REG - Braemar PLC - Grant of Share Incentives to PDMRs
16/02/2023 16:30
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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 78,326
Division
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 13,651
Division
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 £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 King Tel +44 (0) 20 7597 5970
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 Devoy Tel +44 (0) 20 7466 5000
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 (http://www.Braemar.com) and follow Braemar on LinkedIn
(https://www.linkedin.com/company/braemar-ltd) .
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, type of instrument Ordinary shares of 10p each
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 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: 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 /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 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 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: 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 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 pursuant to the Company
Share Option Plan.
Price(s) and volume(s) Price: £3.175
Volume: 3,412
Aggregated information
- Aggregated volume 3,412
-Price £3.175
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 /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 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 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: 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 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 pursuant to the Company
Share Option Plan.
Price(s) and volume(s) Price: £3.175
Volume: 3,412
Aggregated information
- Aggregated volume 3,412
-Price £3.175
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, Shipbroking Division
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, type of instrument Ordinary shares of 10p each
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 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: 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 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 pursuant to the Company
Share Option Plan.
Price(s) and volume(s) Price: £3.175
Volume: 3,412
Aggregated information
- Aggregated volume 3,412
-Price £3.175
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 /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 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.
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 /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 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 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: 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 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 pursuant to the Company
Share Option Plan.
Price(s) and volume(s) Price: £3.175
Volume: 3,412
Aggregated information
- Aggregated volume 3,412
- Price £3.175
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 /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 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 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: 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 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 pursuant to the Company
Share Option Plan.
Price(s) and volume(s) Price: £3.175
Volume: 3,412
Aggregated information
- Aggregated volume 3,412
- Price £3.175
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, Shipbroking Division
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, type of instrument Ordinary shares of 10p each
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 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: 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 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 pursuant to the Company
Share Option Plan.
Price(s) and volume(s) Price: £3.175
Volume: 3,412
Aggregated information
- Aggregated volume 3,412
- Price £3.175
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
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 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
- Price
1,537
Nil
Date of the transaction
16 February 2023
Place of the transaction
Grant of awards occurred outside a trading venue.
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