28th Apr 2005 12:33
Cairn Energy PLC28 April 2005 FOR IMMEDIATE RELEASE 28 April 2005 CAIRN ENERGY PLC ("Cairn" or "the Company") Section 329 Companies Act 1985 Notification Cairn announces that it received notification on 27 April 2005 for the purposesof Section 329 of the Companies Act 1985 that the Trustee of the Cairn EnergyPLC Employees' Share Trust ("the Trust") has purchased 750,000 of the Company'sOrdinary Shares of 10 pence each as detailed below. The shares were acquired byRegent Capital Trust Corporation Limited as Trustee of the Trust. The Trust is adiscretionary trust for the benefit of employees of the Company and itssubsidiaries, which operates in conjunction with the Cairn Energy PLC Long TermIncentive Plan 2002 ("the LTIP"). 1. All of the Executive Directors of the Company are potential beneficiaries of the Trust, namely:- Bill Gammell Mike Watts Kevin Hart Malcolm Thoms Philip Tracy 2. The transaction notified on 27 April 2005 in relation to the Trust is:- Date of Number of Ordinary Shares Purchase Price of OrdinaryTransaction Purchased Shares 27 April 2005 750,000 £11.90 3. Following this transaction, the total shareholding of the Trust is 2,871,192 shares. 4. The actual number of Ordinary Shares / Notional Shares (excluding those which have previously vested) in which each of the Executive Directors has an interest (subject to certain performance conditions being satisfied) under the LTIP is as follows:- Name of Number of Ordinary Shares Under Number of Notional Shares Under Director Tier 1 Tier 2 Bill Gammell 246,500 251,400Mike Watts 172,500 190,900Kevin Hart 152,400 185,600Malcolm Thoms 152,400 185,600Philip Tracy 162,500 123,000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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