REG - Cairn Energy PLC - Director/PDMR Shareholding
RNS Number : 6440VCairn Energy PLC15 April 2021
FOR IMMEDIATE RELEASE 15 April 2021
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 15 April 2021, it made its annual awards of up to £3,600 worth of ordinary shares of 21/13 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
2,116
James Smith, Chief Financial Officer
2,116
Eric Hathon, Director of Exploration
2,116
Paul Mayland, Chief Operating Officer
2,116
The above awards were based on an Ordinary Share price of £1.701, being the closing price of a Cairn share on 14 April 2021. 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
1,145,089
1,147,205
0.230
2,569,262
629,600
James Smith
465,928
468,044
0.094
1,671,063
409,496
Eric Hathon
42,266
44,382
0.009
1,376,551
337,324
Paul Mayland
546,234
548,350
0.110
1,427,817
352,055
* 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
Simon Thomson
2
Reason for the notification
a)
Position/status
Chief Executive
b)
Initial
notification/ AmendmentInitial 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 21/13 pence each
Identification
codeGB00BN0SMB92
b)
Nature of the
transactionFree shares awarded under the Company's all-employee Share Incentive Plan (2010)
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£0
2,116
d)
Aggregated information
- Aggregated volume
- Price
Not applicable
e)
Date of the transaction
2021-04-15
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/ AmendmentInitial 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 21/13 pence each
Identification
codeGB00BN0SMB92
b)
Nature of the
transactionFree shares awarded under the Company's all-employee Share Incentive Plan (2010)
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£0
2,116
d)
Aggregated information
- Aggregated volume
- Price
Not applicable
e)
Date of the transaction
2021-04-15
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/ AmendmentInitial 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 21/13 pence each
Identification
codeGB00BN0SMB92
b)
Nature of the
transactionFree shares awarded under the Company's all-employee Share Incentive Plan (2010)
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£0
2,116
d)
Aggregated information
- Aggregated volume
- Price
Not applicable
e)
Date of the transaction
2021-04-15
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/ AmendmentInitial 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 21/13 pence each
Identification
codeGB00BN0SMB92
b)
Nature of the
transactionFree shares awarded under the Company's all-employee Share Incentive Plan (2010)
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£0
2,116
d)
Aggregated information
- Aggregated volume
- Price
Not applicable
e)
Date of the transaction
2021-04-15
f)
Place of the transaction
London Stock Exchange
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