9th May 2006 17:20
Tullow Oil PLC09 May 2006 Tullow Oil PLC 9 May 2006 Tullow Oil plc ('Tullow' or 'the Company') Director Dealings The Company announces details of the following exercises of options and relatedsales of ordinary shares of 10p each ('Ordinary Shares') by certain directors ofthe Company: A) Graham Martin, General Counsel and an executive director of Tullow, heldoptions over 916,000 Ordinary Shares which were granted on 13 November 1996under the terms of the Tullow 1988 Executive Share Option Scheme and exercisableup to 12 November 2006 with an exercise price of EUR 0.9142 per Ordinary Share. On 9 May 2006, Mr Martin exercised these 916,000 options and sold 250,000Ordinary Shares at 435.5p per Ordinary Share to fund the exercise price and aproportion of the tax and associated transaction costs payable as a consequenceof the exercise and sale. The balance of 666,000 Ordinary Shares has beenretained by Mr Martin. Following these transactions, Mr Martin's shareholding in the Company hasincreased to 1,104,379 Ordinary Shares representing 0.17 per cent of theCompany's issued share capital. B) On 9 May 2006, Paul McDade, Chief Operating Officer and an executivedirector of Tullow, exercised an option granted on 18 June 2001 over 70,000Ordinary Shares at an exercise price of 95p per Ordinary Share and sold theseOrdinary Shares at 435.5p. Following these transactions, Mr McDade continues to hold 15,578 Ordinary Sharesrepresenting 0.002 per cent of the Company's issued share capital. The exercise and sale of the above options and Ordinary Shares was executed inthe UK and this notification relates to transactions notified in accordance withDisclosure Rule 3.1.4R(1)(a) and Disclosure Rule 3.1.4(R)(1)(b) a disclosuremade in accordance with section 324 (as extended by section 328) of theCompanies Act 1985. Inquiries Tom Hickey Tullow Oil plc + 44 208 996 1000 This announcement has been issued through the Companies Announcement Service of The Irish Stock Exchange This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Tullow Oil