Director/PDMR Shareholding

RNS Number : 0937P

Tullow Oil PLC

18 March 2009

 



Tullow Oil plc

18 March 2009

Tullow Oil plc ('Tullow' or 'the Company')

Director/PDMR Notification

Awards of Shares under the Company's 2005 Performance Share Plan

The Company announces that on 18 March 2009 each of the following executive directors were granted conditional awards over the number of ordinary shares of 10p each set out below under the terms of the Tullow Oil 2005 Performance Share Plan('Plan'). 

Director	Number of Conditional Shares Awarded 18 March 2009	Cumulative number of Conditional Shares outstanding under the Plan
Aidan Heavey	173,916	765,934
Graham Martin	98,355	438,159
Angus McCoss	98,355	369,401
Paul McDade	98,355	387,535
Ian Springett	104,438	173,311

The awards granted on 18 March 2009 will normally vest on 18 March 2012 subject to continued employment and the satisfaction of performance conditions. The figures reflect the maximum number of shares that might vest in three years time - the actual number vesting will depend on the extent to which the performance conditions are satisfied over the three year performance period. No consideration was paid for any of the awards and no consideration is due on vesting.

Awards of Shares under the Company's 2005 Deferred Share Bonus Plan

Under the Company's annual bonus arrangements, part of the annual performance related bonus of the executive directors of Tullow is satisfied by the award of shares under the Tullow Oil 2005 Deferred Share Bonus Plan ('Plan'). The Company announces in respect of the 2008 annual bonus that, on 18 March 2009, each of the following executive directors were granted awards over the number of ordinary shares of 10p each set out below under the terms of the Plan.

Director	Number of Deferred Share Bonus Plan shares awarded 18 March 2009	Cumulative number of Deferred Share Bonus Plan shares outstanding
Aidan Heavey	50,169	121,211
Graham Martin	28,374	69,521
Angus McCoss	28,374	43,060
Paul McDade	28,374	50,320

The awards granted on 18 March 2009 will normally vest on 1 January 2012 subject to continued employment. No consideration was paid for any of the awards and no consideration is due on vesting.

This notification is made in accordance with DTR 3.1.4R (1)(a).  

Enquiries

Graham Martin

Tullow Oil plc

+ 44 208 996 1000

 

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