REG - Braemar PLC - Issue of Shares / PDMR Shareholding

BraemarAnnouncement

22/12/2022 07:00

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RNS Number : 5939K  Braemar PLC  22 December 2022

 

22 December 2022

BRAEMAR PLC

("Braemar", the "Company" or the "Group")

Issue of Shares / PDMR Shareholding

 

Braemar, a leading international Shipbroker and provider of expert advice in
shipping investment, chartering and risk management announces that application
has been made for 37,636 new ordinary shares of 10p each in the capital of the
Company ("Ordinary Shares") to be admitted to the Official List of the UK
Listing Authority and to trading on London Stock Exchange's Main Market for
listed securities ('Admission'). It is expected Admission will become
effective and trading will commence at 8.00 a.m. on 5 January 2023.

The new Ordinary Shares will rank pari passu with the existing Ordinary Shares
of the Company.

The new Ordinary Shares have been allotted as part of the agreed rescheduling
of deferred consideration amounts owed by Braemar in relation to its
acquisition of Braemar Corporate Finance (formerly known as "Braemar NAVES"),
as previously announced on 3 June 2021. The new Ordinary Shares will be
allotted in satisfaction of amounts due for repayment to persons closely
associated with Axel Siepmann, a Managing Director of Braemar Corporate
Finance and a PDMR of the Company, and Mark Kuchenbecker, a former Managing
Director of Braemar Corporate Finance and former PDMR of the Company.  The
new Ordinary Shares were subscribed for at 315.7p per share, which was
calculated using the volume weighted average price per Ordinary Share for the
30 consecutive trading days prior to subscription.

Following this share issue, the total holding of Ordinary Shares of Axel
Siepmann (including those persons closely associated with him) is as follows:

 Name           Title                                           Shares      % of Company's issued share capital
 Axel Siepmann  Managing Director of Braemar Corporate Finance  164,444(1)  0.50%

(1)( )Includes 86,308 Ordinary Shares held by an entity jointly owned by Axel
Siepmann.

Connected parties of Axel Siepmann and the other sellers of Braemar Corporate
Finance continue to hold convertible loan notes issued as consideration for
the acquisition of Braemar Corporate Finance in 2017 amounting to
approximately €4.4m.  Further information on these loan notes and their
redemption dates can be found in the 3 June 2021 announcement, the Company's
2022 Annual Report and the original acquisition circular, each of which are
available on the Company's website.

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.

Following Admission and allotment of the shares, the Company's issued share
capital will comprise 32,636,872 Ordinary Shares, which figure may be used by
shareholders in the Company as the denominator for the calculations by which
they will determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules. The Company does not hold any
shares in treasury.

 

For further information, contact:

 Braemar Plc
 James Gundy, Group Chief Executive Officer          Tel +44 (0) 20 3142 4100
 Nick Stone, Group Chief Financial Officer

 Investec Bank Plc
 Gary Clarence / Harry Hargreaves / Alice King       Tel +44 (0) 20 7597 5970

 Cenkos Securities plc

 Ben Jeynes / Max Gould (Corporate Finance)          Tel +44 (0) 20 7397 8900

 Alex Pollen / Leif Powis (Sales)

 Buchanan
 Charles Ryland/ Stephanie Whitmore / Jack Devoy     Tel +44 (0) 20 7466 5000

 

Notes to Editors:

 

About Braemar

 

Braemar provides expert advice in shipping investment, chartering, and risk
management to enable its clients to secure sustainable returns and mitigate
risk in the volatile world of shipping.

Braemar's experienced brokers work in tandem with specialist professionals to
form teams tailored to its customers' needs, and provides 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, please
 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                                                         Siepmann & Cie. Verwaltungs GmbH

 Reason for the notification

 Position/status                                              Person closely associated with Axel Siepmann, Managing Director of Braemar

                              Corporate Finance

 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                                    Issue of ordinary shares of 10p each.

 Price(s) and volume(s)

 Price(s)    Volume(s)
                                                              315.7       12,123

 Aggregated information

 -Aggregated volume                                          12,123 ordinary shares of 10p each

 -Price                                                      £38,272.311

 Date of the transaction                                      19 December 2022

 Place of the transaction                                     Outside of a trading venue

 

 Aggregated information

 - Aggregated volume

 - Price

 12,123 ordinary shares of 10p each

 £38,272.311

 Date of the transaction

 19 December 2022

 Place of the transaction

 Outside of a trading venue

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

12,123 ordinary shares of 10p each

 

£38,272.311

 

Date of the transaction

 

19 December 2022

Place of the transaction

 

 

Outside of a trading venue

 

 

 

 Details of the person discharging managerial responsibilities / person closely
 associated

 Name                                                         CFC Beteiligungsgesellschaft mbH

 Reason for the notification

 Position/status                                              Person closely associated with Axel Siepmann, Managing Director of Braemar

                                                            Corporate Finance

 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                                    Issue of ordinary shares of 10p each.

 Price(s) and volume(s)

Price(s)    Volume(s)
                                                              315.7p      13,390

 
 Aggregated information

 - Aggregated volume                                          13,390 ordinary shares of 10p each

 - Price                                                      £42,272.23

 Date of the transaction                                      19 December 2022

 Place of the transaction                                     Outside of a trading venue

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

13,390 ordinary shares of 10p each

 

£42,272.23

 

Date of the transaction

 

19 December 2022

Place of the transaction

 

 

Outside of a trading venue

 

 

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