case of Matching Shares, must normally remain so held throughout a period of five years from the date of award. 

2.         Summary of current holdings of Executive Directors / PDMRs

Following this announcement, the Executive Directors' and PDMRs' beneficial interests in the Shares of the Company 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	696,774	699,399	0.121	2,693,978	291,181
James Smith	64,615	67,237	0.012	1,752,180	0**
Richard Heaton	831,464	834,089	0.145	1,487,735	125,768
Paul Mayland	111,638	114,260	0.020	1,476,427	146,786
Douglas Taylor	83,236	83,236	0.014	547,346	60,638
Richard Ember	1,762	1,762	0.0003	433,615	0**
Brita Holstad	0	0	0	683,851	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.

**The Awards included within this column were originally made prior to the commencement of employment of James Smith, Brita Holstad, Richard Ember and Miles Warner.

 

END

 

 

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