Director/PDMR Shareholding

RNS Number : 4016G

Cairn Energy PLC

06 May 2014

 

FOR IMMEDIATE RELEASE                                                                                                    6 May 2014

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 2014, 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 £1.851 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 2014, awards of further Ordinary Shares were made to the above participants 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	810	1620	2430
Dr Mike Watts, Deputy Chief Executive1	0	0	0
Jann Brown, Managing Director & Chief Financial Officer1	0	0	0
Richard Heaton, Exploration Director & Head of New Ventures	810	1620	2430
Paul Mayland, Chief Operating Officer	810	1620	2430
Phil Dolan, Director of Operations	810	1620	2430
Douglas Taylor, Deputy Finance Director	810	1620	2430
Ian Watt, Regional Director (North Atlantic & Mediterranean)2	0	0	0
Rob JE Jones, Regional Director (North Africa)	810	1620	2430
Brita Holstad, Regional Director (UK & Norway)3	0	0	0

¹Mike Watts and Jann Brown have elected not to purchase partnership shares at this time as they will be standing down as directors with effect from the conclusion of the Company's AGM on 15 May 2014.

² Ian Watt does not participate in the partnership shares element of the SIP.

³ Brita Holstad does not participate in the SIP as she is not a UK resident tax payer.

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 current Executive Directors' / PDMRs' beneficial interests in the Ordinary Shares of the Company are as follows:-

Executive Director / PDMR	Ordinary Shares	% Issued Share Capital	Outstanding Awards under 2009 LTIP
Simon Thomson	457,567	0.079%	2,364,301
Dr Mike Watts	1,232,686	0.214%	2,195,476
Jann Brown	313,829	0.054%	1,998,484
Richard Heaton	604,321	0.105%	1,039,674
Paul Mayland	17,086	0.003%	1,122,091
Phil Dolan	29,860	0.005%	758,869
Douglas Taylor	44,327	0.008%	471,481
Ian Watt	34,529	0.006%	605,080
Rob J E Jones	143,466	0.025%	563,576
Brita Holstad	0	0	275,761

 

END

 

 

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