CAPRICORN ENERGY PLC

Director's Dealing • Mar 17, 2021

National Storage Mechanism | Additional information

RNS Number : 6089S

Cairn Energy PLC

17 March 2021

FOR IMMEDIATE RELEASE                                                                                              17 March 2021

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

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

in the Company's Shares

1.         Grant of 2021 Awards under the Company's Long Term Incentive Plan (2017)

Cairn announces that, on 17 March 2021, the following Awards (in the form of "nil-cost" options) over its ordinary shares of 21/13 pence each ("Shares") were made under the Long Term Incentive Plan approved by shareholders in 2017 (the "2017 LTIP") to the undernoted Executive Directors and PDMRs of the Company:

Executive Director / PDMR	Number of Shares
Simon Thomson, Chief Executive	822,482
James Smith, Chief Financial Officer	534,947
Eric Hathon, Director of Exploration	440,667
Paul Mayland, Chief Operating Officer	451,065

All Shares were awarded at £1.801 per Share, being the mid-market closing price of a Share on 16 March 2021. 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 2020 AGM (the "Remuneration Policy")) depends upon the extent to which specified performance conditions are met over a three-year performance period. Following any such vesting, Awards will be subject to a further "holding period" during which they cannot be exercised; in the case of the Awards noted above, this period will not expire until the second anniversary of the vesting date.

2.         Summary of current holdings of Executive Directors / PDMRs

Following the grant of the above Awards, the Executive Directors' and PDMRs' beneficial interests in the Shares of the Company are as follows:

Executive Director / PDMR	Current Shares	% Issued Share Capital	Outstanding entitlements under 2017 LTIP
Unvested Awards still subject to performance conditions	Vested but unexercised Awards*
Simon Thomson	1,145,089	0.229	3,239,324	176,128
James Smith	465,928	0.093	2,106,875	114,555
Eric Hathon	42,266	0.008	1,735,554	94,365
Paul Mayland	546,234	0.109	1,802,498	98,486

* 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

Award (in the form of a nil-cost option) of a right to acquire Shares in the Company pursuant to the 2017 LTIP.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	822,482

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

17 March 2021

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 21/13 pence each ("Shares")

Identification code

GB00BN0SMB92

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 2017 LTIP.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	534,947

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

17 March 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 231/169 pence each ("Shares")

Identification code

GB00BN0SMB92

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 2017 LTIP.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	440,667

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

17 March 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 231/169 pence each ("Shares")

Identification code

GB00BN0SMB92

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 2017 LTIP.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0	451,065

d)

Aggregated information

-   Aggregated volume

-   Price

Not applicable

e)

Date of the transaction

17 March 2021

f)

Place of the transaction

London Stock Exchange

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