TIDMBMS
RNS Number : 5423W
Braemar PLC
12 December 2023
12 December 2023
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 PDMRs on 8 December 2023 :
PDMR Number of nil-cost options
over ordinary shares
James Gundy - Group Chief Executive
Officer 169,039
---------------------------
Tris Simmonds - Group Chief
Operations Officer 133,452
---------------------------
Grant Foley - Group Chief Financial
Officer 67,467
---------------------------
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 Earnings Per Share (" EPS ") measured over a
three-year performance period ending on 28 February 2026. 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 8 December 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 104,982
---------------------------------
Tris Simmonds - Group Chief
Operations Officer 44,484
---------------------------------
Alistair Borthwick - Group Finance
Director 8,897
---------------------------------
In all cases, there was no consideration for the grant of the
DBP awards, which will vest on 9 July 2026.
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 2023 Annual Report.
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
Buchanan
Charles Ryland / Stephanie Whitmore / Tel +44 (0) 20 7466 5000
Jamie Hooper
Investec Bank plc
Gary Clarence / Harry Hargreaves / Alice Tel +44 (0) 20 7597 5970
King
Cavendish Securities PLC
Ben Jeynes / Matt Lewis (Corporate Finance) Tel +44 (0) 20 7220 0500
Leif Powis /Dale Bellis/ Charlie Combe
(Sales & ECM)
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 /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, Ordinary shares of 10p each
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: 169,039
-------------------------------------------
Aggregated information
- Aggregated volume 169,039
- Price Nil
-------------------------------------------
Date of the transaction 8 December 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 instrument, Ordinary shares of 10p each
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: 104,982
-------------------------------------------
Aggregated information
- Aggregated volume 104,982
- Price Nil
-------------------------------------------
Date of the transaction 8 December 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: 133,452
-----------------------------------
Aggregated information
- Aggregated volume 133,452
- Price Nil
-----------------------------------
Date of the transaction 8 December 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: 44,484
-----------------------------------
Aggregated information
- Aggregated volume 44,484
- Price Nil
-----------------------------------
Date of the transaction 8 December 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 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: 8,897
-----------------------------------
Aggregated information
- Aggregated volume 8,897
- Price Nil
-----------------------------------
Date of the transaction 8 December 2023
-----------------------------------
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 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 LTIP awards of nil
cost options over ordinary shares
of 10p each.
-----------------------------------
Price(s) and volume(s) Price: Nil
Volume: 67,467
-----------------------------------
Aggregated information
- Aggregated volume 67,467
- Price Nil
-----------------------------------
Date of the transaction 8 December 2023
-----------------------------------
Place of the transaction Grant of awards occurred outside
a trading venue.
-----------------------------------
------------------------------------------------------------------------------------------
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END
DSHQLLFFXLLEFBD
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December 12, 2023 11:58 ET (16:58 GMT)
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