Cairn Energy PLC Director/PDMR Shareholding (3924N)

TIDMCNE

RNS Number : 3924N

Cairn Energy PLC

08 August 2017

FOR IMMEDIATE RELEASE 8 August 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 August 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 GBP1.708 per Ordinary Share on behalf of the participants below in the "Partnership Share" element of the SIP using a deduction made from their gross salary.

Cairn also announces that, on 7 August 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 PDMRs who participated in the purchase / award are as follows:

 
                                            Number           Number        Total 
            Director / PDMR              of Partnership    of Matching     Number 
                                             Shares          Shares       of Shares 
                                           Purchased         Awarded      Acquired 
-------------------------------------  ----------------  -------------  ----------- 
 
   David Nisbet, Director, Corporate 
   Affairs                                     791            1,582         2,373 
-------------------------------------  ----------------  -------------  ----------- 
 

In accordance with the rules of the SIP, Partnership and Matching Shares are initially held by the Trustee on the participant's 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, the PDMRs' beneficial interest in the Shares of the Company are as follows:

 
 Executive Director /    Previous   Current Shares      % Issued Share       Outstanding entitlements under 2009 and 
         PDMR             Shares                           Capital                          2017 LTIP 
----------------------  ---------  ---------------  ---------------------  ------------------------------------------- 
                                                                              Unvested Awards          Vested but 
                                                                             still subject to     unexercised Awards* 
                                                                                performance 
                                                                                conditions 
----------------------  ---------  ---------------  ---------------------  --------------------  --------------------- 
 David Nisbet             23,922        26,295              0.005                 573,782               273,304 
----------------------  ---------  ---------------  ---------------------  --------------------  --------------------- 
 

* 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                      Initial Notification 
        notification/ 
        Amendment 
----  --------------------------  ---------------------------------------- 
  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                  Ordinary shares of 231 /169 pence 
        of the financial             each ("Shares") 
        instrument, 
        type of instrument 
---- 
       Identification               GB00B74CDH82 
        code 
----  --------------------------  ---------------------------------------- 
  b)   Nature of                   Partnership shares purchased under 
        the                         the Company's all-employee Share 
        transaction                 Incentive Plan (2010). 
----  --------------------------  ---------------------------------------- 
  c)   Price(s) and                 Price(s)    Volume(s) 
        volume(s)                   ----------  ---------- 
                                     GBP1.708       791 
                                    ----------  ---------- 
----  --------------------------  ---------------------------------------- 
  d)    Aggregated                  Not applicable 
         information 
          *    Aggregated volume 
 
 
          *    Price 
----  --------------------------  ---------------------------------------- 
  e)   Date of the                 2017-08-07 
        transaction 
----  --------------------------  ---------------------------------------- 
  f)   Place of the                London Stock Exchange 
        transaction 
----  --------------------------  ---------------------------------------- 
  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                  Ordinary shares of 231/169 pence 
        of the financial             each ("Shares") 
        instrument, 
        type of instrument 
---- 
       Identification               GB00B74CDH82 
        code 
----  --------------------------  ---------------------------------------- 
  b)   Nature of                   Matching shares awarded under the 
        the                         Company's all-employee Share Incentive 
        transaction                 Plan (2010) on the basis of two 
                                    free matching shares for every one 
                                    partnership share purchased. 
----  --------------------------  ---------------------------------------- 
  c)   Price(s) and                 Price(s)    Volume(s) 
        volume(s)                   ----------  ---------- 
                                      GBP0.00      1,582 
                                    ----------  ---------- 
----  --------------------------  ---------------------------------------- 
  d)    Aggregated                  Not applicable 
         information 
          *    Aggregated volume 
 
 
          *    Price 
----  --------------------------  ---------------------------------------- 
  e)   Date of the                 2017-08-07 
        transaction 
----  --------------------------  ---------------------------------------- 
  f)   Place of the                London Stock Exchange 
        transaction 
----  --------------------------  ---------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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August 08, 2017 04:58 ET (08:58 GMT)