Source - RNS
RNS Number : 1295K
Cairn Energy PLC
06 April 2018
 

FOR IMMEDIATE RELEASE                                                                                                   6 April 2018

 

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

 

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

in the Company's Shares

 

1.         Award of Free Shares under the Company's 2010 Share Incentive Plan

 

Cairn announces that, on 6 April 2018, it made its annual awards of up to £3,600 worth of ordinary shares of 231/169 pence each in the Company ("Ordinary Shares") to eligible employees under the "Free Share" element of the Company's HMRC approved all-employee Share Incentive Plan established in April 2010 (the "SIP").  No consideration was paid for the grant of these awards. 

 

Details of the Executive Directors and PDMRs who participated in the award, having complied with the eligibility criteria in terms of the rules of the SIP, are as follows:-

 

Executive Director / PDMR

Number of Free Shares Awarded

 

Simon Thomson, Chief Executive

1,665

James Smith, Chief Financial Officer

1,665

Eric Hathon, Director of Exploration

1,665

Paul Mayland, Chief Operating Officer

1,665

Brita Holstad, Regional Director, UK & Norway*

0

Richard Ember, Regional Director, International

1,665

Miles Warner, General Manager, Senegal*

0

Douglas Taylor, Deputy Finance Director

1,665

David Nisbet, Director, Corporate Affairs

1,665

 

*Ms Holstad and Mr Warner do not participate in the SIP as they are not UK resident tax payers.

 

The above awards were based on an Ordinary Share price of £2.162, being the mid-market price of a Cairn share as at close of business on 5 April 2018. The Ordinary Shares awarded to participants in the SIP were existing shares previously purchased in the market.  In accordance with the rules of the SIP, its Trustee will normally hold these Ordinary Shares on behalf of the relevant individuals throughout a holding period of five years from the date of award.

 

2.         Summary of current holdings of Executive Directors / PDMRs

 

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

 

Executive Director / PDMR

Previous

Shares

Current Shares

% Issued Share Capital

Outstanding entitlements under 2009 and 2017 LTIPs

 

Unvested Awards still subject to performance conditions

Vested but unexercised Awards*

Simon Thomson

1,175,589

1,177,254

0.200

2,169,181

248,464

James Smith

 457,208

   458,873

0.078

1,410,849

161,602

Eric Hathon

   2,760

       4,425

0.001

  703,039

0**

Paul Mayland

518,153

  519,818

0.088

1,212,947

134,880

Brita Holstad

157,783

 157,783

0.027

 555,042

  58,155

Richard Ember

9,110

 10,775

0.002

 735,836

0**

Miles Warner

0

0

0

 528,009

0**

Douglas Taylor

210,724

212,389

0.036

 446,053

  50,481

David Nisbet

81,275

 82,940

0.014

 551,575

  57,423

 

* 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.

 

**The Awards included within this column for other individuals 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

Free shares awarded under the Company's all-employee Share Incentive Plan (2010)

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0

1,665

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

2018-04-06

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

Free shares awarded under the Company's all-employee Share Incentive Plan (2010)

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0

1,665

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

2018-04-06

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

Free shares awarded under the Company's all-employee Share Incentive Plan (2010)

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0

1,665

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

2018-04-06

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

Free shares awarded under the Company's all-employee Share Incentive Plan (2010)

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0

1,665

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

2018-04-06

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

Free shares awarded under the Company's all-employee Share Incentive Plan (2010).

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0

1,665

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

2018-04-06

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

Free shares awarded under the Company's all-employee Share Incentive Plan (2010)

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0

1,665

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

2018-04-06

f)

Place of the transaction

London Stock Exchange

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

David Nisbet

2

Reason for the notification

a)

Position/status

Director, Corporate Affairs

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

Free shares awarded under the Company's all-employee Share Incentive Plan (2010)

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0

1,665

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

2018-04-06

f)

Place of the transaction

London Stock Exchange

 


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