Last checked at 9 May 2012 16:24
Tullow Oil plc
9 May 2012
Tullow Oil plc ('Tullow' or 'the Company')
Awards of Shares under the Company's 2005 Performance Share Plan
The Company announces that on 9 May 2012 each of the following executive directors were granted nil cost options over the number of ordinary shares of 10p each set out below under the terms of the Tullow Oil 2005 Performance Share Plan:
Director | Number of Performance Share Plan shares awarded 9 May 2012
| Cumulative number of Performance Share Plan shares outstanding
|
Aidan Heavey | 300,000 | 1,022,351 |
Graham Martin | 175,000 | 588,859 |
Angus McCoss | 175,000 | 508,582 |
Paul McDade | 175,000 | 588,859 |
Ian Springett | 175,000 | 587,260 |
The awards granted on 9 May 2012 will normally vest on 9 May 2015 subject to continued employment and the satisfaction of performance conditions. The figures reflect the maximum number of shares that might vest in three years' time - the actual number vesting will depend on the extent to which the performance conditions are satisfied over the three year performance period. The awards will remain exercisable subject to continued employment for a period of 7 years from the date of vesting. No consideration was paid for any of the awards and no consideration is due on vesting.
This notification is made in accordance with DTR 3.1.4R (1)(a).
Enquiries
Graham Martin
Tullow Oil plc
+ 44 203 249 9000