Issue of Equity

RNS Number : 5793U

Braemar Shipping Services PLC

15 May 2008

 

Braemar Shipping Services plc (the 'Company')

Issue of Equity

The Board of Braemar Shipping Services plc announced the acquisition of Steege Kingston Partnership Limited ('Steege Kingston') on the 26 February 2008. As part of the acquisition of Steege Kingston, it has been agreed by the Board to award a total of 13,644 ordinary shares in the Company to two senior employees of Steege Kingston who were not shareholders of the company, split equally between the two. 

The shares will rank pari passu with existing shares but are subject to the same terms and conditions as those of the selling shareholders, the principle condition being that they may not be sold for two years, following their issue.

Application will be made to the UK Listing Authority for the 13,644 new ordinary shares to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's market for listed securities. It is expected that admission will take place and dealings will commence in these new ordinary shares on 28 May 2008. Following this transaction there will be 20,937,442 ordinary shares in issue.   

15 May 2008

For further information, contact:

Braemar Shipping Services plc
James Kidwell	Tel [phone]
Charles Stanley Securities
Philip Davies / Carl Holmes	Tel [phone]

 

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