CAPRICORN ENERGY PLC

Remuneration Information • Mar 13, 2019

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RNS Number : 7527S

Cairn Energy PLC

13 March 2019

FOR IMMEDIATE RELEASE                                                                                               13 March 2019

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

Interests of Directors / Persons Discharging Managerial Responsibility ("PDMRs")

in the Company's Shares

1.         Grant of 2019 Awards under the Company's Long Term Incentive Plan (2017)

Cairn announces that, on 13 March 2019, the following Awards (in the form of "nil-cost" options) over its ordinary shares of 231/169 pence each ("Shares") were made under the Long Term Incentive Plan approved by shareholders in 2017 (the "2017 LTIP") to the undernoted Executive Directors and PDMRs of the Company:

Executive Director / PDMR	Number of Shares
Simon Thomson, Chief Executive	859,933
James Smith, Chief Financial Officer	559,305
Eric Hathon, Director of Exploration	460,732
Paul Mayland, Chief Operating Officer	480,851
Brita Holstad, Regional Director, UK & Norway	221,753
Richard Ember, Regional Director, International	198,059
Miles Warner, General Manager, Senegal	206,817
Douglas Taylor, Deputy Finance Director	178,210
David Nisbet, Director, Corporate Affairs	231,673

All Shares were awarded at £1.6770 per Share, being the mid-market closing price of a Share on 12 March 2019. The vesting of the Awards (which, in the case of the Executive Directors, have been granted in accordance with the Company's directors' remuneration policy that was approved at the 2017 AGM) depends upon the extent to which specified performance conditions are met over a three-year performance period.

2.         Summary of current holdings of Executive Directors / PDMRs

Following the grant of the above Awards, the Executive Directors' and PDMRs' beneficial interests in the Shares of the Company are as follows:

Executive Director / PDMR	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	1,211,397	0.205	3,029,114	248,464
James Smith	461,204	0.078	1,970,154	161,602
Eric Hathon	21,759	0.004	1,163,771	0**
Paul Mayland	522,149	0.089	1,693,798	134,880
Brita Holstad	157,783	0.027	776,795	58,155
Richard Ember	49,402	0.008	693,792	69,932
Miles Warner	0	0	734,826	0**
Douglas Taylor	212,389	0.036	624,263	50,481
David Nisbet	85,271	0.014	783,248	57,423

* 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 Awards included within this column for other individuals were originally made prior to the commencement of employment of Miles Warner and Eric Hathon.

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/ 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

Award (in the form of a nil-cost option) of a right to acquire Shares in the Company pursuant to the 2017 LTIP.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	859,933

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

13 March 2019

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/ 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

Award (in the form of a nil-cost option) of a right to acquire Shares in the Company pursuant to the 2017 LTIP.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	559,305

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

13 March 2019

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/ 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

Award (in the form of a nil-cost option) of a right to acquire Shares in the Company pursuant to the 2017 LTIP.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	460,732

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

13 March 2019

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/ 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

Award (in the form of a nil-cost option) of a right to acquire Shares in the Company pursuant to the 2017 LTIP.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	480,851

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

13 March 2019

f)

Place of the transaction

London Stock Exchange

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Brita Holstad

2

Reason for the notification

a)

Position/status

Regional Director, UK & Norway

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

Award (in the form of a nil-cost option) of a right to acquire Shares in the Company pursuant to the 2017 LTIP.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	221,753

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

13 March 2019

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)

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

Award (in the form of a nil-cost option) of a right to acquire Shares in the Company pursuant to the 2017 LTIP.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	198,059

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

13 March 2019

f)

Place of the transaction

London Stock Exchange

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Miles Warner

2

Reason for the notification

a)

Position/status

General Manager, Senegal

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

Award (in the form of a nil-cost option) of a right to acquire Shares in the Company pursuant to the 2017 LTIP.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	206,817

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

13 March 2019

f)

Place of the transaction

London Stock Exchange

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Douglas Taylor

2

Reason for the notification

a)

Position/status

Deputy Finance Director

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

Award (in the form of a nil-cost option) of a right to acquire Shares in the Company pursuant to the 2017 LTIP.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	178,210

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

13 March 2019

f)

Place of the transaction

London Stock Exchange

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

Award (in the form of a nil-cost option) of a right to acquire Shares in the Company pursuant to the 2017 LTIP.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	231,673

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

13 March 2019

f)

Place of the transaction

London Stock Exchange

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