TIDMBMS
RNS Number : 2016Q
Braemar PLC
16 February 2023
16 February 2023
BRAEMAR PLC
("Braemar", the "Company" or the "Group")
Grant of Share Incentives to PDMRs
Braemar Plc (LSE: BMS), a leading international shipbroker and
provider of expert investment, chartering, and risk management
advice to the shipping and energy markets , announces that the
following grants of nil-cost options were made under the Braemar
Long Term Incentive Plan (the " LTIP ") over the Company's ordinary
shares of 10p to the following PDMRs on 16 February 2023:
PDMR Number of nil-cost options
over ordinary shares
James Gundy - Group Chief Executive
Officer 164,360
---------------------------
Tris Simmonds - Group Chief
Operations Officer 259,516
---------------------------
Alistair Borthwick - Group Finance
Director 28,547
---------------------------
Sebastian Davenport-Thomas -
Global Head of Sale & Purchase,
Shipbroking Division 78,326
---------------------------
In all cases, there was no consideration for the grant of the
awards and the exercise price is nil. The awards will vest in three
years' time subject to the rules of the LTIP and the performance
criteria being satisfied. The performance criteria are based on the
Company's growth in Earnings Per Share (" EPS ") measured over a
three-year performance period ending on 28 February 2025. The EPS
measure will be adjusted to eliminate 50% of the impact of changes
in the USD foreign exchange rate over the three-year period.
In addition, the Company 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 16 February
2023 to the following PDMRs in relation to the individuals' annual
bonuses in respect of the 2022/23 financial year:
PDMR Number of ordinary shares of
10p each over which awards were
granted
James Gundy - Group Chief Executive
Officer 66,484
---------------------------------
Tris Simmonds - Group Chief
Operations Officer 14,505
---------------------------------
Nick Stone - Group Chief Financial
Officer 1,537
---------------------------------
Alistair Borthwick - Group Finance
Director 40,955
---------------------------------
Sebastian Davenport-Thomas -
Global Head of Sale & Purchase,
Shipbroking Division 13,651
---------------------------------
In all cases, there was no consideration for the grant of the
DBP awards, which will vest on 30 June 2025.
Tris Simmonds, Alistair Borthwick and Sebastian Davenport-Thomas
have also been given corresponding options under the Company Share
Option Plan (" CSOP ") over 3,412 Ordinary Shares each, which will
vest on the same date as the DBP awards above. The exercise price
of the CSOP options is GBP 3.175, which is the middle market
quotation of the Ordinary Shares on 15 February 2023. 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.
The notifications set out below are provided 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.
Further information on the LTIP, DBP and CSOP is contained in
the Company's 2022 Annual Report.
For further information, contact:
Braemar Plc
Nick Stone, Chief Financial Officer Tel +44 (0) 20 3142 4100
Rebecca-Joy Wekwete, Company Secretary
Investec Bank plc
Gary Clarence / Harry Hargreaves / Alice Tel +44 (0) 20 7597 5970
King
Cenkos Securities plc Tel +44 (0) 20 7397 8900
Ben Jeynes / Max Gould (Corporate Finance)
Alex Pollen / Leif Powis (Sales)
Buchanan
Charles Ryland / Jamie Hooper / Jack Tel +44 (0) 20 7466 5000
Devoy
Notes to Editors:
About Braemar Plc
Braemar provides expert investment, chartering, and risk
management advice that enable its clients to secure sustainable
returns and mitigate risk in the volatile world of shipping and
energy. Our experienced brokers work in tandem with specialist
professionals to form teams tailored to our customers' needs, and
provide an integrated service supported by a collaborative
culture.
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 and follow Braemar on LinkedIn .
Details of the person discharging managerial responsibilities
/ person closely associated
Name James Gundy
-----------------------------------
Reason for the notification Group Chief Executive Officer
Position/status
-----------------------------------
Initial notification Initial
/Amendment
-----------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
Name Braemar Plc
-----------------------------------
LEI 213800EV6IKTTHJ83C19
-----------------------------------
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
Description of the financial Ordinary shares of 10p each
instrument, type of
instrument
-----------------------------------
Identification code GB0000600931
-----------------------------------
Nature of the transaction Grant of LTIP awards of nil
cost options over ordinary shares
of 10p each.
-----------------------------------
Price(s) and volume(s) Price: Nil
Volume: 164,360
-----------------------------------
Aggregated information
- Aggregated volume 164,360
- Price Nil
-----------------------------------
Date of the transaction 16 February 2023
-----------------------------------
Place of the transaction Grant of awards occurred outside
a trading venue.
-----------------------------------
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
Description of the financial Ordinary shares of 10p each
instrument, type of
instrument
-----------------------------------
Identification code GB0000600931
-----------------------------------
Nature of the transaction Grant of deferred share awards
over ordinary shares of 10p
each pursuant to the Company's
Deferred Bonus Plan.
-----------------------------------
Price(s) and volume(s) Price: Nil
Volume: 66,484
-----------------------------------
Aggregated information
- Aggregated volume 66,484
- Price Nil
-----------------------------------
Date of the transaction 16 February 2023
-----------------------------------
Place of the transaction Grant of awards occurred outside
a trading venue.
-----------------------------------
Details of the person discharging managerial responsibilities
/ person closely associated
Name Tris Simmonds
-----------------------------------
Reason for the notification Group Chief Operations Officer
Position/status
-----------------------------------
Initial notification Initial
/Amendment
-----------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
Name Braemar Plc
-----------------------------------
LEI 213800EV6IKTTHJ83C19
-----------------------------------
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
Description of the financial Ordinary shares of 10p each
instrument, type of
instrument
-----------------------------------
Identification code GB0000600931
-----------------------------------
Nature of the transaction Grant of LTIP awards of nil
cost options over ordinary shares
of 10p each.
-----------------------------------
Price(s) and volume(s) Price: Nil
Volume: 259,516
-----------------------------------
Aggregated information
- Aggregated volume 259,516
- Price Nil
-----------------------------------
Date of the transaction 16 February 2023
-----------------------------------
Place of the transaction Grant of awards occurred outside
a trading venue.
-----------------------------------
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
Description of the financial Ordinary shares of 10p each
instrument, type of
instrument
-----------------------------------
Identification code GB0000600931
-----------------------------------
Nature of the transaction Grant of deferred share awards
over ordinary shares of 10p
each pursuant to the Company's
Deferred Bonus Plan.
-----------------------------------
Price(s) and volume(s) Price: Nil
Volume: 14,505
-----------------------------------
Aggregated information
- Aggregated volume 14,505
- Price Nil
-----------------------------------
Date of the transaction 16 February 2023
-----------------------------------
Place of the transaction Grant of awards occurred outside
a trading venue.
-----------------------------------
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
Description of the financial Ordinary shares of 10p each
instrument, type of
instrument
-----------------------------------
Identification code GB0000600931
-----------------------------------
Nature of the transaction Grant of options over ordinary
shares of 10p each pursuant
to the Company Share Option
Plan.
-----------------------------------
Price(s) and volume(s) Price: GBP3.175
Volume: 3,412
-----------------------------------
Aggregated information
- Aggregated volume 3,412
- Price GBP3.175
-----------------------------------
Date of the transaction 16 February 2023
-----------------------------------
Place of the transaction Grant of awards occurred outside
a trading venue.
-----------------------------------
Details of the person discharging managerial responsibilities
/ person closely associated
Name Alistair Borthwick
-----------------------------------
Reason for the notification Group Finance Director
Position/status
-----------------------------------
Initial notification Initial
/Amendment
-----------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
Name Braemar Plc
-----------------------------------
LEI 213800EV6IKTTHJ83C19
-----------------------------------
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
Description of the financial Ordinary shares of 10p each
instrument, type of
instrument
-----------------------------------
Identification code GB0000600931
-----------------------------------
Nature of the transaction Grant of LTIP awards of nil
cost options over ordinary shares
of 10p each.
-----------------------------------
Price(s) and volume(s) Price: Nil
Volume: 28,547
-----------------------------------
Aggregated information
- Aggregated volume 28,547
- Price Nil
-----------------------------------
Date of the transaction 16 February 2023
-----------------------------------
Place of the transaction Grant of awards occurred outside
a trading venue.
-----------------------------------
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
Description of the financial Ordinary shares of 10p each
instrument, type of
instrument
-----------------------------------
Identification code GB0000600931
-----------------------------------
Nature of the transaction Grant of deferred share awards
over ordinary shares of 10p
each pursuant to the Company's
Deferred Bonus Plan.
-----------------------------------
Price(s) and volume(s) Price: Nil
Volume: 40,955
-----------------------------------
Aggregated information
- Aggregated volume 40,955
- Price Nil
-----------------------------------
Date of the transaction 16 February 2023
-----------------------------------
Place of the transaction Grant of awards occurred outside
a trading venue.
-----------------------------------
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
Description of the financial Ordinary shares of 10p each
instrument, type of
instrument
-----------------------------------
Identification code GB0000600931
-----------------------------------
Nature of the transaction Grant of options over ordinary
shares of 10p each pursuant
to the Company Share Option
Plan.
-----------------------------------
Price(s) and volume(s) Price: GBP3.175
Volume: 3,412
-----------------------------------
Aggregated information
- Aggregated volume 3,412
- Price GBP3.175
-----------------------------------
Date of the transaction 16 February 2023
-----------------------------------
Place of the transaction Grant of awards occurred outside
a trading venue.
-----------------------------------
Details of the person discharging managerial responsibilities
/ person closely associated
Name Sebastian Davenport-Thomas
-----------------------------------
Reason for the notification Global Head of Sale & Purchase,
Position/status Shipbroking Division
-----------------------------------
Initial notification Initial
/Amendment
-----------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
Name Braemar Plc
-----------------------------------
LEI 213800EV6IKTTHJ83C19
-----------------------------------
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
Description of the financial Ordinary shares of 10p each
instrument, type of
instrument
-----------------------------------
Identification code GB0000600931
-----------------------------------
Nature of the transaction Grant of LTIP awards of nil
cost options over ordinary shares
of 10p each.
-----------------------------------
Price(s) and volume(s) Price: Nil
Volume: 78,326
-----------------------------------
Aggregated information
- Aggregated volume 78,326
- Price Nil
-----------------------------------
Date of the transaction 16 February 2023
-----------------------------------
Place of the transaction Grant of awards occurred outside
a trading venue.
-----------------------------------
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
Description of the financial Ordinary shares of 10p each
instrument, type of
instrument
-----------------------------------
Identification code GB0000600931
-----------------------------------
Nature of the transaction Grant of deferred share awards
over ordinary shares of 10p
each pursuant to the Company's
Deferred Bonus Plan.
-----------------------------------
Price(s) and volume(s) Price: Nil
Volume: 13,651
-----------------------------------
Aggregated information
- Aggregated volume 13,651
- Price Nil
-----------------------------------
Date of the transaction 16 February 2023
-----------------------------------
Place of the transaction Grant of awards occurred outside
a trading venue.
-----------------------------------
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
Description of the financial Ordinary shares of 10p each
instrument, type of
instrument
-----------------------------------
Identification code GB0000600931
-----------------------------------
Nature of the transaction Grant of options over ordinary
shares of 10p each pursuant
to the Company Share Option
Plan.
-----------------------------------
Price(s) and volume(s) Price: GBP3.175
Volume: 3,412
-----------------------------------
Aggregated information
- Aggregated volume 3,412
- Price GBP3.175
-----------------------------------
Date of the transaction 16 February 2023
-----------------------------------
Place of the transaction Grant of awards occurred outside
a trading venue.
-----------------------------------
------------------------------------------------------------------------
Details of the person discharging managerial responsibilities
/ person closely associated
Name Nick Stone
------------------------------------
Reason for the notification Group Chief Financial Officer
Position/status
------------------------------------
Initial notification Initial
/Amendment
------------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
Name Braemar Plc
------------------------------------
LEI 213800EV6IKTTHJ83C19
------------------------------------
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
Description of the financial Ordinary shares of 10p each
instrument, type of
instrument
------------------------------------
Identification code GB0000600931
------------------------------------
Nature of the transaction Grant of deferred share awards
over ordinary shares of 10p
each pursuant to the Company's
Deferred Bonus Plan.
------------------------------------
Price(s) and volume(s) Price: Nil
Volume: 1,537
------------------------------------
Aggregated information
- Aggregated volume 1,537
- Price Nil
------------------------------------
Date of the transaction 16 February 2023
------------------------------------
Place of the transaction Grant of awards occurred outside
a trading venue.
------------------------------------
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END
DSHQQLFFXLLFBBL
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February 16, 2023 11:16 ET (16:16 GMT)
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