BRAEMAR PLC

Director's Dealing • Jul 29, 2020

National Storage Mechanism | Additional information

RNS Number : 5070U

Braemar Shipping Services PLC

29 July 2020

29 July 2020

BRAEMAR SHIPPING SERVICES PLC

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

Director / PDMR Shareholding

Braemar Shipping Services Plc (LSE:BMS), a leading international provider of shipbroking, financial advisory, logistics and engineering services to the shipping and energy industries, announces that it granted awards under its Long Term Incentive Plan ("LTIP") to certain PDMRs of the Company on 24 July 2020, as follows:

James Gundy, CEO, Shipbroking Division - 218,750

Nicholas Stone, Group Finance Director & Chief Operating Officer - 156,250

Peter Mason, General Counsel & Company Secretary - 56,250

Peter Wilson, Managing Director, Logistics Division - 75,000

These awards are nil cost options to acquire ordinary shares of 10p each in the Company and will vest in three years subject to certain performance criteria based on the Company's underlying earnings per share and, for James Gundy and Peter Wilson, the underlying operating profit of the Shipbroking and Logistics Divisions respectively.  The underlying earnings per share performance criteria is to be tested on the 2022/23 financial year (the final year of the performance period for the award) and has a threshold of 30p for 25% vesting rising on a straight-line basis to 42p for 100% vesting.

Further information in relation to the LTIP is contained in the Company's 2020 Annual Report.

For further information, contact:

Braemar Shipping Services
Ron Series, Executive Chairman	Tel +44 (0) 20 3142 4100
Nick Stone, Finance Director
Peter Mason, Company Secretary
finnCap
Matt Goode/ James Thompson/ Kate Washington	Tel +44 (0) 20 7220 0500
Buchanan
Charles Ryland / Victoria Hayns / Stephanie Watson / Matilda Abraham	Tel +44 (0) 20 7466 5000

Notes to Editors:

About Braemar Shipping Services Plc

Braemar Shipping Services Plc is a leading international provider of shipbroking, financial advisory, logistics and engineering services principally to the shipping and energy industries. Founded in 1972, Braemar employs approximately 530 people in 28 offices worldwide across its Shipbroking, Financial, Logistics and Engineering divisions.  

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

The notification below, made in accordance with requirements of the EU Market Abuse Regulation, provides further details.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1

Details of the person discharging managerial responsibilities / person closely associated

a)  

Name  

James Gundy

2  

Reason for the notification  

a)  

Position/status   

CEO, Shipbroking Division

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  

Grant of LTIP awards of nil cost options over ordinary shares of 10p each

c)  

Price(s) and volume(s)  

Price(s)	Volume(s)
Nil	218,750 shares

d)

Aggregated information

- Aggregated volume

- Price   

218,750 ordinary shares of 10p each 

Nil 

e)  

Date of the transaction   

24 July 2020

f)  

Place of the transaction  

Outside of a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)  

Name  

Nicholas Stone

2  

Reason for the notification  

a)  

Position/status   

Group Finance Director & 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  

Grant of LTIP awards of nil cost options over ordinary shares of 10p each

c)  

Price(s) and volume(s)  

Price(s)	Volume(s)
Nil	156,250 shares

d)

Aggregated information

- Aggregated volume

- Price   

156,250 ordinary shares of 10p each 

Nil 

e)  

Date of the transaction   

24 July 2020

f)  

Place of the transaction  

Outside of a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)  

Name  

Peter Mason

2  

Reason for the notification  

a)  

Position/status   

General Counsel & Company Secretary

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  

Grant of LTIP awards of nil cost options over ordinary shares of 10p each

c)  

Price(s) and volume(s)  

Price(s)	Volume(s)
Nil	56,250 shares

d)

Aggregated information

- Aggregated volume

- Price   

56,250 ordinary shares of 10p each 

Nil 

e)  

Date of the transaction   

24 July 2020

f)  

Place of the transaction  

Outside of a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)  

Name  

Peter Wilson

2  

Reason for the notification  

a)  

Position/status   

Managing Director, Logistics Division

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  

Grant of LTIP awards of nil cost options over ordinary shares of 10p each

c)  

Price(s) and volume(s)  

Price(s)	Volume(s)
Nil	75,000 shares

d)

Aggregated information

- Aggregated volume

- Price   

75,000 ordinary shares of 10p each 

Nil 

e)  

Date of the transaction   

24 July 2020

f)  

Place of the transaction  

Outside of a trading venue

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