Director/PDMR Shareholding

RNS Number : 5210M

Cairn Energy PLC

25 May 2010

 



FOR IMMEDIATE RELEASE                                                                                                                                            25 May 2010

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

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

in the Company's Shares

1.             Award of Free Shares under the Company's 2010 Share Incentive Plan

Cairn announces that, on 24 May 2010, awards of up to £3,000 worth of ordinary shares of ⁸/₁₃ pence each in the Company ("Ordinary Shares") were made to eligible employees under the "Free Share" element of the Company's recently established HMRC approved all-employee Share Incentive Plan (the "SIP").  No consideration was paid for the grant of these awards. 

Details of the Executive Directors and PDMR who participated in the award are as follows:-

Director / PDMR	Number of Free Shares Awarded
Sir Bill Gammell, Chief Executive	790
Dr Mike Watts, Deputy Chief Executive	790
Malcolm Thoms, Chief Operating Officer	790
Phil Tracy, Engineering & Operations Director	790
Jann Brown, Finance Director	790
Simon Thomson, Legal & Commercial Director	790
Richard Heaton, Exploration Director	790

The above awards were based on an Ordinary Share price of £3.7965.

The Ordinary Shares awarded to participants in the SIP were purchased in the market by the trustee of the SIP trust (the "Trustee").  In accordance with the rules of the SIP, the Trustee will normally hold these Ordinary Shares on behalf of the relevant individuals throughout a holding period of five years from the date of award.

2.             Summary of current holdings of Executive Directors / PDMR

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

Director / PDMR	Previous Ordinary Shares	Current Ordinary Shares	% Issued Share Capital	Outstanding Awards under the 2006 LTIP		Outstanding Awards under Replacement LTIP	Outstanding Awards under 2009 LTIP
				Cairn India Units	Ordinary Shares (subject to holding period) *	Ordinary Shares	Ordinary Shares
Sir Bill Gammell	3,210,736	3,211,526	0.229	223,600	226,454	546,291	1,095,800
Dr Mike Watts	2,419,181	2,419,971	0.173	81,520	82,561	597,507	852,000
Malcolm Thoms	500,351	501,141	0.036	139,750	212,300	341,432	589,700
Phil Tracy	468,104	468,894	0.033	139,750	141,534	341,432	589,700
Jann Brown	396,196	396,986	0.028	116,460	117,945	284,527	744,100
Simon Thomson	598,129	598,919	0.043	58,230	58,972	426,790	702,000
Richard Heaton	785,129	785,919	0.056	0	58,972	569,054	489,800

* Under the 2006 LTIP, any Ordinary Shares not released immediately on vesting are not beneficially owned by the participant until the expiry of the one year holding period. As a result, these Ordinary Shares have not been included in the previous or current Ordinary Shares figures in the above table.

 

END

 

 

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