Director/PDMR Shareholding

RNS Number : 6219J

Cairn Energy PLC

08 April 2015

 



FOR IMMEDIATE RELEASE                                                                                                   8 April 2015

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

Interests of 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 8 April 2015, it made its annual awards of up to £3,600 worth of ordinary shares of ²³¹/₁₆₉ pence each in the Company ("Ordinary Shares") to eligible employees under the "Free Share" element of the Company's HMRC approved all-employee Share Incentive Plan established in April 2010 (the "SIP").  No consideration was paid for the grant of these awards. 

Details of the Executive Directors and PDMRs who participated in the award, having complied with the eligibility criteria in terms of the rules of the SIP, are as follows:-

Executive Director / PDMR	Number of Free Shares Awarded
Simon Thomson, Chief Executive	2,117
James Smith, Chief Financial Officer	2,117
Richard Heaton, Director of Exploration	2,117
Paul Mayland, Chief Operating Officer	2,117
Phil Dolan, Director of Operations	2,117
Douglas Taylor, Deputy Finance Director	2,117
Rob J E Jones, Regional Director (Africa)	2,117
Brita Holstad, Regional Director (UK & Norway)*	0

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

The above awards were based on an Ordinary Share price of £1.70, being the mid-market price of a Cairn share as at close of business on 7 April 2015. 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 / 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	509,684	0.088	2,916,051
James Smith	59,901	0.010	1,194,785
Richard Heaton	706,438	0.123	1,436,654
Paul Mayland	19,203	0.003	1,486,700
Phil Dolan	31,977	0.006	647,290
Douglas Taylor	46,444	0.008	605,072
Rob J E Jones	145,583	0.025	750,497
Brita Holstad	0	0	481,073

 

END

 

 

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