Last checked at 5 May 2017 15:13
FOR IMMEDIATE RELEASE 5 May 2017
CAIRN ENERGY PLC ("Cairn" or "the Company")
Interests of Directors / Persons Discharging Managerial Responsibility ("PDMRs")
in the Company's Shares
1. Purchase of Partnership Shares / Award of Matching Shares under the Company's 2010 Share Incentive Plan (the "SIP")
Cairn announces that, on 5 May 2017, the trustee (the "Trustee") of the Company's HMRC approved all-employee SIP purchased ordinary shares of 231/169 pence each in the Company ("Ordinary Shares") in the market at a price of £1.9128 per Ordinary Share on behalf of participants in the "Partnership Share" element of the SIP using deductions made from their gross salary.
Cairn also announces that, on 5 May 2017, awards of further Ordinary Shares were made to the participants below under the "Matching Share" element of the SIP on the basis of two free Matching Shares for every one Partnership Share purchased. The Ordinary Shares used to satisfy these awards were existing shares previously purchased in the market.
Details of the Executive Directors and PDMRs who participated in the purchase / award are as follows:-
Director / PDMR
| Number of Partnership Shares Purchased | Number of Matching Shares Awarded | Total Number of Shares Acquired
|
Simon Thomson, Chief Executive
| 941 | 1,882 | 2,823 |
James Smith, Chief Financial Officer
| 941 | 1,882 | 2,823 |
Richard Heaton, Director of Exploration
| 941 | 1,882 | 2,823 |
Paul Mayland, Chief Operating Officer
| 941 | 1,882 | 2,823 |
Richard Ember, Regional Director, International
| 941 | 1,882 | 2,823 |
In accordance with the rules of the SIP, Partnership and Matching Shares are initially held by the Trustee on the participants' behalf and, in the case of Matching Shares, must normally remain so held throughout a 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 LTIP
| |
Unvested Awards still subject to performance conditions | Vested but unexercised Awards* | ||||
Simon Thomson | 1,010,740 | 1,013,563 | 0.174 | 1,734,184 | 435,822 |
James Smith | 218,921 | 221,744 | 0.038 | 1,127,924 | 283,461 |
Richard Heaton | 998,671 | 1,001,494 | 0.172 | 1,086,755 | 182,076 |
Paul Mayland | 318,802 | 321,625 | 0.055 | 955,396 | 236,589 |
Douglas Taylor | 163,877 | 163,877 | 0.028 | 352,341 | 88,548 |
Brita Holstad | 0 | 0 | 0 | 408,090 | 250,434 |
Richard Ember | 6,284 | 9,107 | 0.002 | 433,615 | 0** |
Miles Warner | 0 | 0 | 0 | 206,111 | 0** |
* 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 2009 LTIP.
*\* The Awards included within this column were originally made prior to the commencement of employment of Richard Ember and Miles Warner.
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) | Initialnotification/ 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") | ||||
Identificationcode | GB00B74CDH82 | |||||
b) | Nature of thetransaction | Partnership shares purchased under the Company's all-employee Share Incentive Plan (2010). | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
e) | Date of the transaction | 2017-05-05 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
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") | ||||
Identificationcode | GB00B74CDH82 | |||||
b) | Nature of thetransaction | Matching shares awarded under the Company's all-employee Share Incentive Plan (2010) on the basis of two free matching shares for every one partnership share purchased. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
e) | Date of the transaction | 2017-05-05 | ||||
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) | Initialnotification/ 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") | ||||
Identificationcode | GB00B74CDH82 | |||||
b) | Nature of thetransaction | Partnership shares purchased under the Company's all-employee Share Incentive Plan (2010). | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
e) | Date of the transaction | 2017-05-05 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
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") | ||||
Identificationcode | GB00B74CDH82 | |||||
b) | Nature of thetransaction | Matching shares awarded under the Company's all-employee Share Incentive Plan (2010) on the basis of two free matching shares for every one partnership share purchased. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
e) | Date of the transaction | 2017-05-05 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Richard Heaton | ||||
2 | Reason for the notification | |||||
a) | Position/status | Director of Exploration | ||||
b) | Initialnotification/ 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") | ||||
Identificationcode | GB00B74CDH82 | |||||
b) | Nature of thetransaction | Partnership shares purchased under the Company's all-employee Share Incentive Plan (2010). | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
e) | Date of the transaction | 2017-05-05 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
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") | ||||
Identificationcode | GB00B74CDH82 | |||||
b) | Nature of thetransaction | Matching shares awarded under the Company's all-employee Share Incentive Plan (2010) on the basis of two free matching shares for every one partnership share purchased. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
e) | Date of the transaction | 2017-05-05 | ||||
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) | Initialnotification/ 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") | ||||
Identificationcode | GB00B74CDH82 | |||||
b) | Nature of thetransaction | Partnership shares purchased under the Company's all-employee Share Incentive Plan (2010). | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
e) | Date of the transaction | 2017-05-05 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
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") | ||||
Identificationcode | GB00B74CDH82 | |||||
b) | Nature of thetransaction | Matching shares awarded under the Company's all-employee Share Incentive Plan (2010) on the basis of two free matching shares for every one partnership share purchased. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
e) | Date of the transaction | 2017-05-05 | ||||
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) | Initialnotification/ 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") | ||||
Identificationcode | GB00B74CDH82 | |||||
b) | Nature of thetransaction | Partnership shares purchased under the Company's all-employee Share Incentive Plan (2010). | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
e) | Date of the transaction | 2017-05-05 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
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") | ||||
Identificationcode | GB00B74CDH82 | |||||
b) | Nature of thetransaction | Matching shares awarded under the Company's all-employee Share Incentive Plan (2010) on the basis of two free matching shares for every one partnership share purchased. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
e) | Date of the transaction | 2017-05-05 | ||||
f) | Place of the transaction | London Stock Exchange | ||||