Grant of Share Incentives to PDMRs

RNS Number : 2016Q

Braemar PLC

16 February 2023

 

 

16 February 2023

BRAEMAR PLC

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

Grant of Share Incentives to PDMRs

Braemar Plc (LSE: BMS), a leading international shipbroker and provider of expert investment, chartering, and risk management advice to the shipping and energy markets , announces that the following grants of nil-cost options were made under the Braemar Long Term Incentive Plan (the "LTIP") over the Company's ordinary shares of 10p to the following PDMRs on 16 February 2023:

PDMR	Number of nil-cost options over ordinary shares
James Gundy - Group Chief Executive Officer	164,360
Tris Simmonds - Group Chief Operations Officer	259,516
Alistair Borthwick - Group Finance Director	28,547
Sebastian Davenport-Thomas - Global Head of Sale & Purchase, Shipbroking Division	78,326

In all cases, there was no consideration for the grant of the awards and the exercise price is nil. The awards will vest in three years' time subject to the rules of the LTIP and the performance criteria being satisfied. The performance criteria are based on the Company's growth in Earnings Per Share ("EPS") measured over a three-year performance period ending on 28 February 2025. The EPS measure will be adjusted to eliminate 50% of the impact of changes in the USD foreign exchange rate over the three-year period.

In addition, the Company granted the following awards over ordinary shares of 10p each in the Company ("Ordinary Shares") under the Company's Deferred Bonus Plan (the "DBP") on 16 February  2023 to the following PDMRs in relation to the individuals' annual bonuses in respect of the 2022/23 financial year:

PDMR	Number of ordinary shares of 10p each over which awards were granted
James Gundy - Group Chief Executive Officer	66,484
Tris Simmonds - Group Chief Operations Officer	14,505
Nick Stone - Group Chief Financial Officer	1,537
Alistair Borthwick - Group Finance Director	40,955
Sebastian Davenport-Thomas - Global Head of Sale & Purchase, Shipbroking Division	13,651

In all cases, there was no consideration for the grant of the DBP awards, which will vest on 30 June 2025.

Tris Simmonds, Alistair Borthwick and Sebastian Davenport-Thomas have also been given corresponding options under the Company Share Option Plan ("CSOP") over 3,412Ordinary Shares each, which will vest on the same date as the DBP awards above. The exercise price of the CSOP options is£3.175, which is the middle market quotation of the Ordinary Shares on 15 February 2023. The number of shares in respect of which the DBP award will vest will be reduced to take account of any gain in value, as at exercise, of the CSOP options.

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

For further information, contact:

Braemar Plc
Nick Stone, Chief Financial Officer		Tel [phone]
Rebecca-Joy Wekwete, Company Secretary
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 / Jamie Hooper / Jack Devoy		Tel [phone]

Notes to Editors:

About Braemar Plc

Braemar provides expert investment, chartering, and risk management advice that enable its clients to secure sustainable returns and mitigate risk in the volatile world of shipping and energy. Our experienced brokers work in tandem with specialist professionals to form teams tailored to our customers' needs, and provide 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, visit www.Braemar.com and follow Braemar on LinkedIn .

Details of the person discharging managerial responsibilities / person closely associated Name James Gundy Reason for the notification Position/status   Group Chief Executive Officer 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  Grant of LTIP awards of nil cost options over ordinary shares of 10p each. Price(s) and volume(s) Price: Nil Volume: 164,360 Aggregated information  - Aggregated volume - Price   164,360 Nil Date of the transaction   16 February 2023 Place of the transaction  Grant of awards occurred outside a trading venue.  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  Grant of deferred share awards over ordinary shares of 10p each pursuant to the Company's Deferred Bonus Plan. Price(s) and volume(s) Price: Nil Volume: 66,484 Aggregated information  - Aggregated volume - Price   66,484 Nil Date of the transaction   16 February 2023 Place of the transaction  Grant of awards occurred outside a trading venue. Details of the person discharging managerial responsibilities / person closely associated Name Tris Simmonds Reason for the notification Position/status   Group Chief Operations Officer 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  Grant of LTIP awards of nil cost options over ordinary shares of 10p each. Price(s) and volume(s) Price: Nil Volume: 259,516 Aggregated information  - Aggregated volume - Price   259,516 Nil Date of the transaction   16 February 2023 Place of the transaction  Grant of awards occurred outside a trading venue.  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  Grant of deferred share awards over ordinary shares of 10p each pursuant to the Company's Deferred Bonus Plan. Price(s) and volume(s) Price: Nil Volume: 14,505 Aggregated information  - Aggregated volume - Price   14,505 Nil Date of the transaction   16 February 2023 Place of the transaction  Grant of awards occurred outside a trading venue.  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  Grant of options over ordinary shares of 10p each pursuant to the Company Share Option Plan. Price(s) and volume(s) Price: £3.175 Volume: 3,412 Aggregated information  - Aggregated volume - Price   3,412 £3.175 Date of the transaction   16 February 2023 Place of the transaction  Grant of awards occurred outside 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 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  Grant of LTIP awards of nil cost options over ordinary shares of 10p each. Price(s) and volume(s) Price: Nil Volume: 28,547 Aggregated information  - Aggregated volume - Price   28,547 Nil Date of the transaction   16 February 2023 Place of the transaction  Grant of awards occurred outside a trading venue. 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  Grant of deferred share awards over ordinary shares of 10p each pursuant to the Company's Deferred Bonus Plan. Price(s) and volume(s) Price: Nil Volume: 40,955 Aggregated information  - Aggregated volume - Price   40,955 Nil Date of the transaction   16 February 2023 Place of the transaction  Grant of awards occurred outside a trading venue.  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  Grant of options over ordinary shares of 10p each pursuant to the Company Share Option Plan. Price(s) and volume(s) Price: £3.175 Volume: 3,412 Aggregated information  - Aggregated volume - Price   3,412 £3.175 Date of the transaction   16 February 2023 Place of the transaction  Grant of awards occurred outside 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 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  Grant of LTIP awards of nil cost options over ordinary shares of 10p each. Price(s) and volume(s) Price: Nil Volume: 78,326 Aggregated information  - Aggregated volume - Price   78,326 Nil Date of the transaction   16 February 2023 Place of the transaction  Grant of awards occurred outside a trading venue.  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  Grant of deferred share awards over ordinary shares of 10p each pursuant to the Company's Deferred Bonus Plan. Price(s) and volume(s) Price: Nil Volume: 13,651 Aggregated information  - Aggregated volume - Price   13,651 Nil Date of the transaction   16 February 2023 Place of the transaction  Grant of awards occurred outside a trading venue.  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  Grant of options over ordinary shares of 10p each pursuant to the Company Share Option Plan. Price(s) and volume(s) Price: £3.175 Volume: 3,412 Aggregated information  - Aggregated volume - Price   3,412 £3.175 Date of the transaction   16 February 2023 Place of the transaction  Grant of awards occurred outside a trading venue.
Details of the person discharging managerial responsibilities / person closely associated
Name	Nick Stone
Reason for the notification Position/status	Group Chief Financial Officer
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	Grant of deferred share awards over ordinary shares of 10p each pursuant to the Company's Deferred Bonus Plan.
Price(s) and volume(s)	Price: Nil Volume: 1,537
Aggregated information  - Aggregated volume - Price	1,537 Nil
Date of the transaction	16 February 2023
Place of the transaction	Grant of awards occurred outside a trading venue.

 

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