Director/PDMR Shareholding

RNS Number : 1295K

Cairn Energy PLC

06 April 2018

 

FOR IMMEDIATE RELEASE                                                                                                   6 April 2018

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 6 April 2018, 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	1,665
James Smith, Chief Financial Officer	1,665
Eric Hathon, Director of Exploration	1,665
Paul Mayland, Chief Operating Officer	1,665
Brita Holstad, Regional Director, UK & Norway*	0
Richard Ember, Regional Director, International	1,665
Miles Warner, General Manager, Senegal*	0
Douglas Taylor, Deputy Finance Director	1,665
David Nisbet, Director, Corporate Affairs	1,665

*Ms Holstad and Mr Warner do not participate in the SIP as they are not UK resident tax payers.

The above awards were based on an Ordinary Share price of £2.162, being the mid-market price of a Cairn share as at close of business on 5 April 2018. The Ordinary Shares awarded to participants in the SIP were existing shares previously purchased in the market.  In accordance with the rules of the SIP, its 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 Executive Directors' and PDMRs' beneficial interests in the Shares of the Company are as follows:

Executive Director / PDMR	Previous Shares	Current Shares	% Issued Share Capital	Outstanding entitlements under 2009 and 2017 LTIPs
				Unvested Awards still subject to performance conditions	Vested but unexercised Awards*
Simon Thomson	1,175,589	1,177,254	0.200	2,169,181	248,464
James Smith	457,208	458,873	0.078	1,410,849	161,602
Eric Hathon	2,760	4,425	0.001	703,039	0**
Paul Mayland	518,153	519,818	0.088	1,212,947	134,880
Brita Holstad	157,783	157,783	0.027	555,042	58,155
Richard Ember	9,110	10,775	0.002	735,836	0**
Miles Warner	0	0	0	528,009	0**
Douglas Taylor	210,724	212,389	0.036	446,053	50,481
David Nisbet	81,275	82,940	0.014	551,575	57,423

* This column includes all outstanding Awards that have vested following the expiry of the applicable performance period, regardless of whether or not they are currently capable of being exercised under the rules of the applicable LTIP.

**The Awards included within this column for other individuals were originally made prior to the commencement of employment of Richard Ember, Miles Warner and Eric Hathon.

The following notifications are intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Simon Thomson
2	Reason for the notification
a)	Position/status	Chief Executive
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cairn Energy PLC
b)	LEI	213800ZJEUQ8ZOC9AL24
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 231/169 pence each ("Shares")
	Identification code	GB00B74CDH82
b)	Nature of the transaction	Free shares awarded under the Company's all-employee Share Incentive Plan (2010)
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 1,665
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	2018-04-06
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	James Smith
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cairn Energy PLC
b)	LEI	213800ZJEUQ8ZOC9AL24
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 231/169 pence each ("Shares")
	Identification code	GB00B74CDH82
b)	Nature of the transaction	Free shares awarded under the Company's all-employee Share Incentive Plan (2010)
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 1,665
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	2018-04-06
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Eric Hathon
2	Reason for the notification
a)	Position/status	Director of Exploration
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cairn Energy PLC
b)	LEI	213800ZJEUQ8ZOC9AL24
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 231/169 pence each ("Shares")
	Identification code	GB00B74CDH82
b)	Nature of the transaction	Free shares awarded under the Company's all-employee Share Incentive Plan (2010)
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 1,665
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	2018-04-06
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Paul Mayland
2	Reason for the notification
a)	Position/status	Chief Operating Officer
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cairn Energy PLC
b)	LEI	213800ZJEUQ8ZOC9AL24
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 231/169 pence each ("Shares")
	Identification code	GB00B74CDH82
b)	Nature of the transaction	Free shares awarded under the Company's all-employee Share Incentive Plan (2010)
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 1,665
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	2018-04-06
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Richard Ember
2	Reason for the notification
a)	Position/status	Regional Director, International
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cairn Energy PLC
b)	LEI	213800ZJEUQ8ZOC9AL24
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 231/169 pence each ("Shares")
	Identification code	GB00B74CDH82
b)	Nature of the transaction	Free shares awarded under the Company's all-employee Share Incentive Plan (2010).
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 1,665
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	2018-04-06
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Douglas Taylor
2	Reason for the notification
a)	Position/status	Deputy Finance Director
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cairn Energy PLC
b)	LEI	213800ZJEUQ8ZOC9AL24
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 231/169 pence each ("Shares")
	Identification code	GB00B74CDH82
b)	Nature of the transaction	Free shares awarded under the Company's all-employee Share Incentive Plan (2010)
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 1,665
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	2018-04-06
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	David Nisbet
2	Reason for the notification
a)	Position/status	Director, Corporate Affairs
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cairn Energy PLC
b)	LEI	213800ZJEUQ8ZOC9AL24
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 231/169 pence each ("Shares")
	Identification code	GB00B74CDH82
b)	Nature of the transaction	Free shares awarded under the Company's all-employee Share Incentive Plan (2010)
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 1,665
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	2018-04-06
f)	Place of the transaction	London Stock Exchange

 

END

 

 

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