5th Jan 2009 15:00
Tullow Oil plc 5 January 2009
Directors' share dealings
Tullow Oil plc announces that the first tranche of conditional share awards granted in March 2006 to executive directors under the Tullow Oil 2005 Deferred Share Bonus Plan ('DSBP") have vested. Aidan Heavey (Chief Executive) whose award vested on 1 January 2009 has retained all his shares acquired from vesting. Graham Martin (General Counsel) and Paul McDade (Chief Operating Officer) whose awards vested on 2 January 2009 sold sufficient of the shares they acquired on that day to discharge tax obligations arising on vesting. Details of the awards that vested are set out in the table below:
|
Name of Director |
Holding of ordinary shares prior to DSBP vesting date |
DSBP shares vested |
Total shares sold |
Holding of ordinary shares following this notification |
|
Aidan Heavey |
6,000,000 |
20,988 |
- |
6,020,988 |
|
Graham Martin |
1,352,005 |
12,908 |
5,303 |
1,359,610 |
|
Paul McDade |
243,600 |
19,806 |
8,137 |
255,269 |
The total number of shares sold resulting from the above transactions amounted to 13,440 shares, the shares being sold at 653.0p.
This announcement is made in accordance with DR 3.1.4R (1) (a).
The Company was informed by the Directors listed above of the above transactions on 5 January 2009.
For further information contact:
Graham Martin
Tullow Oil plc
+44 208 996 1000
Related Shares:
Tullow Oil