4 July 2024
BRAEMAR PLC
("Braemar" or the "Company")
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 Persons Discharging
Managerial Responsibility ("PDMRs") on 3 July
2024:
|
PDMR
|
Number of ordinary shares over which options were
granted
|
|
James Gundy - Group Chief Executive Officer
|
159,503
|
|
Tris Simmonds - Group Chief Operations Officer
|
125,923
|
|
Grant Foley - Group Chief Financial
Officer
|
109,134
|
In all cases, there is 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 is based on the Company's growth in underlying
Earnings Per Share ("EPS") measured over a three-year performance period ending on 28
February 2027. The EPS measure will be adjusted to eliminate 50% of
the impact of changes in the USD foreign exchange rate over the
three-year performance period. Any shares acquired under such LTIP
awards are subject to a further two-year holding period.
In addition, the Company granted the
following awards over ordinary shares of 10p each under the
Company's Deferred Bonus Plan (the "DBP") on 3 July 2024 to the following
PDMRs in relation to the individuals' annual bonuses in respect of
the financial year ended 29 February 2024:
|
PDMR
|
Number of ordinary shares of 10p each over which awards were
granted
|
|
James Gundy - Group Chief Executive Officer
|
78,912
|
|
Tris Simmonds - Group Chief Operations Officer
|
37,777
|
|
Grant Foley - Group Chief Financial
Officer
|
6,347
|
In all cases, there was no
consideration for the grant of the DBP awards, which will
ordinarily vest on 3 July 2027.
James Gundy, Tris Simmonds and Grant
Foley have also been given corresponding options under the
Company Share Option Plan ("CSOP") as set out below, which
will vest on the same date as the DBP awards above. The exercise
price of the CSOP options is £2.978 per share, which is the
average of the middle market quotations on the three days
immediately preceding the grant date. The number of shares in
respect of which a DBP award will vest will be reduced to take
account of any gain in value, as at exercise, of the related CSOP
option.
|
PDMR
|
Number of ordinary shares of 10p each over which CSOP options
were granted
|
|
James Gundy - Group Chief Executive Officer
|
20,147
|
|
Tris Simmonds - Group Chief Operations Officer
|
16,510
|
|
Grant Foley - Group Chief Financial
Officer
|
6,347
|
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 and
DBP is contained in the Company's 2024
Annual Report, published on 23 May 2024.
ENDS
For
further information, contact:
|
Braemar Plc
|
|
|
James Gundy, Group
Chief Executive Officer
|
Tel +44
(0) 20 3142 4100
|
|
Grant Foley, Group
Chief Financial Officer
|
|
|
Rebecca-Joy
Wekwete, Company Secretary
|
|
|
|
|
|
Burson
Buchanan
|
|
|
Charles Ryland /
Stephanie Whitmore / Jack Devoy / Abby Gilchrist
|
Tel +44
(0) 20 7466 5000
|
|
|
|
|
Investec Bank
plc
|
|
|
Gary Clarence /
Alice King
|
Tel +44
(0) 20 7597 5970
|
|
|
|
|
Cavendish Capital Markets
Limited
Ben Jeynes / Matt
Lewis (Corporate Finance)
Leif Powis / Dale
Bellis / Charlie Combe (Sales & ECM)
|
Tel +44
(0) 20 7220 0500
|
|
|
|
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
Position/status
|
Group Chief Executive
Officer
|
|
Initial notification
/Amendment
|
Initial
|
|
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
instrument, type of instrument
|
Ordinary shares of 10p
each
|
|
Identification code
|
GB0000600931
|
|
Nature of the
transaction
|
Grant of LTIP awards as nil cost
options over ordinary shares of 10p each.
|
|
Price(s) and volume(s)
|
Price: Nil
Volume: 159,503
|
|
Aggregated information
- Aggregated volume
- Price
|
159,503
Nil
|
|
Date of the transaction
|
3 July 2024
|
|
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
instrument, type of instrument
|
Ordinary shares of 10p
each
|
|
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: 78,912
|
|
Aggregated information
- Aggregated volume
- Price
|
78,912
Nil
|
|
Date of the transaction
|
3 July 2024
|
|
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
instrument, type of instrument
|
Ordinary shares of 10p
each
|
|
Identification code
|
GB0000600931
|
|
Nature of the
transaction
|
Grant of options over ordinary shares
of 10p each with an associated exercise price per share of £2.978
pursuant to the Company Share Option Plan.
|
|
Price(s) and volume(s)
|
Price: Nil
Volume: 20,147
|
|
Aggregated information
- Aggregated volume
- Price
|
20,147
Nil
|
|
Date of the transaction
|
3 July 2024
|
|
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
Position/status
|
Group Chief Operations
Officer
|
|
Initial notification
/Amendment
|
Initial
|
|
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
instrument, type of instrument
|
Ordinary shares of 10p
each
|
|
Identification code
|
GB0000600931
|
|
Nature of the
transaction
|
Grant of LTIP awards as nil cost
options over ordinary shares of 10p each.
|
|
Price(s) and volume(s)
|
Price: Nil
Volume: 125,923
|
|
Aggregated information
- Aggregated volume
- Price
|
125,923
Nil
|
|
Date of the transaction
|
3 July 2024
|
|
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
instrument, type of instrument
|
Ordinary shares of 10p
each
|
|
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: 37,777
|
|
Aggregated information
- Aggregated volume
- Price
|
37,777
Nil
|
|
Date of the transaction
|
3 July 2024
|
|
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
instrument, type of instrument
|
Ordinary shares of 10p
each
|
|
Identification code
|
GB0000600931
|
|
Nature of the
transaction
|
Grant of options over ordinary shares
of 10p each with an associated exercise price per share of £2.978
pursuant to the Company Share Option Plan .
|
|
Price(s) and volume(s)
|
Price: Nil
Volume: 16,510
|
|
Aggregated information
- Aggregated volume
- Price
|
16,510
Nil
|
|
Date of the transaction
|
3 July 2024
|
|
Place of the
transaction
|
Grant of awards occurred outside a
trading venue.
|
|
Details of the person discharging
managerial responsibilities / person closely associated
|
|
Name
|
Grant Foley
|
|
Reason for the
notification
Position/status
|
Group Chief Financial
Officer
|
|
Initial notification
/Amendment
|
Initial
|
|
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
instrument, type of instrument
|
Ordinary shares of 10p
each
|
|
Identification code
|
GB0000600931
|
|
Nature of the
transaction
|
Grant of LTIP awards as nil cost
options over ordinary shares of 10p each.
|
|
Price(s) and volume(s)
|
Price: Nil
Volume: 109,134
|
|
Aggregated information
- Aggregated volume
- Price
|
109,134
Nil
|
|
Date of the transaction
|
3 July 2024
|
|
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
instrument, type of instrument
|
Ordinary shares of 10p
each
|
|
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: 6,347
|
|
Aggregated information
- Aggregated volume
- Price
|
6,347
Nil
|
|
Date of the transaction
|
3 July 2024
|
|
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
instrument, type of instrument
|
Ordinary shares of 10p
each
|
|
Identification code
|
GB0000600931
|
|
Nature of the
transaction
|
Grant of options over ordinary shares
of 10p each with an associated exercise price per share of £2.978
pursuant to the Company Share Option Plan.
|
|
Price(s) and volume(s)
|
Price: Nil
Volume: 6,347
|
|
Aggregated information
- Aggregated volume
- Price
|
6,347
Nil
|
|
Date of the transaction
|
3 July 2024
|
|
Place of the
transaction
|
Grant of awards occurred outside a
trading venue.
|
|