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Cairn Energy PLC (CNE)

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Wednesday 03 February, 2021

Cairn Energy PLC

Director/PDMR Shareholding

RNS Number : 9095N
Cairn Energy PLC
03 February 2021
 

 

 

FOR IMMEDIATE RELEASE  3 February 2021

 

 

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

 

Interests of Directors / Persons Discharging Managerial Responsibility ("PDMRs")

in the Company's Shares

 

1.  Purchase of Dividend Shares under the Company's 2010 Share Incentive Plan (the "SIP" or the "Plan")

 

Following the payment of the special dividend that was approved at the Company's general meeting held on 8 January 2021 (the "Special Dividend"), Cairn announces that, on 2 February 2021, the trustee of the Company's HMRC approved all-employee SIP purchased ordinary shares of 21/13 pence each in the Company ("Ordinary Shares") in the market at a price of £1.773 per Ordinary Share on behalf of those participants in the SIP who had elected to reinvest in further shares the Special Dividend payable on their holdings under the Plan.

 

As explained in the circular to shareholders dated 17 December 2020, any Ordinary Shares purchased in the above manner are classed as "Dividend Shares" for the purposes of the SIP and are subject to a mandatory three-year holding period during which they cannot normally be sold or otherwise withdrawn from the Plan. Any SIP participant who did not elect to reinvest in Dividend Shares received their Special Dividend in cash.

 

Details of the Executive Directors and PDMRs who elected to reinvest the Special Dividend payable on their holdings in the SIP are as follows:

 

 

 

Director / PDMR

 

Number of Dividend Shares Acquired

 

 

Simon Thomson, Chief Executive

 

6,233

 

Eric Hathon, Director of Exploration

 

2,224

 

Paul Mayland, Chief Operating Officer

 

6,177

 

Douglas Taylor, Deputy Finance Director

 

4,221

 

 



 

2.   Summary of current holdings of Executive Directors / PDMRs

 

Following this announcement, the Executive Directors' and PDMRs' beneficial interests in the Ordinary Shares of the Company are as follows:

 

Executive Director / PDMR

Previous

Shares*

Current Shares

% Issued Share Capital

Outstanding entitlements under 2017 LTIP

 

Unvested Awards still subject to performance conditions

Vested but unexercised Awards**

Simon Thomson

1,138,856

1,145,089

0.229%

2,416,842

176,128

James Smith

465,928

465,928

0.093%

1,571,928

114,555

Eric Hathon

40,042

42,266

0.008%

1,294,887

94,365

Paul Mayland

540,057

546,234

0.109%

1,351,433

98,486

Miles Warner

12,692

12,692

0.003%

588,749

42,889

Douglas Taylor

203,739

207,960

0.042%

508,067

36,232

David Nisbet

95,295

95,295

0.019%

651,118

47,101

 

* This share number is the relevant holding following the 11 for 13 ordinary share consolidation that took place on 11 January 2021. 

** 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 2017 LTIP.

 

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 21/13 pence each ("Shares")

Identification
code

GB00BN0SMB92

b)

Nature of the
transaction

Shares purchased under the Company's all-employee Share Incentive Plan (2010) following an election to reinvest a special dividend.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£1.773

6,233

d)

Aggregated information

Aggregated volume

Price

 

 

Not applicable

e)

Date of the transaction

2 February 2021

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 21/13 pence each ("Shares")

Identification
code

GB00BN0SMB92

b)

Nature of the
transaction

Shares purchased under the Company's all-employee Share Incentive Plan (2010) following an election to reinvest a special dividend.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£1.773

2,224

d)

Aggregated information

Aggregated volume

Price

 

 

Not applicable

e)

Date of the transaction

2 February 2021

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 21/13 pence each ("Shares")

Identification
code

GB00BN0SMB92

b)

Nature of the
transaction

Shares purchased under the Company's all-employee Share Incentive Plan (2010) following an election to reinvest a special dividend.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£1.773

6,177

d)

Aggregated information

Aggregated volume

Price

 

 

Not applicable

e)

Date of the transaction

2 February 2021

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 21/13 pence each ("Shares")

Identification
code

GB00BN0SMB92

b)

Nature of the
transaction

Shares purchased under the Company's all-employee Share Incentive Plan (2010) following an election to reinvest a special dividend.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£1.773

4,221

d)

Aggregated information

Aggregated volume

Price

 

 

Not applicable

e)

Date of the transaction

2 February 2021

f)

Place of the transaction

London Stock Exchange

 

 

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