1st Apr 2011 17:19
Tullow Oil PLC
1 April 2011
Tullow Oil plc ('Tullow' or 'the Company')
Director Dealing
The Company announces that on 1 April 2011, Graham Martin, General Counsel and an executive director of Tullow, exercised an option granted on 10 October 2001 over 380,000 ordinary shares at an exercise price of 80p per ordinary share. On the same date, he sold 204,554 of these ordinary shares at £14.5439 per ordinary share to fund the exercise price, the tax and associated transaction costs payable as a consequence of the exercise and sale. The balance of 175,446 ordinary shares has been retained by Mr Martin.
Following these transactions, Mr Martin's shareholding in the Company has increased to 1,709,882 ordinary shares representing 0.19 per cent of the Company's issued share capital.
The exercise and sale of the above options and ordinary shares was executed in the UK and this notification relates to transactions notified in accordance with Disclosure Rule 3.1.4R(1)(a).
Inquiries
Chris Perry
Tullow Oil plc
+ 44 203 249 9000
Related Shares:
Tullow Oil