REG - Braemar Shipping - Director/PDMR Shareholding

BraemarAnnouncement

29/07/2020 13:45

RNS Number : 5070U
  
Braemar Shipping Services PLC
  
29 July 2020
  
 

 
 
 
29 July 2020
 
BRAEMAR SHIPPING SERVICES PLC
("Braemar", the "Company" or the "Group")
Director / PDMR Shareholding
 
Braemar Shipping Services Plc (LSE:BMS), a leading international provider of shipbroking, financial advisory, logistics and engineering services to the shipping and energy industries, announces that it granted awards under its Long Term Incentive Plan ("LTIP") to certain PDMRs of the Company on 24 July 2020, as follows:
James Gundy, CEO, Shipbroking Division - 218,750
Nicholas Stone, Group Finance Director & Chief Operating Officer - 156,250
Peter Mason, General Counsel & Company Secretary - 56,250
Peter Wilson, Managing Director, Logistics Division - 75,000
These awards are nil cost options to acquire ordinary shares of 10p each in the Company and will vest in three years subject to certain performance criteria based on the Company's underlying earnings per share and, for James Gundy and Peter Wilson, the underlying operating profit of the Shipbroking and Logistics Divisions respectively.  The underlying earnings per share performance criteria is to be tested on the 2022/23 financial year (the final year of the performance period for the award) and has a threshold of 30p for 25% vesting rising on a straight-line basis to 42p for 100% vesting.
Further information in relation to the LTIP is contained in the Company's 2020 Annual Report.
For further information, contact:



Braemar Shipping Services 








Ron Series, Executive Chairman


Tel +44 (0) 20 3142 4100




Nick Stone, Finance Director








Peter Mason, Company Secretary 








finnCap








Matt Goode/ James Thompson/ Kate Washington


Tel +44 (0) 20 7220 0500




Buchanan








Charles Ryland / Victoria Hayns / Stephanie Watson / Matilda Abraham 
 


Tel +44 (0) 20 7466 5000
 



Notes to Editors:
 
About Braemar Shipping Services Plc
 
Braemar Shipping Services Plc is a leading international provider of shipbroking, financial advisory, logistics and engineering services principally to the shipping and energy industries. Founded in 1972, Braemar employs approximately 530 people in 28 offices worldwide across its Shipbroking, Financial, Logistics and Engineering divisions.  
 
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
 
The notification below, made in accordance with requirements of the EU Market Abuse Regulation, provides further details.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
 



1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a)  


Name  


James Gundy




2  


Reason for the notification  




a)  


Position/status   


CEO, Shipbroking Division




b)  


Initial notification /Amendment  


Initial




3  


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  




a)  


Name   


Braemar Shipping Services Plc




b)  


LEI  


213800EV6IKTTHJ83C19




4  


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   




a)  


Description of the financial instrument, type of instrument  
Identification code   


Ordinary shares of 10p each 
 
GB0000600931




b)  


Nature of the transaction  


Grant of LTIP awards of nil cost options over ordinary shares of 10p each




c)  


Price(s) and volume(s)  





 Price(s) 


Volume(s)




 Nil


 218,750 shares








d) 
 


Aggregated information 
  - Aggregated volume 
  - Price   


 
  218,750 ordinary shares of 10p each 
  Nil 




e)  


Date of the transaction   


24 July 2020




f)  


Place of the transaction  


Outside of a trading venue



 



1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a)  


Name  


Nicholas Stone




2  


Reason for the notification  




a)  


Position/status   


Group Finance Director & Chief Operating Officer




b)  


Initial notification /Amendment  


Initial




3  


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  




a)  


Name   


Braemar Shipping Services Plc




b)  


LEI  


213800EV6IKTTHJ83C19




4  


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   




a)  


Description of the financial instrument, type of instrument  
Identification code   


Ordinary shares of 10p each 
 
GB0000600931




b)  


Nature of the transaction  


Grant of LTIP awards of nil cost options over ordinary shares of 10p each




c)  


Price(s) and volume(s)  





 Price(s) 


Volume(s)




 Nil


 156,250 shares








d) 
 


Aggregated information 
  - Aggregated volume 
  - Price   


 
  156,250 ordinary shares of 10p each 
  Nil 




e)  


Date of the transaction   


24 July 2020




f)  


Place of the transaction  


Outside of a trading venue



 



1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a)  


Name  


Peter Mason




2  


Reason for the notification  




a)  


Position/status   


General Counsel & Company Secretary




b)  


Initial notification /Amendment  


Initial




3  


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  




a)  


Name   


Braemar Shipping Services Plc




b)  


LEI  


213800EV6IKTTHJ83C19




4  


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   




a)  


Description of the financial instrument, type of instrument  
Identification code   


Ordinary shares of 10p each 
 
GB0000600931




b)  


Nature of the transaction  


Grant of LTIP awards of nil cost options over ordinary shares of 10p each




c)  


Price(s) and volume(s)  





 Price(s) 


Volume(s)




 Nil


 56,250 shares








d) 
 


Aggregated information 
  - Aggregated volume 
  - Price   


 
  56,250 ordinary shares of 10p each 
  Nil 




e)  


Date of the transaction   


24 July 2020




f)  


Place of the transaction  


Outside of a trading venue



 



1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a)  


Name  


Peter Wilson




2  


Reason for the notification  




a)  


Position/status   


Managing Director, Logistics Division




b)  


Initial notification /Amendment  


Initial




3  


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  




a)  


Name   


Braemar Shipping Services Plc




b)  


LEI  


213800EV6IKTTHJ83C19




4  


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   




a)  


Description of the financial instrument, type of instrument  
Identification code   


Ordinary shares of 10p each 
 
GB0000600931




b)  


Nature of the transaction  


Grant of LTIP awards of nil cost options over ordinary shares of 10p each




c)  


Price(s) and volume(s)  





 Price(s) 


Volume(s)




 Nil


 75,000 shares








d) 
 


Aggregated information 
  - Aggregated volume 
  - Price   


 
  75,000 ordinary shares of 10p each 
  Nil 




e)  


Date of the transaction   


24 July 2020




f)  


Place of the transaction  


Outside of a trading venue



 


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