REG - Braemar PLC - Grant of Share Incentives to PDMRs
04/07/2024 17:00
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RNS Number : 2290V Braemar PLC 04 July 2024
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) 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 as nil cost options over ordinary shares of 10p each.
Price(s) and volume(s) Price: Nil
Volume: 159,503
Aggregated information
- Aggregated volume 159,503
-Price 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 78,912
-Price 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 20,147
-Price 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 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 as nil cost options over ordinary shares of 10p each.
Price(s) and volume(s) Price: Nil
Volume: 125,923
Aggregated information
- Aggregated volume 125,923
-Price 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 37,777
-Price 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 16,510
-Price 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 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 as nil cost options over ordinary shares of 10p each.
Price(s) and volume(s) Price: Nil
Volume: 109,134
Aggregated information
- Aggregated volume 109,134
-Price 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 6,347
-Price 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 6,347
-Price 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 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 as nil cost options over ordinary shares of 10p each.
Price(s) and volume(s) Price: Nil
Volume: 125,923
Aggregated information
- Aggregated volume 125,923
- Price 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 37,777
- Price 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 16,510
- Price 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 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 as nil cost options over ordinary shares of 10p each.
Price(s) and volume(s) Price: Nil
Volume: 109,134
Aggregated information
- Aggregated volume 109,134
- Price 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 6,347
- Price 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 6,347
- Price Nil
Date of the transaction 3 July 2024
Place of the transaction Grant of awards occurred outside a trading venue.
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