RNS Number : 5386H
Cairn Energy PLC
08 June 2017
 

 

FOR IMMEDIATE RELEASE                                                                                                   8 June 2017

 

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

 

Interests of Person Discharging Managerial Responsibility ("PDMR")

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 7 June 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 £1.96385 per Ordinary Share on behalf of the below participant in the "Partnership Share" element of the SIP using a deduction made from his gross salary.

 

Cairn also announces that, on 7 June 2017, an award of further Ordinary Shares was made to the participant 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 this award were existing shares previously purchased in the market.

 

Details of the PDMR who participated in the purchase / award are as follows:-

 

 

 

PDMR

 

Number of Partnership Shares Purchased

Number of Matching Shares Awarded

Total Number of Shares Acquired

 

 

David Nisbet, Director, Corporate Affairs

 

 

77

 

154

 

231

 

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 PDMR

 

Following this announcement, David Nisbet's beneficial interest in the Shares of the Company is as follows:

 

PDMR

Previous

Shares

Current Shares

% Issued Share Capital

Outstanding entitlements under 2009 and 2017 LTIP

 

Unvested Awards still subject to performance conditions

Vested but unexercised Awards**

David Nisbet*

23,439

23,670

0.004

573,782

273,304

 

* David Nisbet is an existing employee of the Company who has recently been designated as a PDMR.

 

** 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 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

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

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

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£1.96385

77

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

2017-06-07

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")

Identification
code

GB00B74CDH82

b)

Nature of the
transaction

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)

Price(s)

Volume(s)

£0.00

154

d)

Aggregated information

-   Aggregated volume

-   Price

 

 

Not applicable

e)

Date of the transaction

2017-06-07

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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