Director/PDMR Shareholding

RNS Number : 3118Y

Braemar Shipping Services PLC

05 September 2022

 

 

5 September 2022

BRAEMAR SHIPPING SERVICES PLC

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

Director/PDMR Shareholding

Braemar, a leading international Shipbroker and provider of expert advice in shipping investment, chartering and risk management, has been notified that, on 2 September 2022, the trustee of the Braemar Employee Share Ownership Plan approved the release of ordinary shares of 10p each in the Company ("Ordinary Shares") to certain employees of Braemar, including four persons discharging managerial responsibilities ("PDMRs") of the Company, as follows:

Name	Title	Ordinary shares released
James Gundy	Group Chief Executive Officer	194,000
Tris Simmonds	Group Chief Operating Officer	59,109
Alistair Borthwick	Group Finance Director, Shipbroking Division	27,956
Sebastian Davenport-Thomas	Global Head of Sale & Purchase, Shipbroking Division	93,854

The release of the Ordinary Shares occurred on 2 September 2022 following the vesting of nil cost awards under the Company's Deferred Bonus Plan ("DBP") on 30 August 2022 in relation to the year ended 28 February 2019 and, for Tris Simmonds, Alistair Borthwick and Sebastian Davenport-Thomas, included the exercise of the following linked awards under the Company Share Option Plan ("CSOP"):

Name	Title	Options exercised under CSOP
Tris Simmonds	Group Chief Operating Officer	15,000
Alistair Borthwick	Group Finance Director, Shipbroking Division	340
Sebastian Davenport-Thomas	Global Head of Sale & Purchase, Shipbroking Division	3,960

The CSOP awards carried an exercise price of £2.00 per share.

Following the above DBP vesting and CSOP exercises, James Gundy sold 94,905 Ordinary Shares, Tris Simmonds sold 30,742 Ordinary Shares, Alistair Borthwick sold 13,731 Ordinary Shares and Sebastian Davenport-Thomas sold 46,411 Ordinary Shares, in each case being the amount equivalent to cover their liability to income tax and employee national insurance arising in relation to the settlement of their awards and to cover the cost of exercising the CSOP awards, and at a price of £3.29.

Following the above transactions, the total holding of Ordinary Shares of each of James Gundy, Tris Simmonds, Alistair Borthwick and Sebastian Davenport-Thomas (including those of persons closely associated with them) will be as follows:

Name	Title	Total Ordinary Shares	% of Company's issued share capital
James Gundy	Group Chief Executive Officer	756,531	2.33%
Tris Simmonds	Group Chief Operating Officer	348,447	1.07%
Alistair Borthwick	Group Finance Director, Shipbroking Division	27,266	0.08%
Sebastian Davenport-Thomas	Global Head of Sale & Purchase, Shipbroking Division	184,828	0.57%

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 DBP and the CSOP is contained in the Company's 2022 Annual Report.

For further information, contact:

Braemar Shipping Services Plc
James Gundy, Group Chief Executive Officer		Tel [phone]
Nick Stone, Group Chief Financial Officer
Investec Bank Plc
Gary Clarence / Harry Hargreaves / Alice King		Tel [phone]
Cenkos Securities plc Ben Jeynes / Max Gould (Corporate Finance) Alex Pollen / Leif Powis (Sales)		Tel [phone]
Buchanan
Charles Ryland/ Stephanie Whitmore / Jack Devoy		Tel [phone]

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  and follow Braemar on  LinkedIn .

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	James Gundy
2	Reason for the notification
a)	Position/status	Group Chief Executive 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	Settlement of award under Deferred Bonus Plan involving acquisition of ordinary shares
c)	Price(s) and volume(s)	Price(s)  Volume(s) Nil 194,000
d)	Aggregated information - Aggregated volume - Price	194,000 ordinary shares of 10p each  Nil
e)	Date of the transaction	31 August 2022
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name		Tris Simmonds
2	Reason for the notification
a)	Position/status		Group 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		Settlement of linked awards under Deferred Bonus Plan and Company Share Option Plan ("CSOP") involving acquisition of ordinary shares
c)	Price(s) and volume(s)		Price(s)  Volume(s) Nil 59,109
d)	Aggregated information - Aggregated volume - Price		59,109 ordinary shares of 10p each  Nil
e)	Date of the transaction		31 August 2022
f)	Place of the transaction		Outside of a trading venue
Details of the person discharging managerial responsibilities / person closely associated
Name		Tris Simmonds
Reason for the notification
Position/status		Group Chief Operating Officer
Initial notification /Amendment		Initial
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Name		Braemar Shipping Services 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 Identification code		Ordinary shares of 10p each  GB0000600931
Nature of the transaction		Exercise of Company Share Option Plan ("CSOP") awards with an exercise price of 200p per share.
Price(s) and volume(s)		Price(s)  Volume(s) 200p 15,000
Aggregated information - Aggregated volume - Price		15,000 ordinary shares of 10p each  £30,000
Date of the transaction		31 August 2022
Place of the transaction		Outside of a trading venue

Details of the person discharging managerial responsibilities / person closely associated
Name	Alistair Borthwick
Reason for the notification
Position/status	Group Finance Director
Initial notification /Amendment	Initial
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Name	Braemar Shipping Services 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 Identification code	Ordinary shares of 10p each  GB0000600931
Nature of the transaction	Settlement of linked awards under Deferred Bonus Plan and Company Share Option Plan ("CSOP") involving acquisition of ordinary shares
Price(s) and volume(s)	Price(s)  Volume(s) Nil 27,956
Aggregated information - Aggregated volume - Price	27,956 ordinary shares of 10p each  Nil
Date of the transaction	31 August 2022
Place of the transaction	Outside of a trading venue
Details of the person discharging managerial responsibilities / person closely associated
Name	Alistair Borthwick
Reason for the notification
Position/status	Group Finance Director
Initial notification /Amendment	Initial
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Name	Braemar Shipping Services 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 Identification code	Ordinary shares of 10p each  GB0000600931
Nature of the transaction	Exercise of Company Share Option Plan ("CSOP") awards with an exercise price of 200p per share.
Price(s) and volume(s)	Price(s)  Volume(s) 200p 340
Aggregated information - Aggregated volume - Price	340 ordinary shares of 10p each  £680
Date of the transaction	31 August 2022
Place of the transaction	Outside of a trading venue
Details of the person discharging managerial responsibilities / person closely associated
Name	Sebastian Davenport-Thomas
Reason for the notification
Position/status	Global Head of Sale & Purchase, Shipbroking Division
Initial notification /Amendment	Initial
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Name	Braemar Shipping Services 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 Identification code	Ordinary shares of 10p each  GB0000600931
Nature of the transaction	Settlement of linked awards under Deferred Bonus Plan and Company Share Option Plan ("CSOP") involving acquisition of ordinary shares
Price(s) and volume(s)	Price(s)  Volume(s) Nil 93,854
Aggregated information - Aggregated volume - Price	93,854 ordinary shares of 10p each  Nil
Date of the transaction	31 August 2022
Place of the transaction	Outside of a trading venue
Details of the person discharging managerial responsibilities / person closely associated
Name	Sebastian Davenport-Thomas
Reason for the notification
Position/status	Global Head of Sale & Purchase, Shipbroking Division
Initial notification /Amendment	Initial
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Name	Braemar Shipping Services 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 Identification code	Ordinary shares of 10p each  GB0000600931
Nature of the transaction	Exercise of Company Share Option Plan ("CSOP") awards with an exercise price of 200p per share.
Price(s) and volume(s)	Price(s)  Volume(s) 200p 3,960
Aggregated information - Aggregated volume - Price	3,960 ordinary shares of 10p each  £7,920
Date of the transaction	31 August 2022
Place of the transaction	Outside of a trading venue
1 Details of the person discharging managerial responsibilities / person closely associated a) Name James Gundy 2 Reason for the notification a) Position/status   Group Chief Executive 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  Sale of shares to settle income tax liability and national insurance in connection with vesting of shares under Deferred Bonus Plan c) Price(s) and volume(s) Price(s)  Volume(s) £3.29 94,905 d) Aggregated information - Aggregated volume - Price   94,905 ordinary shares of 10p each  £312,549  e) Date of the transaction   31 August 2022 f) Place of the transaction  London Stock Exchange 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Tris Simmonds 2 Reason for the notification a) Position/status   Group 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  Sale of shares to settle income tax liability and national insurance in connection with vesting of shares under Deferred Bonus Plan and exercise of options under Company Share Option Plan ("CSOP") c) Price(s) and volume(s) Price(s)  Volume(s) £3.29 30,742 d) Aggregated information - Aggregated volume - Price   30,742 ordinary shares of 10p each  £101,242.41  e) Date of the transaction   31 August 2022 f) Place of the transaction  London Stock Exchange Details of the person discharging managerial responsibilities / person closely associated Name Alistair Borthwick Reason for the notification Position/status   Group Finance Director  Initial notification /Amendment Initial Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor   Name   Braemar Shipping Services 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 Identification code   Ordinary shares of 10p each  GB0000600931 Nature of the transaction  Sale of shares to settle income tax liability and national insurance in connection with vesting of shares under Deferred Bonus Plan and exercise of options under Company Share Option Plan ("CSOP") Price(s) and volume(s) Price(s)  Volume(s) £3.29 13,731 Aggregated information - Aggregated volume - Price   13,731 ordinary shares of 10p each  £45,220.21 Date of the transaction   31 August 2022 Place of the transaction  London Stock Exchange Details of the person discharging managerial responsibilities / person closely associated Name Sebastian Davenport-Thomas Reason for the notification Position/status   Global Head of Sale & Purchase, Shipbroking Division  Initial notification /Amendment Initial Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor   Name   Braemar Shipping Services 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 Identification code   Ordinary shares of 10p each  GB0000600931 Nature of the transaction  Sale of shares to settle income tax liability and national insurance in connection with vesting of shares under Deferred Bonus Plan and exercise of options under Company Share Option Plan ("CSOP") Price(s) and volume(s) Price(s)  Volume(s) £3.29 46,411 Aggregated information - Aggregated volume - Price   46,411 ordinary shares of 10p each  £152,845.02 Date of the transaction   31 August 2022 Place of the transaction  London Stock Exchange

 

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