BRAEMAR PLC

Major Shareholding Notification • Dec 22, 2022

National Storage Mechanism | Additional information

RNS Number : 5939K

Braemar PLC

22 December 2022

 

22 December 2022

BRAEMAR PLC

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

Issue of Shares / PDMR Shareholding

Braemar, a leading international Shipbroker and provider of expert advice in shipping investment, chartering and risk management announces that application has been made for 37,636 new ordinary shares of 10p each in the capital of the Company ("Ordinary Shares") to be admitted to the Official List of the UK Listing Authority and to trading on London Stock Exchange's Main Market for listed securities ('Admission'). It is expected Admission will become effective and trading will commence at 8.00 a.m. on 5 January 2023.

The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.

The new Ordinary Shares have been allotted as part of the agreed rescheduling of deferred consideration amounts owed by Braemar in relation to its acquisition of Braemar Corporate Finance (formerly known as "Braemar NAVES"), as previously announced on 3 June 2021. The new Ordinary Shares will be allotted in satisfaction of amounts due for repayment to persons closely associated with Axel Siepmann, a Managing Director of Braemar Corporate Finance and a PDMR of the Company, and Mark Kuchenbecker, a former Managing Director of Braemar Corporate Finance and former PDMR of the Company.  The new Ordinary Shares were subscribed for at 315.7p per share, which was calculated using the volume weighted average price per Ordinary Share for the 30 consecutive trading days prior to subscription.

Following this share issue, the total holding of Ordinary Shares of Axel Siepmann (including those persons closely associated with him) is as follows:

Name	Title	Shares	% of Company's issued share capital
Axel Siepmann	Managing Director of Braemar Corporate Finance	164,4441	0.50%

1 Includes 86,308 Ordinary Shares held by an entity jointly owned by Axel Siepmann.

Connected parties of Axel Siepmann and the other sellers of Braemar Corporate Finance continue to hold convertible loan notes issued as consideration for the acquisition of Braemar Corporate Finance in 2017 amounting to approximately €4.4m.  Further information on these loan notes and their redemption dates can be found in the 3 June 2021 announcement, the Company's 2022 Annual Report and the original acquisition circular, each of which are available on the Company's website.

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.

Following Admission and allotment of the shares, the Company's issued share capital will comprise 32,636,872 Ordinary Shares, which figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules. The Company does not hold any shares in treasury.

For further information, contact:

Braemar 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.

Details of the person discharging managerial responsibilities / person closely associated

Name

Siepmann & Cie. Verwaltungs GmbH  

Reason for the notification

Position/status  

Person closely associated with Axel Siepmann, Managing Director of Braemar Corporate Finance

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

Identification code  

Ordinary shares of 10p each 

GB0000600931

Nature of the transaction 

Issue of ordinary shares of 10p each.

Price(s) and volume(s)

Price(s)	Volume(s)
315.7	12,123

Aggregated information

- Aggregated volume

- Price  

12,123 ordinary shares of 10p each 

£38,272.311

Date of the transaction  

19 December 2022

Place of the transaction 

Outside of a trading venue

Details of the person discharging managerial responsibilities / person closely associated

Name

CFC Beteiligungsgesellschaft mbH  

Reason for the notification

Position/status  

Person closely associated with Axel Siepmann, Managing Director of Braemar Corporate Finance

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

Identification code  

Ordinary shares of 10p each 

GB0000600931

Nature of the transaction 

Issue of ordinary shares of 10p each.

Price(s) and volume(s)

Price(s)	Volume(s)
315.7p	13,390

Aggregated information

- Aggregated volume

- Price  

13,390 ordinary shares of 10p each 

£42,272.23

Date of the transaction  

19 December 2022

Place of the transaction 

Outside of a trading venue

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