CAPRICORN ENERGY PLC

Transaction in Own Shares • May 23, 2017

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RNS Number : 9901F

Cairn Energy PLC

23 May 2017

FOR IMMEDIATE RELEASE                                                                                                   23 May 2017

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

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

in the Company's Shares

1.         2017 Awards under the Company's Long Term Incentive Plan (2017) ("the 2017 LTIP")

Following shareholder approval of the 2017 LTIP at the Company's AGM on 19 May 2017 (the "AGM"), Cairn announces that the following Awards (in the form of "nil-cost" options) over its ordinary shares of 231/169 pence each ("Shares") were made today under the 2017 LTIP to the undernoted Executive Directors and PDMRs of the Company:-

Executive Director / PDMR	Number of Shares
Simon Thomson, Chief Executive	642,125
James Smith, Chief Financial Officer	417,642
Eric Hathon, Director of Exploration	233,944
Paul Mayland, Chief Operating Officer	359,058
Douglas Taylor, Deputy Finance Director	133,072
Brita Holstad, Regional Director, UK & Norway	172,921
Richard Ember, Regional Director, International	147,893
Miles Warner, General Manager, Senegal	157,522

All Shares were awarded at £2.18 per Share, being the mid-market closing price of a Share on 22 May 2017. 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 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 this announcement, the Executive Directors' and PDMRs' beneficial interests in the Company's Shares 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	1,013,563	0.174	2,376,309	435,822
James Smith	221,744	0.038	1,545,566	283,461
Eric Hathon	0	0	233,944	0**
Paul Mayland	321,625	0.055	1,314,454	236,589
Douglas Taylor	163,877	0.028	485,413	88,548
Brita Holstad	0	0	581,011	250,434
Richard Ember	9,107	0.002	581,508	0**
Miles Warner	0	0	363,633	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 Awards included within this column were originally made prior to the commencement of employment of Richard Ember, 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 Cairn Energy PLC Long Term Incentive Plan (2017)

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	642,125

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-23

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 Cairn Energy PLC Long Term Incentive Plan (2017)

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	417,642

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-23

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 Cairn Energy PLC Long Term Incentive Plan (2017)

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	233,944

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-23

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 Cairn Energy PLC Long Term Incentive Plan (2017)

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	359,058

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-23

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 Cairn Energy PLC Long Term Incentive Plan (2017)

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	133,072

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-23

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 Cairn Energy PLC Long Term Incentive Plan (2017)

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	172,921

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-23

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 Cairn Energy PLC Long Term Incentive Plan (2017)

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	147,893

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-23

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 Cairn Energy PLC Long Term Incentive Plan (2017)

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	157,522

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-23

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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