Annual Report 2007 in PDF - Cairn Energy PLC

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DIRECTORS’ REMUNERATION REPORT CONTINUED 64 CAIRN ENERGY PLC ANNUAL REPORT 2007 Effective date Unexpired term Notice period Non-executive letters of appointment Norman Murray 19.02.06 11 months None Hamish Grossart 19.02.06 11 months None Ed Story 19.02.06 11 months None Todd Hunt 14.05.06 13 months None Mark Tyndall 10.10.06 18 months None Andrew Shilston 08.11.07 31 months None Certain of the Company’s executive directors serve as non-executive directors on the boards of other companies and are permitted to retain the fees relating to those positions. Details of the positions held and the fees receivable are set out in the table below. Position held Fees (2007) Executive Director Sir Bill Gammell Non-executive director, Artemis AiM VCT plc £12,500 Malcolm Thoms Non-executive director, Revus Energy AS £25,542 (1) Phil Tracy Non-executive director, Vienco Group Limited £18,000 The Board believes, in principle, in the benefits of executive directors accepting positions as non-executive directors of other companies in order to widen their skills and knowledge for the benefit of the Company, provided that the time commitments are not unduly onerous. The appointment of any executive director to a non-executive position with another company must be approved by the Board. In the case of a proposed appointment to a company within the oil and gas industry, permission will only be given if the two companies do not compete in the same geographical area. Note: (1) Payable partly in cash and partly in shares.
DIRECTORS’ REMUNERATION REPORT CONTINUED Performance Graphs Both the FTSE 100 Index and FTSE 250 Index were selected as appropriate comparator indices for the two performance graphs shown below as although Cairn is currently a constituent member of the FTSE 100 Index, it was a constituent member of the FTSE 250 Index for the majority of 2007. The graphs compare Cairn’s TSR with that of the chosen indices. The bar chart is presented as additional information to that required by the Companies Acts, as amended by the Directors’ Remuneration Report Regulations 2002. Performance Graph – Comparison of five-year cumulative total shareholder return on an investment of £100 1,200 1,000 200 180 160 140 120 100 80 60 40 20 0 -20 2002 2003 2004 2005 2006 2007 Performance Graph – Comparison of year on year change in the value of an investment over the past five years 2003 2004 2005 2006 2007 The market value of one Cairn share on 31 December 2007 was £30.74. During 2007, the range of high and low market value of shares was £30.90 to £15.23. CAIRN ENERGY PLC ANNUAL REPORT 2007 65
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ANNUAL REPORT & ACCOUNTS 2007 CAIRN
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CAIRN is an edinburgh based oil and
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CAIRN INDIA performance First comme
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2000 lakshmi disCovery 2001 sarasWa
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THE RESTRUCTURING OF THE GROUP INTO
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ajasthan midstream the government o
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Cambay Basin, India CAIRN ENERGY PL
Page 15 and 16: Cairn india assets 30% 30% 49% 40%
Page 17 and 18: Rajasthan, India the increased reso
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Page 21 and 22: uk (West Of shetland) Block 214/19
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Page 79 and 80: NOTES TO THE ACCOUNTS For the year
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NOTES TO THE ACCOUNTS CONTINUED At
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NOTES TO THE ACCOUNTS CONTINUED Num
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NOTES TO THE ACCOUNTS CONTINUED Oth
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NOTES TO THE ACCOUNTS CONTINUED Cai
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NOTES TO THE ACCOUNTS CONTINUED 34.
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NOTES TO THE ACCOUNTS CONTINUED The
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RESERVES Direct Direct working enti
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NOTICE OF ANNUAL GENERAL MEETING No
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NOTICE OF ANNUAL GENERAL MEETING CO
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GLOSSARY OF TERMS CONTINUED TECHNIC
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