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RNS Number : 4670C
Cairn Energy PLC
13 April 2017
 

FOR IMMEDIATE RELEASE                                                                                                  13 April 2017

 

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 13 April 2017, 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

1,717

James Smith, Chief Financial Officer

1,717

Richard Heaton, Director of Exploration

1,717

Paul Mayland, Chief Operating Officer

1,717

Douglas Taylor, Deputy Finance Director

1,717

Richard Ember, Regional Director, International

1,717

Brita Holstad, Regional Director (UK & Norway)*

0

Miles Warner, General Manager, Senegal*

0

 

*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 £2.096, being the mid-market price of a Cairn share as at close of business on 12 April 2017. 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 LTIP

 

Unvested Awards still subject to performance conditions

Vested but unexercised Awards*

Simon Thomson

1,009,023

1,010,740

0.173

1,734,184

435,822

James Smith

   217,204

218,921

0.038

1,127,924

283,461

Richard Heaton

  996,954

998,671

0.171

1,086,755

182,076

Paul Mayland

  317,085

318,802

0.055

   955,396

236,589

Douglas Taylor

  162,160

163,877

0.028

   352,341

  88,548

Brita Holstad

0

0

0

408,090

250,434

Richard Ember

4,567

6,284

0.001

433,615

0**

Miles Warner

0

0

0

206,111

0**

 

* 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 2009 LTIP.

 

**The Awards included within this column for other individuals were originally made prior to the commencement of employment of Richard Ember and Miles Warner.

 

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

1,717

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

13 April 2017

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

1,717

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

13 April 2017

f)

Place of the transaction

London Stock Exchange

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Richard Heaton

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

1,717

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

13 April 2017

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

1,717

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

13 April 2017

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

1,717

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

13 April 2017

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

1,717

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

13 April 2017

f)

Place of the transaction

London Stock Exchange

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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