Grant of Share Incentives to PDMRs

Braemar PLC

12 December 2023

 

 

12 December 2023

BRAEMAR PLC

("Braemar" or the "Company")

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 8 December 2023:

PDMR	Number of nil-cost options over ordinary shares
James Gundy - Group Chief Executive Officer	169,039
Tris Simmonds - Group Chief Operations Officer	133,452
Grant Foley - Group Chief Financial Officer	67,467

In all cases, there is 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 is based on the Company's growth in Earnings Per Share ("EPS") measured over a three-year performance period ending on 28 February 2026. The EPS measure will be adjusted to eliminate 50% of the impact of changes in the USD foreign exchange rate over the three-year performance period. Any shares acquired under such LTIP awards are subject to a further two-year holding period.

In addition, the Company granted the following awards over ordinary shares of 10p each under the Company's Deferred Bonus Plan (the "DBP") on 8 December 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	104,982
Tris Simmonds - Group Chief Operations Officer	44,484
Alistair Borthwick - Group Finance Director	8,897

In all cases, there was no consideration for the grant of the DBP awards, which will vest on 9 July 2026.

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 and DBP is contained in the Company's 2023 Annual Report.

For further information, contact:

Braemar Plc
James Gundy, Group Chief Executive Officer		Tel [phone]
Grant Foley, Group Chief Financial Officer
Rebecca-Joy Wekwete, Company Secretary
Buchanan
Charles Ryland / Stephanie Whitmore / Jamie Hooper		Tel [phone]
Investec Bank plc
Gary Clarence / Harry Hargreaves / Alice King		Tel [phone]
Cavendish Securities PLC Ben Jeynes / Matt Lewis (Corporate Finance) Leif Powis /Dale Bellis/ Charlie Combe (Sales & ECM)		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: 169,039 Aggregated information  - Aggregated volume - Price   169,039 Nil Date of the transaction   8 December 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: 104,982 Aggregated information  - Aggregated volume - Price   104,982 Nil Date of the transaction   8 December 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: 133,452 Aggregated information  - Aggregated volume - Price   133,452 Nil Date of the transaction   8 December 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: 44,484 Aggregated information  - Aggregated volume - Price   44,484 Nil Date of the transaction   8 December 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 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: 8,897 Aggregated information  - Aggregated volume - Price   8,897 Nil Date of the transaction   8 December 2023 Place of the transaction  Grant of awards occurred outside a trading venue. Details of the person discharging managerial responsibilities / person closely associated Name Grant Foley 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 LTIP awards of nil cost options over ordinary shares of 10p each. Price(s) and volume(s) Price: Nil Volume: 67,467 Aggregated information  - Aggregated volume - Price   67,467 Nil Date of the transaction   8 December 2023 Place of the transaction  Grant of awards occurred outside a trading venue.

 

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