26th Apr 2006 09:26
Cairn Energy PLC26 April 2006 FOR IMMEDIATE RELEASE 26 April 2006 CAIRN ENERGY PLC ("Cairn" or "the Company") Section 329 Companies Act 1985 Notification Cairn announces that it today received notification for the purposes of Section329 of the Companies Act 1985 that the Trustee of the Cairn Energy PLCEmployees' Share Trust ("the Trust") has purchased 500,000 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 and Persons DischargingManagerial Responsibility ("PDMRs") of the Company are potential beneficiariesof the Trust, namely:- Sir Bill Gammell, Chief ExecutiveMike Watts, Exploration DirectorKevin Hart, Finance DirectorMalcolm Thoms, Chief Operating Officer Philip Tracy, Engineering & Operations Director Jann Brown, Group Financial Controller Richard Heaton, Head of Exploration - India Simon Thomson, Group Commercial Manager 2. The transaction notified on 26 April 2006 in relation tothe Trust is:- Date of Number of Ordinary Shares Purchase Price of OrdinaryTransaction Purchased Shares25 April 2006 500,000 £24.0824 3. Following this transaction, the total shareholding of theTrust is 2,365,866 shares. 4. The actual number of Ordinary Shares / Notional Shares(excluding those which have previously vested) in which each of the ExecutiveDirectors/PDMRs has an interest (subject to certain performance conditions beingsatisfied) under the LTIP is as follows:- Name of Number of Ordinary Shares Under Number of Notional Shares UnderDirector Tier 1 Tier 2Sir BillGammell 146,500 147,800Mike Watts 96,300 89,000Kevin Hart 90,100 78,000Malcolm Thoms 90,100 78,000Philip Tracy 82,200 91,500Jann Brown 54,900 63,300Richard Heaton 54,900 68,600Simon Thomson 55,600 64,900 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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