Director/PDMR Shareholding

RNS Number : 9531I
Braemar Shipping Services PLC
18 August 2021
 

 

 

 

18 August 2021

 

BRAEMAR SHIPPING SERVICES PLC

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

Director/PDMR Shareholding

 

Braemar Shipping Services Plc (LSE: BMS), a leading international Shipbroker and provider of expert advice in shipping investment, chartering, risk management and logistics services, announces that it was notified on 17 August 2021 that the trustee of the Braemar Employee Share Ownership Plan had approved the transfer of ordinary shares of 10p each in the Company ("Ordinary Shares") to certain employees of Braemar, including three PDMRs of the Company, as follows:

Name

Title

Ordinary shares transferred

James Gundy

Group Chief Executive Officer

20,327

Alistair Borthwick

Finance Director, Shipbroking Division

4,841

Sebastian Davenport-Thomas

Global Head of Sale & Purchase, Shipbroking Division

4,384

 

The release of the Ordinary Shares occurred on 17 August 2021 following the vesting of nil cost awards under the Company's Deferred Bonus Plan in relation to the year ended 28 February 2018 and, for Alistair Borthwick and Sebastian Davenport-Thomas, linked awards under the Company Share Option Plan.

 

In addition to the Ordinary Shares released as noted above, James Gundy's award was partly settled in cash in the amount equivalent to 18,026 shares, Alistair Borthwick's award was partly settled in cash in the amount equivalent to 4,050 shares and Sebastian Davenport-Thomas' award was partly settled in cash in the amount equivalent to 3,634 shares, being the extent needed to cover their liability to income tax and employee national insurance arising in relation to the settlement of their awards.

Following the release of these Ordinary Shares, the total holding of Ordinary Shares of each of James Gundy, 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

634,436

1.98%

Alistair Borthwick

Finance Director, Shipbroking Division

13,041

0.04%

Sebastian Davenport-Thomas

Global Head of Sale & Purchase, Shipbroking Division

137,385

0.43%

 

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.

 

For further information, contact:

Braemar Shipping Services Plc


James Gundy, Group Chief Executive Officer

Tel +44 (0) 20 3142 4100

Nick Stone, Chief Financial Officer


Peter Mason, Company Secretary


finnCap


Matt Goode/ James Thompson


Buchanan

Tel +44 (0) 20 7220 0500

Charles Ryland / Victoria Hayns / Stephanie Watson / Matilda Abraham



Tel +44 (0) 20 7466 5000

Notes to Editors:

 

About Braemar

Braemar is a leading international Shipbroker and provider of expert advice in shipping investment, chartering and risk management. Braemar employs approximately 520 people in 30 locations worldwide across its Shipbroking, Financial and Logistics 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

 

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 and cash in lieu of ordinary shares

c)

 

Price(s) and volume(s)

 

 

Price(s) 

Volume(s)

Nil

20,327

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price  

 

 

 

20,327 ordinary shares of 10p each 

 

Nil

 

e)

 

Date of the transaction  

 

17 August 2021

f)

 

Place of the transaction 

 

 

Outside of a trading venue

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Alistair Borthwick

 

2

 

Reason for the notification

 

a)

 

Position/status  

 

Finance Director, 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 

 

Settlement of linked awards under Deferred Bonus Plan and Company Share Option Plan ("CSOP") involving acquisition of ordinary shares and cash in lieu of ordinary shares.  (Prior to the PDMR being designated a PDMR, 7,685 CSOP awards with an exercise price of 275.33p were exercised and 7,410 of the resulting shares were sold at a price of 287p per share to fund the exercise price.)

c)

 

Price(s) and volume(s)

 

 

Price(s) 

Volume(s)

Nil

4,841

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price  

 

 

 

4,841 ordinary shares of 10p each 

 

Nil

 

e)

 

Date of the transaction  

 

17 August 2021

f)

 

Place of the transaction 

 

 

Outside of a trading venue

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Sebastian Davenport-Thomas

 

2

 

Reason for the notification

 

a)

 

Position/status  

 

Global Head of Sale & Purchase, 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 

 

Settlement of linked awards under Deferred Bonus Plan and Company Share Option Plan ("CSOP") involving acquisition of ordinary shares and cash in lieu of ordinary shares.  (Prior to the PDMR being designated a PDMR, 8,019 CSOP awards with an exercise price of 275.33p were exercised and 7,732 of the resulting shares were sold at a price of 287p per share to fund the exercise price.)

c)

 

Price(s) and volume(s)

 

 

Price(s) 

Volume(s)

Nil

4,384

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price  

 

 

 

4,384 ordinary shares of 10p each 

 

Nil

 

e)

 

Date of the transaction  

 

17 August 2021

f)

 

Place of the transaction 

 

Outside of a trading venue

 

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