CAPRICORN ENERGY PLC

Director's Dealing • May 8, 2019

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RNS Number : 3913Y

Cairn Energy PLC

08 May 2019

FOR IMMEDIATE RELEASE                                                                                                   8 May 2019

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

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

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 May 2019, 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 £1.6018 per Ordinary Share on behalf of participants in the "Partnership Share" element of the SIP using deductions made from their gross salary.

Cairn also announces that, on 7 May 2019, awards of further Ordinary Shares were made to the participants 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 these awards were existing shares previously purchased in the market.

Details of the Executive Directors and PDMRs who participated in the purchase / award are as follows:-

Director / PDMR	Number of Partnership Shares Purchased	Number of Matching Shares Awarded	Total Number of Shares Acquired
Simon Thomson, Chief Executive	1,123	2,246	3,369
James Smith, Chief Financial Officer	1,123	2,246	3,369
Eric Hathon, Director of Exploration	1,123	2,246	3,369
Paul Mayland, Chief Operating Officer	1,123	2,246	3,369
Richard Ember, Regional Director, International	1,123	2,246	3,369
David Nisbet, Director, Corporate Affairs	1,123	2,246	3,369

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 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	1,342,553	1,345,922	0.228	2,172,120	0
James Smith	547,275	550,644	0.093	1,412,759	0
Eric Hathon	33,954	37,323	0.006	1,163,771	0
Paul Mayland	524,344	527,713	0.090	1,214,590	134,880
Brita Holstad	188,549	188,549	0.032	574,017	0
Richard Ember	51,597	54,966	0.009	500,280	69,932
Miles Warner	15,000	15,000	0.003	528,715	0
Douglas Taylor	240,784	240,784	0.041	450,144	0
David Nisbet	109,254	112,623	0.019	585,187	0

* 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/ 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)
£1.6018	1,123

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2019-05-07

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	2,246

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2019-05-07

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

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

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£1.6018	1,123

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2019-05-07

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	2,246

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2019-05-07

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

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

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£1.6018	1,123

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2019-05-07

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	2,246

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2019-05-07

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

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

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£1.6018	1,123

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2019-05-07

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	2,246

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2019-05-07

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

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

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£1.6018	1,123

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2019-05-07

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	2,246

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2019-05-07

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

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

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£1.6018	1,123

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2019-05-07

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	2,246

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2019-05-07

f)

Place of the transaction

London Stock Exchange

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