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BRAEMAR PLC
Director's Dealing • Sep 5, 2022
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Director's Dealing
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National Storage Mechanism | Additional information 
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 +44 (0) 20 3142 4100 | |
| Nick Stone, Group Chief Financial Officer | ||
| Investec Bank Plc | ||
| Gary Clarence / Harry Hargreaves / Alice King | Tel +44 (0) 20 7597 5970 | |
| Cenkos Securities plc Ben Jeynes / Max Gould (Corporate Finance) Alex Pollen / Leif Powis (Sales) |
Tel +44 (0) 20 7397 8900 | |
| Buchanan | ||
| Charles Ryland/ Stephanie Whitmore / Jack Devoy | Tel +44 (0) 20 7466 5000 | |
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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