Interests of Executive Direct

RNS Number : 8233N

Cairn Energy PLC

17 June 2010

 



FOR IMMEDIATE RELEASE                                                                                                 17 June 2010

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

Interests of Executive Directors in the Company's Shares

Cairn announces that, on 16 June 2010, Sir Bill Gammell, Chief Executive, and Malcolm Thoms, Chief Operating Officer, sold a total of 1,735,899 shares at a price of £4.2498 per share. Sir Bill Gammell also gifted 251,036 shares to a charitable trust on 16 June 2010.

On 17 June 2010, the above two directors' spouses purchased a total of 1,541,299 shares and Dr Mike Watts, Deputy Chief Executive, purchased 23,409 shares.  All of these purchases were made at a price of £4.2825 per share.

Details of the above transactions are as follows:-

Director	Number of Ordinary Shares Sold on 16 June	Number of Ordinary Shares Purchased on 17 June
Sir Bill Gammell	1,469,600	1,275,000
Dr Mike Watts	NIL	23,409
Malcolm Thoms	266,299	266,299

Following this announcement, the beneficial interests of these executive directors in the Ordinary Shares of the Company are as follows:-

Director	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	3,211,526	2,765,890	0.198	223,600	226,454	546,291	1,095,800
Dr Mike Watts	2,419,971	2,443,380	0.175	81,520	82,561	597,507	852,000
Malcolm Thoms	501,141	501,141	0.036	139,750	212,300	341,432	589,700

* 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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