Director/PDMR Shareholding

RNS Number : 9517G

Braemar Shipping Services PLC

19 May 2011

 



Braemar Shipping Services plc (the "Company")

Director / PDMR Shareholding

The Company announces that, on 17 May 2011, the Company's Remuneration Committee granted awards in total over 240,727 ordinary shares of 10 pence each ("Shares") under the Company's Long Term Incentive Plan ("LTIP").  Directors of the Company received grants of Shares under the LTIP as follows:

Director	Shares granted under LTIP
A.R.W. Marsh	97,436
J.R.V. Kidwell	45,000
Q.B. Soanes	55,556
D. Petropoulos	42,735

These awards have been made at nil cost and will vest over a period of three years provided certain performance criteria have been fulfilled.  The performance conditions applied to the awards are based on the Company's earnings per share over a period of three years.

The Company also announces that on 17 May 2011, the trustee of the Employee Share Ownership Plan (the "ESOP") transferred Shares to Directors of the Company as follows:  

Director	Shares
A.R.W. Marsh	6,667
J.R.V. Kidwell	6,667
Q.B. Soanes	6,667
D. Petropoulos	6,667

These Shares were transferred out of the ESOP for nil consideration in order to satisfy the vesting of Shares granted under the LTIP, following satisfaction of the conditions of such grant.

Following the vesting referred to above the holdings of those Directors in Shares, all of which are beneficial, are set out below:

Director	Shares	% of issued share capital
A.R.W. Marsh	1,251,073	5.93
J.R.V. Kidwell	103,084	0.49
Q.B. Soanes	1,187,344	5.63
D. Petropoulos	586,525	2.78

Following the above transactions, the directors also have an interest in Shares subject to options, held and granted under the 1997 Scheme, the SAYE Scheme and the LTIP as set out below:

Director	Scheme	Date of Grant	Number of ordinary shares under option	Exercise price (p)	Date exercisable	Date of expiry
A.R.W. Marsh	SAYE	1 Feb 09	4,887	196.4	1 Feb 12	1 July 12
	LTIP	11 May 07	6,666	-	11 May 10	-
	LTIP	18 June 10	75,000	-	18 June 13	-
	LTIP	17 May 11	97,436	-	17 May 14	-
			183,989
J.R.V. Kidwell	SAYE	1 Feb 09	4,887	196.4	1 Feb 12	1 July 12
	LTIP	11 May 07	6,666	-	11 May 10	-
	LTIP	18 June 10	40,000	-	18 June 13	-
	LTIP	17 May 11	45,000	-	17 May 14	-
			96,553
Q.B. Soanes	SAYE	1 Feb 09	4,887	196.4	1 Feb 12	1 July 12
	LTIP	11 May 07	6,666	-	11 May 10	-
	LTIP	18 June 10	47,500	-	18 June 13	-
	LTIP	17 May 11	55,556	-	17 May 14	-
			114,609
D. Petropoulos	SAYE	1 Feb 09	4,887	196.4	1 Feb 12	1 July 12
	LTIP	11 May 07	6,666	-	11 May 10	-
	LTIP	18 June 10	33,644	-	18 June 13	-
	LTIP	17 May 11	42,735	-	17 May 14	-
			94,288

Following the vesting noted above the Directors noted above, Messrs Marsh, Kidwell, Soanes and Petropoulos who are all executive directors of the Company, in common with the other employees have an interest in 890,574 Shares held on behalf of the ESOP.

19 May 2011

For further information, contact:

Braemar Shipping Services plc James Kidwell (Finance Director)	Tel: [phone]
Arbuthnot Securities Limited Nick Tulloch Henry Willcocks	Tel: [phone]

 

END

 

 

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