BRAEMAR SHIPPING SERVICES PLC
("Braemar", the "Company" or the "Group")
11 June 2021
Director / PDMR Shareholding
Braemar Shipping Services Plc (LSE: BMS), a leading international provider of shipbroking, financial advisory and logistics services to the shipping and energy industries, announces that it has granted the following awards over ordinary shares of 10p each in the Company ("Ordinary Shares") under the Company's Deferred Bonus Plan (the "DBP") on 8 June 2021 to certain Persons Discharging Managerial Responsibilities ("PDMRs") of the Company in relation to the individuals' annual bonuses in respect of the 2020/2021 financial year:
James Gundy, CEO, Shipbroking - 169,925
Nicholas Stone, Group COO & Finance Director - 25,398
Peter Mason, General Counsel & Company Secretary - 12,138
These awards will ordinarily vest in three years from the date of grant in accordance with the rules of the DBP.
Peter Mason has also been given corresponding options under the Company Share Option Plan ("CSOP") over 11,278 Ordinary Shares each, which will vest on the same date as the DBP awards above. The exercise price for the options is £2.66 per share, which is the average of the middle-market quotations of the Ordinary Shares over the three days immediately preceding the grant date. The number of shares in respect of which the DBP award will vest will be reduced to take account of any gain in value, as at exercise, of the CSOP options.
Further information on the DBP and the CSOP is contained in the Company's 2020 Annual Report.
The Company also announces that an error has been identified in a Director / PDMR notification made by the Company on 8 July 2019. The amount of options granted to Nick Stone, the Group's COO & Finance Director, under the Company's Save as you Earn scheme (the "SAYE Scheme") on 5 July 2019 was stated in error as 5,625. The correct number was 4,500.
The notifications set out below provide further details in accordance with the requirements of the EU Market Abuse Regulation, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.
For further information, contact:
| Braemar Shipping Services | |
| James Gundy, Group Chief Executive Officer | Tel +44 (0) 20 3142 4100 |
| Nick Stone, Group Chief Operating Officer & Finance Director | |
| Peter Mason, Company Secretary
| |
| finnCap | |
| Matt Goode / James Thompson | Tel +44 (0) 20 7220 0500 |
| | |
| | |
| Buchanan | |
| Charles Ryland / Victoria Hayns / Stephanie Watson / Matilda Abraham | Tel +44 (0) 20 7466 5000 |
Notes to Editors:
About Braemar Shipping Services Plc
Braemar is a leading international Shipbroker and provider of expert advice in shipping investment, chartering and risk management. Braemar employs approximately 520 people in 30 offices worldwide across its Shipbroking, Financial and Logistics divisions.
Braemar joined the Official List of the London Stock Exchange in November 1997 and trades under the symbol BMS.
For more information, including our investor presentation, visit www.braemar.com
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| James Gundy
| ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Group Chief Executive Officer
| ||||
| b)
| Initial notification /Amendment
| Initial | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a)
| Name
| Braemar Shipping Services Plc | ||||
| b)
| LEI
| 213800EV6IKTTHJ83C19 | ||||
| 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
Identification code
| Ordinary shares of 10p each
GB0000600931 | ||||
| b)
| Nature of the transaction
| Grant of deferred share award over ordinary shares of 10p each pursuant to the Company's Deferred Bonus Plan | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information - Aggregated volume - Price |
169,925 ordinary shares of 10p each Nil | ||||
| e)
| Date of the transaction
| 08/06/2021 | ||||
| f)
| Place of the transaction
| Outside of a trading venue | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Nick Stone
| ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Group COO and Finance Director
| ||||
| b)
| Initial notification /Amendment
| Initial | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a)
| Name
| Braemar Shipping Services Plc | ||||
| b)
| LEI
| 213800EV6IKTTHJ83C19 | ||||
| 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
Identification code
| Ordinary shares of 10p each
GB0000600931 | ||||
| b)
| Nature of the transaction
| Grant of deferred share award over ordinary shares of 10p each pursuant to the Company's Deferred Bonus Plan | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information - Aggregated volume - Price |
25,398 ordinary shares of 10p each Nil | ||||
| e)
| Date of the transaction | 08/06/2021 | ||||
| f) | Place of the transaction | Outside of a trading venue | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Peter Mason
| ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| General Counsel and Company Secretary
| ||||
| b)
| Initial notification /Amendment
| Initial | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a)
| Name
| Braemar Shipping Services Plc | ||||
| b)
| LEI
| 213800EV6IKTTHJ83C19 | ||||
| 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
Identification code
| Ordinary shares of 10p each
GB0000600931 | ||||
| b)
| Nature of the transaction
| Grant of deferred share award over ordinary shares of 10p each pursuant to the Company's Deferred Bonus Plan | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information - Aggregated volume - Price |
12,138 ordinary shares of 10p each Nil
| ||||
| e)
| Date of the transaction | 08/06/2021 | ||||
| f) | Place of the transaction | Outside of a trading venue | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Peter Mason
| ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| General Counsel and Company Secretary
| ||||
| b)
| Initial notification /Amendment
| Initial | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a)
| Name
| Braemar Shipping Services Plc | ||||
| b)
| LEI
| 213800EV6IKTTHJ83C19 | ||||
| 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
Identification code
| Ordinary shares of 10p each
GB0000600931 | ||||
| b)
| Nature of the transaction
| Grant of options over ordinary shares of 10p each pursuant to the Company Share Option Plan | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information - Aggregated volume - Price |
Options over 11,278 ordinary shares of 10p each N/A | ||||
| e)
| Date of the transaction | 08/06/2021 | ||||
| f) | Place of the transaction | Outside of a trading venue | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||||
| a)
| Name
| Nick Stone
| ||||||||
| 2
| Reason for the notification
| |||||||||
| a)
| Position/status
| Group COO and Finance Director
| ||||||||
| b)
| Initial notification /Amendment
| Amendment | ||||||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||
| a)
| Name
| Braemar Shipping Services Plc | ||||||||
| b)
| LEI
| 213800EV6IKTTHJ83C19 | ||||||||
| 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
Identification code
| Options over ordinary shares of 10p each
GB0000600931 | ||||||||
| b)
| Nature of the transaction
| Grant of options over ordinary shares of 10p each under SAYE Scheme | ||||||||
| c)
| Price(s) and volume(s)
|
| ||||||||
| d)
| Aggregated information - Aggregated volume - Price |
Options over 4,500 ordinary shares of 10p each N/A | ||||||||
| e)
| Date of the transaction
| 05/07/2019 | ||||||||
| f) | Place of the transaction
| Outside of a trading venue | ||||||||
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