CAPRICORN ENERGY PLC

Major Shareholding Notification • May 5, 2017

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RNS Number : 3713E

Cairn Energy PLC

05 May 2017

FOR IMMEDIATE RELEASE                                                                                                    5 May 2017

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 5 May 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 £1.9128 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 5 May 2017, 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	941	1,882	2,823
James Smith, Chief Financial Officer	941	1,882	2,823
Richard Heaton, Director of Exploration	941	1,882	2,823
Paul Mayland, Chief Operating Officer	941	1,882	2,823
Richard Ember, Regional Director, International	941	1,882	2,823

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 LTIP
Unvested Awards still subject to performance conditions	Vested but unexercised Awards*
Simon Thomson	1,010,740	1,013,563	0.174	1,734,184	435,822
James Smith	218,921	221,744	0.038	1,127,924	283,461
Richard Heaton	998,671	1,001,494	0.172	1,086,755	182,076
Paul Mayland	318,802	321,625	0.055	955,396	236,589
Douglas Taylor	163,877	163,877	0.028	352,341	88,548
Brita Holstad	0	0	0	408,090	250,434
Richard Ember	6,284	9,107	0.002	433,615	0**
Miles Warner	0	0	0	206,111	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 2009 LTIP.

**The Awards included within this column were originally made prior to the commencement of employment of Richard Ember and Miles Warner.

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)
£1.9128	941

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-05

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	1,882

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-05

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)
£1.9128	941

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-05

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	1,882

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-05

f)

Place of the transaction

London Stock Exchange

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Richard Heaton

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)
£1.9128	941

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-05

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	1,882

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-05

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)
£1.9128	941

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-05

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	1,882

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-05

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)
£1.9128	941

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-05

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	1,882

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-05

f)

Place of the transaction

London Stock Exchange

This information is provided by RNS

The company news service from the London Stock Exchange

END

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