Release of withheld LTIP shares

RNS Number : 3920W

Cairn Energy PLC

30 January 2012

 



FOR IMMEDIATE RELEASE                                                                                            30 January 2012

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

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

in the Company's Shares

1.         Release of Shares under the Company's Long Term Incentive Plan 2006 ("the 2006 LTIP")

Cairn announces that, on 30 January 2012, it was notified by the trustee ("the Trustee") of the Company's Employees' Share Trust ("the Trust") that a total of 106,645 Ordinary Shares had been released by the Trust earlier that day to the Executive Directors of the Company under the 2006 LTIP.  These shares were released following the termination of the withholding period in respect of awards with a performance period commencing on 7 May 2008 which had previously vested.

Details of the Ordinary Share released from the Trust are as follows:

Director/PDMR	Number of Ordinary Shares Released
Simon Thomson, Chief Executive	24,238
Dr Mike Watts, Deputy Chief Executive	33,932
Jann Brown, Managing Director and Chief Financial Officer	48,475

2.         Summary of Current Holdings of Executive Directors

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

Director / PDMR	Previous Ordinary Shares	Current Ordinary Shares	% Issued Share Capital	Outstanding Awards under 2009 LTIP
				Ordinary Shares
Simon Thomson	900,841	925,079	0.066	1,027,440
Dr Mike Watts	2,864,926	2,898,858	0.206	1,229,510
Jann Brown	665,873	714,348	0.051	1,069,540

 

END

 

 

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