15th May 2008 09:29
FOR IMMEDIATE RELEASE
15 May 2008
CAIRN ENERGY PLC ("Cairn" or "the Company")
Interests of Directors/Persons Discharging Managerial Responsibility ("PDMRs")
in the Company's Shares
Vesting of Awards under the Company's Long Term Incentive Plan 2002 ("the 2002 LTIP")
Cairn announces that on 14 May 2008, a total of 162,206 Ordinary Shares of 6 2/13 pence each vested in favour of Executive Directors and a PDMR under the 2002 LTIP. Under the 2002 LTIP Rules, 50% of the shares are to be released by the Company's Employees' Share Trust to the Executive Directors/PDMR within 30 days of vesting. The balance of the shares is withheld by the Trust and released to the individuals after one year. Details of the shares that vested are as follows:-
|
Director/PDMR |
Shares Vesting on 14 May 2008 |
|
Sir Bill Gammell, Chief Executive |
39,232 |
|
Dr Mike Watts, Exploration Director |
26,765 |
|
Malcolm Thoms, Chief Operating Officer |
24,492 |
|
Phil Tracy, Engineering & Operations Director |
23,099 |
|
Jann Brown, Finance Director |
16,206 |
|
Simon Thomson, Legal & Commercial Director |
16,206 |
|
Richard Heaton, Head of Exploration |
16,206 |
Following the release of the shares from the Trust, the Executive Directors / PDMR sold a total of 39,010 shares at a price of £33.6592 per share on 14 May 2008. In addition, Simon Thomson, Legal & Commercial Director sold a further 2,437 shares on 14 May 2008 at a price of £33.6592 per share. Details of the share sales and the resulting effect on the Executive Directors' / PDMR's shareholdings are set out below:-
|
Previous Shareholding |
Shares Sold |
New Shareholding |
|
|
Director / PDMR |
|||
|
Sir Bill Gammell |
377,500 |
0 |
416,732 |
|
Dr Mike Watts |
160,000 |
3,382 |
183,383 |
|
Malcolm Thoms |
30,000 |
6,123 |
48,369 |
|
Phil Tracy |
0 |
11,549 |
11,550 |
|
Jann Brown |
30,478 |
6,550 |
40,134 |
|
Simon Thomson |
2,437 |
10,540 |
8,103 |
|
Richard Heaton |
49,200 |
3,303 |
62,103 |
Following this announcement, the Directors'/PDMR's beneficial interests in the Ordinary Shares of the Company are as follows:-
|
Director/PDMR |
Number of Ordinary Shares |
% Issued Share Capital |
Number of Share Options |
Outstanding Awards under 2002 LTIP |
Outstanding Awards Under 2006 LTIP |
||
|
Tier One |
Tier Two |
Cairn India Units |
Capricorn Units |
||||
|
Sir Bill Gammell |
416,732 |
0.318 |
0 |
30,000 |
26,400 |
738,718 |
1,411,481 |
|
Dr Mike Watts |
183,383 |
0.140 |
0 |
21,800 |
28,100 |
269,323 |
1,543,808 |
|
Malcolm Thoms |
48,369 |
0.037 |
0 |
18,700 |
22,400 |
622,673 |
601,802 |
|
Phil Tracy |
11,550 |
0.009 |
0 |
18,700 |
17,500 |
461,699 |
882,176 |
|
Jann Brown |
40,134 |
0.031 |
0 |
11,800 |
9,600 |
384,751 |
735,147 |
|
Simon Thomson |
8,103 |
0.006 |
0 |
12,500 |
11,200 |
192,375 |
1,102,720 |
|
Richard Heaton |
62,103 |
0.047 |
0 |
11,800 |
4,600 |
134,145 |
1,236,649 |
Related Shares:
Capricorn Energy PLC