CAPRICORN ENERGY PLC

Director's Dealing • Feb 3, 2021

National Storage Mechanism | Additional information

RNS Number : 9095N

Cairn Energy PLC

03 February 2021

FOR IMMEDIATE RELEASE                                                                                            3 February 2021

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

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

in the Company's Shares

1.         Purchase of Dividend Shares under the Company's 2010 Share Incentive Plan (the "SIP" or the "Plan")

Following the payment of the special dividend that was approved at the Company's general meeting held on 8 January 2021 (the "Special Dividend"), Cairn announces that, on 2 February 2021, the trustee of the Company's HMRC approved all-employee SIP purchased ordinary shares of 21/13 pence each in the Company ("Ordinary Shares") in the market at a price of £1.773 per Ordinary Share on behalf of those participants in the SIP who had elected to reinvest in further shares the Special Dividend payable on their holdings under the Plan.

As explained in the circular to shareholders dated 17 December 2020, any Ordinary Shares purchased in the above manner are classed as "Dividend Shares" for the purposes of the SIP and are subject to a mandatory three-year holding period during which they cannot normally be sold or otherwise withdrawn from the Plan. Any SIP participant who did not elect to reinvest in Dividend Shares received their Special Dividend in cash.

Details of the Executive Directors and PDMRs who elected to reinvest the Special Dividend payable on their holdings in the SIP are as follows:

Director / PDMR	Number of Dividend Shares Acquired
Simon Thomson, Chief Executive	6,233
Eric Hathon, Director of Exploration	2,224
Paul Mayland, Chief Operating Officer	6,177
Douglas Taylor, Deputy Finance Director	4,221

2.         Summary of current holdings of Executive Directors / PDMRs

Following this announcement, the Executive Directors' and PDMRs' beneficial interests in the Ordinary Shares of the Company are as follows:

Executive Director / PDMR	Previous Shares*	Current Shares	% Issued Share Capital	Outstanding entitlements under 2017 LTIP
Unvested Awards still subject to performance conditions	Vested but unexercised Awards**
Simon Thomson	1,138,856	1,145,089	0.229%	2,416,842	176,128
James Smith	465,928	465,928	0.093%	1,571,928	114,555
Eric Hathon	40,042	42,266	0.008%	1,294,887	94,365
Paul Mayland	540,057	546,234	0.109%	1,351,433	98,486
Miles Warner	12,692	12,692	0.003%	588,749	42,889
Douglas Taylor	203,739	207,960	0.042%	508,067	36,232
David Nisbet	95,295	95,295	0.019%	651,118	47,101

* This share number is the relevant holding following the 11 for 13 ordinary share consolidation that took place on 11 January 2021.             

** 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 2017 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 21/13 pence each ("Shares")

Identification

code

GB00BN0SMB92

b)

Nature of the

transaction

Shares purchased under the Company's all-employee Share Incentive Plan (2010) following an election to reinvest a special dividend.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£1.773	6,233

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2 February 2021

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 21/13 pence each ("Shares")

Identification

code

GB00BN0SMB92

b)

Nature of the

transaction

Shares purchased under the Company's all-employee Share Incentive Plan (2010) following an election to reinvest a special dividend.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£1.773	2,224

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2 February 2021

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 21/13 pence each ("Shares")

Identification

code

GB00BN0SMB92

b)

Nature of the

transaction

Shares purchased under the Company's all-employee Share Incentive Plan (2010) following an election to reinvest a special dividend.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£1.773	6,177

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2 February 2021

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 21/13 pence each ("Shares")

Identification

code

GB00BN0SMB92

b)

Nature of the

transaction

Shares purchased under the Company's all-employee Share Incentive Plan (2010) following an election to reinvest a special dividend.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£1.773	4,221

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

2 February 2021

f)

Place of the transaction

London Stock Exchange

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