The following amendment(s) has (have) been made to the 'Director/PDMR Shareholding' announcement released on 19 March 2020 at 14:01 under RNS No 8409G.

The word pence has been removed from the second line of the first paragraph (after the purchase price shown in section 1.)

All other details remain unchanged.

The full amended text is shown below.

FOR IMMEDIATE RELEASE                                                                                              19 March 2020

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

Interests of Persons Discharging Managerial Responsibility ("PDMRs")

in the Company's Shares

1.         Share purchase by Eric Hathon, Director of Exploration

Cairn announces that, on 18 March 2020, Eric Hathon, Director of Exploration, purchased 10,000 Ordinary Shares of 231/169 pence each in the Company ("Shares") at a price of £0.6992 per Share.

2.         Exercises of balance of Awards under the Company's Long Term Incentive Plan 2009 (the "2009 LTIP")

Cairn also announces that, on 18 and 19 March 2020, it received notices of exercise from Richard Ember, Regional Director, International, and Paul Mayland, Chief Operating Officer, in relation to an Awards over Shares that had originally been granted under the rules of the 2009 LTIP on 6 October 2015 and 19 March 2015 respectively.

The first notice of exercise, received on 18 March 2020, relates to the proportion of Richard Ember's Award that originally vested on 15 November 2018 but which was subject to a further holding period of one year. A summary of the relevant events / transactions in respect of his exercise is shown in the table below:

The above Award (which is in the form of a "nil-cost" option) vested, in part, on 15 November 2018 following the expiry of the applicable three-year performance period. The extent of such vesting reflected the fact that the Company's total shareholder return over that period was above the median ranking in the specified comparator group. 

Under the 2009 LTIP's rules, 50% of the vested Award was immediately exercisable, with the balance becoming exercisable after a further holding period of one year (subject to any dealing restrictions in place at that time). The exercise of the immediately exercisable portion of this Award by the above individual was previously announced by the Company on 20 November 2018.

The second notice of exercise, received on 19 March 2020, relates to the proportion of Paul Mayland's Award that originally vested on 26 March 2018 but which was subject to a further holding period of one year. A summary of the relevant events / transactions in respect of his exercise is shown in the table below.

The above Award (which is in the form of a "nil-cost" option) vested, in part, on 26 March 2018 following the expiry of the applicable three-year performance period. The extent of such vesting reflected the fact that the Company's total shareholder return over that period was above the median ranking in the specified comparator group. 

Under the 2009 LTIP's rules, 50% of the vested Award was immediately exercisable, with the balance becoming exercisable after a further holding period of one year (subject to any dealing restrictions in place at that time). The exercise of the immediately exercisable portion of this Award by the above individual was previously announced by the Company on 28 March 2018.

3. Subsequent sale of Shares by Richard Ember and Paul Mayland

In order to fund some / all of the income tax and national insurance liabilities arising on the exercises summarised in section 2. above, the following shares were sold on behalf of Richard Ember and Paul Mayland.

4. Summary of current holdings of above PDMRs

Following the purchase by Eric Hathon (see 1. above), and the exercise and sale by Richard Ember and Paul Mayland (see 2. and 3. above), their beneficial interests in the Shares of the Company are as follows:

The following notification is intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).