11th Mar 2015 14:30
LONDON (Alliance News) - Cairn Energy PLC said Chief Executive Officer Simon Thomson bought 50,000 shares at a price of GBP1.49787 per share Wednesday.
Following this transaction, Thomson holds 507,567 shares, which represents 0.088% stake in the firm.
The FTSE 250 oil company said late Tuesday that it is disputing a draft assessment order from the Indian Income Tax Department calling for it to pay USD1.6 billion plus interest and any penalties for the fiscal year 2006-7 in an effort to "protect its legal position and shareholder interests". The bill equals Cairn Energy's entire market capitalisation.
The oil and gas stock was trading 18% lower at 150.30 pence Wednesday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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