Source - RNS
RNS Number : 7367J
Cairn Energy PLC
30 June 2017
 

The following replaces the Director / PDMR Shareholding announcement released on 23 May 2017 at 13:48 under RNS Number 9901F.

 

The figure stated in respect of Eric Hathon's award was incorrect and has been amended in the tables below. The relevant amendments are identified with an asterisk (*). All other details remain unchanged.

 

FOR IMMEDIATE RELEASE                                                                                                   23 May 2017

 

 

CAIRN ENERGY PLC ("Cairn" or "the Company")

 

Interests of Directors / Persons Discharging Managerial Responsibility ("PDMRs")

in the Company's Shares

 

1.         2017 Awards under the Company's Long Term Incentive Plan (2017) ("the 2017 LTIP")

 

Following shareholder approval of the 2017 LTIP at the Company's AGM on 19 May 2017 (the "AGM"), Cairn announces that the following Awards (in the form of "nil-cost" options) over its ordinary shares of 231/169 pence each ("Shares") were made today under the 2017 LTIP to the undernoted Executive Directors and PDMRs of the Company:-

 

Executive Director / PDMR

 

Number of Shares

Simon Thomson, Chief Executive

642,125

James Smith, Chief Financial Officer

417,642

Eric Hathon, Director of Exploration

 344,036*

Paul Mayland, Chief Operating Officer

359,058

Douglas Taylor, Deputy Finance Director

133,072

Brita Holstad, Regional Director, UK & Norway

172,921

Richard Ember, Regional Director, International

147,893

Miles Warner, General Manager, Senegal

157,522

 

All Shares were awarded at £2.18 per Share, being the mid-market closing price of a Share on 22 May 2017. The vesting of the Awards (which, in the case of the Executive Directors, have been granted in accordance with the Company's directors' remuneration policy that was approved at the AGM) depends upon the extent to which specified performance conditions are met over a three year performance period.

 

2.         Summary of current holdings of Executive Directors / PDMRs

 

Following this announcement, the Executive Directors' and PDMRs' beneficial interests in the Company's Shares are as follows:

 

Executive Director / PDMR

Current Shares

% Issued Share Capital

Outstanding entitlements under

2009 and 2017 LTIPs

 

Unvested Awards still subject to performance conditions

Vested but unexercised Awards1

Simon Thomson

1,013,563

0.174

2,376,309

435,822

James Smith

221,744

0.038

1,545,566

283,461

Eric Hathon

0

0

   344,036*

02

Paul Mayland

321,625

0.055

         1,314,454

236,589

Douglas Taylor

163,877

0.028

485,413

88,548

Brita Holstad

0

0

581,011

250,434

Richard Ember

9,107

0.002

581,508

02

Miles Warner

0

0

363,633

02

 

1 This column includes all outstanding Awards that have vested following the expiry of the applicable performance period, regardless of whether or not they are currently capable of being exercised under the rules of the applicable LTIP.

 

2 The Awards included within this column were originally made prior to the commencement of employment of Richard Ember, Miles Warner and Eric Hathon.

 

The following notifications are intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Simon Thomson

2

Reason for the notification

a)

Position/status

Chief Executive

b)

Initial
notification/ Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Cairn Energy PLC

b)

LEI

213800ZJEUQ8ZOC9AL24

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary shares of 231/169 pence each ("Shares")

Identification
code

GB00B74CDH82

b)

Nature of the
transaction

Award (in the form of a "nil-cost" option) of a right to acquire Shares in the Company pursuant to the Cairn Energy PLC Long Term Incentive Plan (2017)

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0

642,125

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

2017-05-23

f)

Place of the transaction

London Stock Exchange

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

James Smith

2

Reason for the notification

a)

Position/status

Chief Financial Officer

b)

Initial
notification/ Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Cairn Energy PLC

b)

LEI

213800ZJEUQ8ZOC9AL24

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary shares of 231/169 pence each ("Shares")

Identification
code

GB00B74CDH82

b)

Nature of the
transaction

Award (in the form of a "nil-cost" option) of a right to acquire Shares in the Company pursuant to the Cairn Energy PLC Long Term Incentive Plan (2017)

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0

417,642

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

2017-05-23

f)

Place of the transaction

London Stock Exchange

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Eric Hathon

2

Reason for the notification

a)

Position/status

Director of Exploration

b)

Initial
notification/ Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Cairn Energy PLC

b)

LEI

213800ZJEUQ8ZOC9AL24

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary shares of 231/169 pence each ("Shares")

Identification
code

GB00B74CDH82

b)

Nature of the
transaction

Award (in the form of a "nil-cost" option) of a right to acquire Shares in the Company pursuant to the Cairn Energy PLC Long Term Incentive Plan (2017)

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0

344,036*

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

2017-05-23

f)

Place of the transaction

London Stock Exchange

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Paul Mayland

2

Reason for the notification

a)

Position/status

Chief Operating Officer

b)

Initial
notification/ Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Cairn Energy PLC

b)

LEI

213800ZJEUQ8ZOC9AL24

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary shares of 231/169 pence each ("Shares")

Identification
code

GB00B74CDH82

b)

Nature of the
transaction

Award (in the form of a "nil-cost" option) of a right to acquire Shares in the Company pursuant to the Cairn Energy PLC Long Term Incentive Plan (2017)

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0

359,058

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

2017-05-23

f)

Place of the transaction

London Stock Exchange

 



 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Douglas Taylor

2

Reason for the notification

a)

Position/status

Deputy Finance Director

b)

Initial
notification/ Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Cairn Energy PLC

b)

LEI

213800ZJEUQ8ZOC9AL24

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary shares of 231/169 pence each ("Shares")

Identification
code

GB00B74CDH82

b)

Nature of the
transaction

Award (in the form of a "nil-cost" option) of a right to acquire Shares in the Company pursuant to the Cairn Energy PLC Long Term Incentive Plan (2017)

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0

133,072

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

2017-05-23

f)

Place of the transaction

London Stock Exchange

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Brita Holstad

2

Reason for the notification

a)

Position/status

Regional Director, UK & Norway

b)

Initial
notification/ Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Cairn Energy PLC

b)

LEI

213800ZJEUQ8ZOC9AL24

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary shares of 231/169 pence each ("Shares")

Identification
code

GB00B74CDH82

b)

Nature of the
transaction

Award (in the form of a "nil-cost" option) of a right to acquire Shares in the Company pursuant to the Cairn Energy PLC Long Term Incentive Plan (2017)

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0

172,921

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

2017-05-23

f)

Place of the transaction

London Stock Exchange

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Richard Ember

2

Reason for the notification

a)

Position/status

Regional Director, International

b)

Initial
notification/ Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Cairn Energy PLC

b)

LEI

213800ZJEUQ8ZOC9AL24

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary shares of 231/169 pence each ("Shares")

Identification
code

GB00B74CDH82

b)

Nature of the
transaction

Award (in the form of a "nil-cost" option) of a right to acquire Shares in the Company pursuant to the Cairn Energy PLC Long Term Incentive Plan (2017)

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0

147,893

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

2017-05-23

f)

Place of the transaction

London Stock Exchange

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Miles Warner

2

Reason for the notification

a)

Position/status

General Manager, Senegal

b)

Initial
notification/ Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Cairn Energy PLC

b)

LEI

213800ZJEUQ8ZOC9AL24

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary shares of 231/169 pence each ("Shares")

Identification
code

GB00B74CDH82

b)

Nature of the
transaction

Award (in the form of a "nil-cost" option) of a right to acquire Shares in the Company pursuant to the Cairn Energy PLC Long Term Incentive Plan (2017)

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0

157,522

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

2017-05-23

f)

Place of the transaction

London Stock Exchange

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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