1st Nov 2006 07:01
Cairn Energy PLC01 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 hisresignation as Finance Director of Cairn. The effective date of Kevin'sresignation will be 17 November 2006, following the Extraordinary GeneralMeeting to be held on that date in connection with the planned Initial PublicOffering of Cairn India. As previously announced, Kevin will be succeeded as Finance Director by JannBrown, who is currently Group Financial Controller. Jann is 51 and has served onthe Group Management Board of the Company for seven years. She holds an MA fromthe University of Edinburgh and joined Cairn in 1998 after a career in theaccountancy profession, mainly with KPMG. She is a member of The Institute ofChartered Accountants of Scotland and The Chartered Institute of Taxation. In addition, Cairn today announces its intention to appoint Simon Thomson asLegal and Commercial Director, also with effect from 17 November 2006. Simon is41 and joined Cairn in 1995 as a lawyer before transferring to the commercialdepartment, which he now heads. He is currently Group Commercial Manager and hasserved on the Group Management Board of the Company for six years. Simon holdsan Honours Law Degree from Aberdeen University and a Diploma of Legal Practicefrom Glasgow University. Sir Bill Gammell, Chief Executive said: " I am delighted with the new appointment of Simon Thomson as Legal andCommercial Director. Simon has been a key member of the senior management teamfor many years and is a well known and respected figure, both in the city andthe oil industry at large." Information required to be disclosed pursuant to the Listing Rules of the UKListing Authority:- The beneficial interests in shares held by Jann Brown and Simon Thomson as atthe date of this announcement are as follows:- Number of Percentage of Issued Number of Outstanding Awards Ordinary Shares Share Capital Share Options underName Long Term Incentive Plan Tier One Tier TwoJann 41,519 0.026 - 54,900 63,300BrownSimon 39,519 0.025 - 55,600 64,900Thomson There are no additional matters which require to be disclosed for the purposesof Listing Rule 9.6.13 of the Listing Rules. Enquiries to: Analysts/Investors Bill Gammell, Chief Executive Tel: 0131 475 3000Kevin Hart, Finance DirectorMike Watts, Exploration Director MediaDavid Nisbet, Head of Group Communications Brunswick Group LLPPatrick 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 numberof oil and gas discoveries. In particular, the Company made a major oildiscovery (Mangala) in Rajasthan in the north west of India at the beginning of2004. 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/orits subsidiaries, as appropriate. For further information on Cairn see www.cairn-energy.plc.uk These materials contain forward-looking statements regarding Cairn, ourcorporate plans, future financial condition, future results of operations,future business plans and strategies. All such forward-looking statements arebased on our management's assumptions and beliefs in the light of informationavailable to them at this time. These forward-looking statements are, by theirnature, subject to significant risks and uncertainties and actual results,performance and achievements may be materially different from those expressed insuch statements. Factors that may cause actual results, performance orachievements to differ from expectations include, but are not limited to,regulatory changes, future levels of industry product supply, demand andpricing, weather and weather related impacts, wars and acts of terrorism,development and use of technology, acts of competitors and other changes tobusiness conditions. Cairn undertakes no obligation to revise any suchforward-looking statements to reflect any changes in Cairn's expectations withregard 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 ExchangeRelated Shares:
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