CAPRICORN ENERGY PLC

Transaction in Own Shares • May 4, 2018

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RNS Number : 2246N

Cairn Energy PLC

04 May 2018

FOR IMMEDIATE RELEASE                                                                                                    4 May 2018

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 4 May 2018, 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 £2.315 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 4 May 2018, 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	777	1,554	2,331
James Smith, Chief Financial Officer	777	1,554	2,331
Eric Hathon, Director of Exploration	778	1,556	2,334
Paul Mayland, Chief Operating Officer	777	1,554	2,331
Richard Ember, Regional Director, International	777	1,554	2,331
David Nisbet, Director, Corporate Affairs	777	1,554	2,331

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	1,177,254	1,179,585	0.200	2,169,181	248,464
James Smith	458,873	461,204	0.078	1,410,849	161,602
Eric Hathon	4,425	6,759	0.001	703,039	0**
Paul Mayland	519,818	522,149	0.089	1,212,947	134,880
Brita Holstad	157,783	157,783	0.027	555,042	58,155
Richard Ember	10,775	13,106	0.002	735,836	0**
Miles Warner	0	0	0	528,009	0**
Douglas Taylor	212,389	212,389	0.036	446,053	50,481
David Nisbet	82,940	85,271	0.014	551,575	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 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

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

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£2.315	777

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2018-05-04

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	1,554

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-04

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)
£2.315	777

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2018-05-04

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	1,554

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2017-05-04

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)
£2.315	778

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2018-05-04

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	1,556

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2018-05-04

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)
£2.315	777

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2018-05-04

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	1,554

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2018-05-04

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)
£2.315	777

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2018-05-04

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	1,554

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2018-05-04

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)
£2.315	777

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2018-05-04

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	1,554

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2018-05-04

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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