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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tullow Oil Plc | LSE:TLW | London | Ordinary Share | GB0001500809 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.38 | -1.05% | 35.82 | 35.80 | 35.94 | 37.00 | 35.80 | 36.00 | 6,482,435 | 16:35:01 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 1.63B | -109.6M | -0.0754 | -4.75 | 520.58M |
TIDMTLW
RNS Number : 8589O
Tullow Oil PLC
11 February 2016
Tullow Oil plc
11 February 2016
Tullow Oil plc ('Tullow' or the 'Company')
Director/PDMR Notification
Awards of Shares under the Tullow Incentive Plan
The Company announces that on 11 February 2016 each of the following Executive Directors and other PDMRs were granted nil exercise price options over the number of ordinary shares of 10p each in the Company set out below under the terms of the Tullow Incentive Plan:
Number of Number of Number of Cumulative Tullow Incentive Tullow Incentive Tullow Incentive number Plan Shares Plan Shares Plan Shares of Tullow awarded awarded awarded Incentive 11 February 18 February 19 February Plan Shares 2016 2015 2014 outstanding ---------------- ------------------ ------------------ ------------------ ------------- Executive Directors ------------------------------------------------------------------------------------------- Aidan Heavey 565,423 152,772 102,992 821,187 ---------------- ------------------ ------------------ ------------------ ------------- Angus McCoss 319,767 86,398 58,246 464,411 ---------------- ------------------ ------------------ ------------------ ------------- Graham Martin 319,767 86,398 58,246 464,411 ---------------- ------------------ ------------------ ------------------ ------------- Ian Springett 339,529 91,737 61,845 493,111 ---------------- ------------------ ------------------ ------------------ ------------- Paul McDade 319,767 86,398 58,246 464,411 ---------------- ------------------ ------------------ ------------------ ------------- Other PDMRs ------------------------------------------------------------------------------------------- Brian Williams 145,976 32,862 32,796 211,634 ---------------- ------------------ ------------------ ------------------ ------------- David Lawrie 135,833 30,578 26,066 192,477 ---------------- ------------------ ------------------ ------------------ ------------- Gary Thompson 143,674 32,343 8,765 184,782 ---------------- ------------------ ------------------ ------------------ ------------- Ian Cloke 99,037 22,295 21,628 142,960 ---------------- ------------------ ------------------ ------------------ ------------- Les Wood 136,422 26,756 0 163,178 ---------------- ------------------ ------------------ ------------------ -------------
No consideration was paid for any of the awards and no consideration is due on vesting.
The awards granted to the Executive Directors on 11 February 2016 will normally vest on 11 February 2021. The awards granted to the other PDMRs on 11 February 2016 will normally vest on 11 February 2019.
The awards granted to the Executive Directors on 18 February 2015 will normally vest on 18 February 2019 as to 50% of the shares subject to each award and 18 February 2020 as to the remaining 50% of the shares. The awards granted to the other PDMRs on 18 February 2015 will normally vest on 18 February 2018.
The awards granted to the Executive Directors on 19 February 2014 will normally vest on 19 February 2017 as to 50% of the shares subject to each award and 19 February 2018 as to the remaining 50% of the shares. The awards granted to the other PDMRs on 19 February 2014 will normally vest on 19 February 2017.
Vested awards which are not exercised will expire on the tenth anniversary from the date of grant.
Tullow further announces that the following dealings in ordinary shares of 10p each in the Company were undertaken by a director of the Company on the London Stock Exchange on 10 and 11 February 2016.
Exercise of Deferred Share Bonus Plan Options and Sale
On 10 February 2016, Angus McCoss (Chief Exploration Officer and Executive Director) exercised 'nil cost' options over a total of 25,816 shares granted to him in 2013 pursuant to terms of the Tullow Oil 2005 Deferred Share Bonus Plan ('DSBP'). On the following day, Mr McCoss sold 12,192 ordinary shares at GBP1.47 per share to discharge tax obligations arising on the exercise of his options. The shares exercised by Mr McCoss will be pledged to UBS Private Banking as security for certain personal loans. Notwithstanding the pledging of such shares, he remains the beneficial owner of such shares.
Following these transactions, the number of shares held by Mr McCoss increased as shown in the second table below.
Full details of the options exercised, the ordinary shares sold and the resultant shareholding of Mr McCoss are disclosed in the tables below.
Options Exercised
Director Plan Grant No. of No. of No. of Exercise price date Shares Shares Shares over vested over which which options option granted exercised ---------- ------ ---------- --------- -------- ----------- --------------- Angus McCoss DSBP 22.02.13 25,816 25,816 25,816 N/A ---------- ------ ---------- --------- -------- ----------- ---------------
Shares Sold and Shareholding
Director Holdings Total Ordinary Net Share Holdings of Shares Shares Shares increase of Shares prior acquired sold on following following to 10 on exercise 11 Feb exercise this notification Feb 2016 of options 2016 and sale on 10 Feb 2016 ---------- ----------- ------------- --------- ----------- ------------------- Angus McCoss 261,078 25,816 12,192 13,624 274,702 ---------- ----------- ------------- --------- ----------- -------------------
Note:
1. In addition to the above holding, Angus McCoss holds a total of 5,150 Shares under the terms of the Tullow Oil UK Share Incentive Plan comprising 1,503 partnership shares, 1,503 matching shares and 2,144 unrestricted shares.
The Company was informed of Mr McCoss' exercise on 10 February 2016 and the other transactions described above on 11 February 2016.
This notification is made in accordance with DTR 3.1.4R.
Enquiries
Kevin Massie
Tullow Oil plc
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
February 11, 2016 13:15 ET (18:15 GMT)
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