REG - Braemar Shipping - Issue of Shares / PDMR Shareholding
20/12/2021 07:00
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RNS Number : 1096W Braemar Shipping Services PLC 20 December 2021
20 December 2021
BRAEMAR SHIPPING SERVICES PLC
("Braemar", the "Company" or the "Group")
Issue of Shares / PDMR Shareholding
Braemar (LSE: BMS), a leading international Shipbroker and provider of expert
advice in shipping investment, chartering, risk management and logistics
services, announces that application has been made for 47,605 new ordinary
shares of 10p each in the capital of Braemar ('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 6 January 2022. 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 Naves, as previously announced on 3 June 2021. The
new Ordinary Shares have been allotted in satisfaction of amounts due for
repayment to persons closely associated with Axel Siepmann and Mark
Kuchenbecker, who are Managing Directors of Braemar Naves and PDMRs of the
Company. The new Ordinary Shares were subscribed for at 225.2p 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 each of
Axel Siepmann and Mark Kuchenbecker (including those persons closely
associated with them) is as follows:
Name Title Shares % of Company's issued share capital
Axel Siepmann Managing Director of Braemar Naves 138,931(1) 0.43%
Mark Kuchenbecker Managing Director of Braemar Naves 138,931(1) 0.43%
(1) Includes 72,918 Ordinary Shares held by an entity jointly owned by Axel
Siepmann and Mark Kuchenbecker
Connected parties of Axel Siepmann and Mark Kuchenbecker continue to hold
convertible loan notes issued as consideration for the acquisition of Braemar
Naves in 2017 amounting to approximately €5.2m with a final tranche of
€0.7m due to be issued in September 2022. Further information on these
loan notes and their redemption dates can be found in the 3 June 2021
announcement, the Company's 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, the Company's issued share capital will comprise
32,200,279 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 and
Transparency Rules. The Company does not hold any shares in treasury.
For further information, contact:
Braemar Shipping Services
James Gundy, Group Chief Executive Officer Tel +44 (0) 20 3142 4100
Nick Stone, Group Chief Financial Officer
Peter Mason, Company Secretary
Investec Bank Plc
Gary Clarence / Alex Penney / Alice King Tel +44 (0) 20 7597 5970
Buchanan
Charles Ryland / Victoria Hayns / Stephanie Whitmore / Matilda Abraham Tel +44 (0) 20 7466 5000
Notes to Editors:
About Braemar Shipping Services Plc
Braemar is a leading international Shipbroker and provider of expert advice in
shipping investment, chartering, risk management and logistics services.
Braemar employs approximately 540 people in 30 offices worldwide across its
Shipbroking, Financial and Logistics 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 (http://www.braemar.com/)
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Siepmann & Cie. Verwaltungs GmbH
2 Reason for the notification
a) Position/status Person closely associated with Axel Siepmann, Managing Director of Braemar
Naves
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 Ordinary shares of 10p each
Identification code
GB0000600931
b) Nature of the transaction Issue of ordinary shares of 10p each
c) Price(s) and volume(s) Price(s) Volume(s)
225.2p 15,334
d) Aggregated information
- Aggregated volume 15,334 ordinary shares of 10p each
- Price £34,532.17
e) Date of the transaction 17 December 2021
f) Place of the transaction Outside of a trading venue
d)
Aggregated information
- Aggregated volume
- Price
15,334 ordinary shares of 10p each
£34,532.17
e)
Date of the transaction
17 December 2021
f)
Place of the transaction
Outside of a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Kesone Verwaltungsgesellschaft mbH
2 Reason for the notification
a) Position/status Person closely associated with Mark Kuchenbecker, Managing Director of Braemar
Naves
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 Ordinary shares of 10p each
Identification code
GB0000600931
b) Nature of the transaction Issue of ordinary shares of 10p each
c) Price(s) and volume(s) Price(s) Volume(s)
225.2p 15,334
d) Aggregated information
- Aggregated volume 15,334 ordinary shares of 10p each
- Price £34,532.17
e) Date of the transaction 17 December 2021
f) Place of the transaction Outside of a trading venue
d)
Aggregated information
- Aggregated volume
- Price
15,334 ordinary shares of 10p each
£34,532.17
e)
Date of the transaction
17 December 2021
f)
Place of the transaction
Outside of a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name CFC Beteiligungsgesellschaft mbH
2 Reason for the notification
a) Position/status Person closely associated with Axel Siepmann and Mark Kuchenbecker, Managing
Directors of Braemar Naves
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 Ordinary shares of 10p each
Identification code
GB0000600931
b) Nature of the transaction Issue of ordinary shares of 10p each
c) Price(s) and volume(s) Price(s) Volume(s)
225.2p 16,937
d) Aggregated information
- Aggregated volume 16,937 ordinary shares of 10p each
- Price £38,142.12
e) Date of the transaction 17 December 2021
f) Place of the transaction Outside of a trading venue
d)
Aggregated information
- Aggregated volume
- Price
16,937 ordinary shares of 10p each
£38,142.12
e)
Date of the transaction
17 December 2021
f)
Place of the transaction
Outside of a trading venue
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