29th May 2009 09:13
FOR IMMEDIATE RELEASE
29 May 2009
CAIRN ENERGY PLC ("Cairn" or "the Company")
Interests of Directors/Persons Discharging Managerial Responsibility ("PDMRs")
in the Company's Shares
Release of Shares under the Company's Long Term Incentive Plan (2002)
Awards under the Company's Long Term Incentive Plan (2009) ("the 2009 LTIP")
Cairn announces that on 28 May 2009 it was notified by the Trustee of the Company's Employees' Share Trust ("the Trust") that a total of 81,104 Ordinary Shares were released by the Trust on 28 May 2009 to the Executive Directors and a PDMR of the Company under the Company's Long Term Incentive Plan 2002. The shares were released following the expiry of the one year withholding period in respect of the awards made on 20/28 April 2005 (for which there was a three year performance period).
Details of the shares released from the Trust are as follows:-
|
Director/PDMR |
Number of Shares released following the expiry of withholding period |
|
Sir Bill Gammell, Chief Executive |
19,616 |
|
Dr Mike Watts, Deputy Chief Executive |
13,383 |
|
Malcolm Thoms, Chief Operating Officer |
12,246 |
|
Phil Tracy, Engineering & Operations Director |
11,550 |
|
Jann Brown, Finance Director |
8,103 |
|
Simon Thomson, Legal & Commercial Director |
8,103 |
|
Richard Heaton, Head of Exploration |
8,103 |
Share Dealings
Cairn also announces that it has received notifications of the following dealings in the Company's shares by Directors / a PDMR:-
On 28 May 2009 the following Directors / PDMR sold a total of 56,483 Ordinary Shares at £24.28 per Share:-
|
Director/PDMR |
Number of Shares Sold |
|
Sir Bill Gammell |
19,616 |
|
Dr Mike Watts |
5,488 |
|
Malcolm Thoms |
5,000 |
|
Phil Tracy |
11,550 |
|
Jann Brown |
3,323 |
|
Simon Thomson |
8,103 |
|
Richard Heaton |
3,403 |
Cairn also announces that the following awards were made today under the 2009 LTIP to Directors / a PDMR of the Company:-
|
Director/PDMR |
Number of Cairn Shares |
|
Sir Bill Gammell |
67,400 |
|
Dr Mike Watts |
65,500 |
|
Malcolm Thoms |
42,100 |
|
Phil Tracy |
42,100 |
|
Jann Brown |
49,100 |
|
Simon Thomson |
49,100 |
|
Richard Heaton |
35,100 |
All Cairn Shares were awarded at £24.56 per Share (the mid-market price of a Cairn share as at close of business on 28 May 2009).
Each of the awards will ordinarily vest on or around the third anniversary of grant, but only to the extent that specified performance conditions are satisfied over a period of three years from the date of award.
Following this announcement, the Directors' / PDMR's beneficial interests in the Ordinary Shares of the Company are as follows:-
|
Director/PDMR |
Previous Share- holding |
New Share-holding |
% Issued Share Capital |
Outstanding Awards Under 2006 LTIP |
Outstanding Awards Under 2009 LTIP |
|
|
Cairn India Units |
Capricorn Units |
Cairn Energy PLC Shares |
||||
|
Sir Bill Gammell |
421,732 |
402,116 |
0.0029 |
738,718 |
1,411,481 |
67,400 |
|
Dr Mike Watts |
193,383 |
187,895 |
0.0014 |
269,323 |
1,543,808 |
65,500 |
|
Malcolm Thoms |
53,869 |
48,869 |
0.0003 |
622,673 |
601,802 |
42,100 |
|
Phil Tracy |
11,550 |
0 |
0 |
461,699 |
882,176 |
42,100 |
|
Jann Brown |
41,434 |
38,111 |
0.0003 |
384,751 |
735,147 |
49,100 |
|
Simon Thomson |
9,403 |
1,300 |
0.00001 |
192,375 |
1,102,720 |
49,100 |
|
Richard Heaton |
63,403 |
60,000 |
0.0004 |
134,145 |
1,236,649 |
35,100 |
Related Shares:
Capricorn Energy PLC