Director/PDMR Shareholding

RNS Number : 3447F

Tullow Oil PLC

19 February 2015

 

Tullow Oil plc

19 February 2015

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

Director/PDMR Notification

Awards of Shares under the Tullow Incentive Plan

The Company announces that on 18 February 2015 each of the following executive directors were granted nil exercise price options over the number of ordinary shares of 10p each set out below under the terms of the Tullow Incentive Plan:

Director	Number of Tullow Incentive Plan Shares awarded 18 February   2015	Number of Tullow Incentive Plan Shares awarded 19 February   2014	Cumulative number of Tullow Incentive Plan Shares   outstanding
Aidan Heavey	152,772	102,992	255,764
Graham Martin	86,398	58,246	144,644
Angus McCoss	86,398	58,246	144,644
Paul McDade	86,398	58,246	144,644
Ian Springett	91,737	61,845	153,582

No consideration was paid for any of the awards and no consideration is due on vesting.

The awards granted on 18 February 2015 will normally vest on 18 February 2019 as to 50% of the shares subject to each award and 18 February 2020 as to the remaining 50% of the shares. The awards will normally remain exercisable, subject to continued employment, for a period of six years from the date of vesting in respect of those awards that vest on 18 February 2018 and five years in the case of the awards that vest on 18 February 2020.

The awards granted on 19 February 2014 will normally vest on 19 February 2017 as to 50% of the shares subject to each award and 19 February 2018 as to the remaining 50% of the shares. The awards will normally remain exercisable, subject to continued employment, for a period of seven years from the date of vesting in respect of those awards that vest on 19 February 2017 and six years in the case of the awards that vest on 19 February 2018.

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

Enquiries

George Cazenove

Tullow Oil plc

+ 44 203 249 9000

 

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