REG - Braemar PLC - Grant of Share Incentives to PDMRs
12/12/2023 17:00
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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 / Jamie Hooper Tel +44 (0) 20 7466 5000
Investec Bank plc
Gary Clarence / Harry Hargreaves / Alice King Tel +44 (0) 20 7597 5970
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 (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: 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, 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: 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 /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: 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 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: 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 /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: 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 /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: 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.
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: 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 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: 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 /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: 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 /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: 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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