Interests of Directors/PDMRs

RNS Number : 0052T

Cairn Energy PLC

29 May 2009

 



FOR IMMEDIATE RELEASE

29 May 2009

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

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

in the Company's Shares

Release of Shares under the Company's Long Term Incentive Plan (2002)

Awards under the Company's Long Term Incentive Plan (2009) ('the 2009 LTIP')

Cairn announces that on 28 May 2009 it was notified by the Trustee of the Company's Employees' Share Trust ('the Trust') that a total of 81,104 Ordinary Shares were released by the Trust on 28 May 2009 to the Executive Directors and a PDMR of the Company under the Company's Long Term Incentive Plan 2002.  The shares were released following the expiry of the one year withholding period in respect of the awards made on 20/28 April 2005 (for which there was a three year performance period).

Details of the shares released from the Trust are as follows:-

Director/PDMR	Number of Shares released following the expiry of withholding period
Sir Bill Gammell, Chief Executive	19,616
Dr Mike Watts, Deputy Chief Executive	13,383
Malcolm Thoms, Chief Operating Officer	12,246
Phil Tracy, Engineering & Operations Director	11,550
Jann Brown, Finance Director	8,103
Simon Thomson, Legal & Commercial Director	8,103
Richard Heaton, Head of Exploration	8,103

Share Dealings

Cairn also announces that it has received notifications of the following dealings in the Company's shares by Directors / a PDMR:-

On 28 May 2009 the following Directors / PDMR sold a total of 56,483 Ordinary Shares at £24.28 per Share:-

Director/PDMR	Number of Shares Sold
Sir Bill Gammell	19,616
Dr Mike Watts	5,488
Malcolm Thoms	5,000
Phil Tracy	11,550
Jann Brown	3,323
Simon Thomson	8,103
Richard Heaton	3,403

Cairn also announces that the following awards were made today under the 2009 LTIP to Directors / a PDMR of the Company:-

Director/PDMR	Number of Cairn Shares
Sir Bill Gammell	67,400
Dr Mike Watts	65,500
Malcolm Thoms	42,100
Phil Tracy	42,100
Jann Brown	49,100
Simon Thomson	49,100
Richard Heaton	35,100

All Cairn Shares were awarded at £24.56 per Share (the mid-market price of a Cairn share as at close of business on 28 May 2009).

Each of the awards will ordinarily vest on or around the third anniversary of grant, but only to the extent that specified performance conditions are satisfied over a period of three years from the date of award.     

Following this announcement, the Directors' / PDMR's beneficial interests in the Ordinary Shares of the Company are as follows:-

Director/PDMR	Previous  Share- holding	New  Share-holding	% Issued Share Capital	Outstanding Awards Under 2006 LTIP		Outstanding Awards Under 2009 LTIP
				Cairn India Units	Capricorn Units	Cairn Energy PLC Shares
Sir Bill Gammell	421,732	402,116	0.0029	738,718	1,411,481	67,400
Dr Mike Watts	193,383	187,895	0.0014	269,323	1,543,808	65,500
Malcolm Thoms	53,869	48,869	0.0003	622,673	601,802	42,100
Phil Tracy	11,550	0	0	461,699	882,176	42,100
Jann Brown	41,434	38,111	0.0003	384,751	735,147	49,100
Simon Thomson	9,403	1,300	0.00001	192,375	1,102,720	49,100
Richard Heaton	63,403	60,000	0.0004	134,145	1,236,649	35,100

 

END

 

 

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