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Braemar Shipping (BMS)

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Friday 11 June, 2021

Braemar Shipping

Director/PDMR Shareholding

RNS Number : 7042B
Braemar Shipping Services PLC
11 June 2021
 

 

 

 

BRAEMAR   SHIPPING SERVICES PLC

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

11 June 2021

 

Director / PDMR Shareholding

Braemar Shipping Services Plc (LSE: BMS), a leading international provider of shipbroking, financial advisory and logistics services to the shipping and energy industries, announces that it has granted the following awards over ordinary shares of 10p each in the Company ("Ordinary Shares") under the Company's Deferred Bonus Plan (the "DBP") on 8 June 2021 to certain Persons Discharging Managerial Responsibilities ("PDMRs") of the Company in relation to the individuals' annual bonuses in respect of the 2020/2021 financial year:

James Gundy, CEO, Shipbroking - 169,925

Nicholas Stone, Group COO & Finance Director - 25,398

Peter Mason, General Counsel & Company Secretary - 12,138

These awards will ordinarily vest in three years from the date of grant in accordance with the rules of the DBP.

Peter Mason has also been given corresponding options under the Company Share Option Plan ("CSOP") over 11,278 Ordinary Shares each, which will vest on the same date as the DBP awards above.  The exercise price for the options is £2.66 per share, which is the average of the middle-market quotations of the Ordinary Shares over the three days immediately preceding the grant date.  The number of shares in respect of which the DBP award will vest will be reduced to take account of any gain in value, as at exercise, of the CSOP options.

Further information on the DBP and the CSOP is contained in the Company's 2020 Annual Report.

The Company also announces that an error has been identified in a Director / PDMR notification made by the Company on 8 July 2019.  The amount of options granted to Nick Stone, the Group's COO & Finance Director, under the Company's Save as you Earn scheme (the "SAYE Scheme") on 5 July 2019 was stated in error as 5,625.  The correct number was 4,500.

The notifications set out below provide further details 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


James Gundy, Group Chief Executive Officer

Tel +44 (0) 20 3142 4100

Nick Stone, Group Chief Operating Officer & Finance Director


Peter Mason, Company Secretary

 


finnCap


Matt Goode / James Thompson

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 is a leading international Shipbroker and provider of expert advice in shipping investment, chartering and risk management. Braemar employs approximately 520 people in 30 offices 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 

 

Grant of deferred share award over ordinary shares of 10p each pursuant to the Company's Deferred Bonus Plan

c)

 

Price(s) and volume(s)

 

 

 Price(s) 

Volume(s)

Nil

 

169,925

 

d)

 

Aggregated information

- Aggregated volume

 - Price  

 

169,925 ordinary shares of 10p each

Nil

e)

 

Date of the transaction  

 

08/06/2021

f)

 

Place of the transaction 

 

 

Outside of a trading venue

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Nick Stone

 

2

 

Reason for the notification

 

a)

 

Position/status  

 

Group COO and Finance Director

 

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 deferred share award over ordinary shares of 10p each pursuant to the Company's Deferred Bonus Plan

c)

 

Price(s) and volume(s)

 

 

 Price(s) 

Volume(s)

Nil

 

25,398

 

d)

 

Aggregated information

- Aggregated volume

 - Price  

 

25,398 ordinary shares of 10p each

Nil

e)

 

Date of the transaction  

08/06/2021

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 and 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 deferred share award over ordinary shares of 10p each pursuant to the Company's Deferred Bonus Plan

c)

 

Price(s) and volume(s)

 

 

 Price(s) 

Volume(s)

Nil

 

12,138

 

d)

 

Aggregated information

- Aggregated volume

 - Price  

 

12,138 ordinary shares of 10p each

Nil

 

e)

 

Date of the transaction  

08/06/2021

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 and 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 options over ordinary shares of 10p each pursuant to the Company Share Option Plan

c)

 

Price(s) and volume(s)

 

 

 Price(s) 

Volume(s)

266p

 

11,278

 

d)

 

Aggregated information

- Aggregated volume

 - Price  

 

Options over 11,278 ordinary shares of 10p each

N/A

e)

 

Date of the transaction  

08/06/2021

f) 

Place of the transaction 

Outside of a trading venue

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Nick Stone

 

2

 

Reason for the notification

 

a)

 

Position/status  

 

Group COO and Finance Director

 

b)

 

Initial notification /Amendment

 

Amendment

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  

 

Options over ordinary shares of 10p each 

 

 

GB0000600931

b)

 

Nature of the transaction 

 

Grant of options over ordinary shares of 10p each under SAYE Scheme

c)

 

Price(s) and volume(s)

 

 

Transaction 

Price(s) 

Volume(s)


SAYE option

 

160p

4,500

 

d)

 

Aggregated information

- Aggregated volume

 - Price  

 

Options over 4,500 ordinary shares of 10p each

 N/A

e)

 

Date of the transaction  

 

05/07/2019

f) 

Place of the transaction

 

Outside of a trading venue

 

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