Changes to Board of Directors
Cairn Energy PLC
01 November 2006
EMBARGOED FOR RELEASE AT 0700
1 November 2006
Cairn Energy PLC ('Cairn' or 'the Company')
Changes to Board of Directors
On 20 June 2006, Cairn announced that Kevin Hart had given notice of his
resignation as Finance Director of Cairn. The effective date of Kevin's
resignation will be 17 November 2006, following the Extraordinary General
Meeting to be held on that date in connection with the planned Initial Public
Offering of Cairn India.
As previously announced, Kevin will be succeeded as Finance Director by Jann
Brown, who is currently Group Financial Controller. Jann is 51 and has served on
the Group Management Board of the Company for seven years. She holds an MA from
the University of Edinburgh and joined Cairn in 1998 after a career in the
accountancy profession, mainly with KPMG. She is a member of The Institute of
Chartered Accountants of Scotland and The Chartered Institute of Taxation.
In addition, Cairn today announces its intention to appoint Simon Thomson as
Legal and Commercial Director, also with effect from 17 November 2006. Simon is
41 and joined Cairn in 1995 as a lawyer before transferring to the commercial
department, which he now heads. He is currently Group Commercial Manager and has
served on the Group Management Board of the Company for six years. Simon holds
an Honours Law Degree from Aberdeen University and a Diploma of Legal Practice
from Glasgow University.
Sir Bill Gammell, Chief Executive said:
' I am delighted with the new appointment of Simon Thomson as Legal and
Commercial Director. Simon has been a key member of the senior management team
for many years and is a well known and respected figure, both in the city and
the oil industry at large.'
Information required to be disclosed pursuant to the Listing Rules of the UK
Listing Authority:-
The beneficial interests in shares held by Jann Brown and Simon Thomson as at
the date of this announcement are as follows:-
Number of Percentage of Issued Number of Outstanding Awards
Ordinary Shares Share Capital Share Options under
Name Long Term Incentive
Plan
Tier One Tier Two
Jann 41,519 0.026 - 54,900 63,300
Brown
Simon 39,519 0.025 - 55,600 64,900
Thomson
There are no additional matters which require to be disclosed for the purposes
of Listing Rule 9.6.13 of the Listing Rules.
Enquiries to:
Analysts/Investors
Bill Gammell, Chief Executive Tel: 0131 475 3000
Kevin Hart, Finance Director
Mike Watts, Exploration Director
Media
David Nisbet, Head of Group Communications
Brunswick Group LLP
Patrick Handley, Mark Antelme Tel: 0207 404 5959
Notes to Editors:
• Cairn focuses its activities on the geographic region of South Asia.
The Group holds material exploration and production positions in west India,
east India and Bangladesh along with new exploration rights in India and Nepal.
• This focus on South Asia has already resulted in a significant number
of oil and gas discoveries. In particular, the Company made a major oil
discovery (Mangala) in Rajasthan in the north west of India at the beginning of
2004. Cairn has now made 18 discoveries in Rajasthan block RJ-ON-90/1.
• 'Cairn' where referred to in this release means Cairn Energy PLC and/or
its subsidiaries, as appropriate.
For further information on Cairn see www.cairn-energy.plc.uk
These materials contain forward-looking statements regarding Cairn, our
corporate plans, future financial condition, future results of operations,
future business plans and strategies. All such forward-looking statements are
based on our management's assumptions and beliefs in the light of information
available to them at this time. These forward-looking statements are, by their
nature, subject to significant risks and uncertainties and actual results,
performance and achievements may be materially different from those expressed in
such statements. Factors that may cause actual results, performance or
achievements to differ from expectations include, but are not limited to,
regulatory changes, future levels of industry product supply, demand and
pricing, weather and weather related impacts, wars and acts of terrorism,
development and use of technology, acts of competitors and other changes to
business conditions. Cairn undertakes no obligation to revise any such
forward-looking statements to reflect any changes in Cairn's expectations with
regard thereto or any change in circumstances or events after the date hereof.
This information is provided by RNS
The company news service from the London Stock Exchange
Latest directors dealings
- 8 hours ago Johnson Matthey
- 9 hours ago Galliford Try
- 9 hours ago Galliford Try
- 9 hours ago Centrica
- 10 hours ago Smith & Nephew