RNS Number : 5423W
Braemar PLC
12 December 2023
 

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12 December 2023

BRAEMAR PLC

("Braemar" or the "Company")

Grant of Share Incentives to PDMRs

 

Braemar Plc (LSE: BMS), a leading international shipbroker and provider of expert investment, chartering, and risk management advice to the shipping and energy markets, announces that the following grants of nil-cost options were made under the Braemar Long Term Incentive Plan (the "LTIP") over the Company's ordinary shares of 10p to the following PDMRs on 8 December 2023:

PDMR

Number of nil-cost options over ordinary shares

James Gundy - Group Chief Executive Officer

169,039

Tris Simmonds - Group Chief Operations Officer

133,452

Grant Foley - Group Chief Financial Officer

67,467

 

In all cases, there is no consideration for the grant of the awards and the exercise price is nil. The awards will vest in three years' time subject to the rules of the LTIP and the performance criteria being satisfied. The performance criteria is based on the Company's growth in Earnings Per Share ("EPS") measured over a three-year performance period ending on 28 February 2026. The EPS measure will be adjusted to eliminate 50% of the impact of changes in the USD foreign exchange rate over the three-year performance period. Any shares acquired under such LTIP awards are subject to a further two-year holding period.

 

In addition, the Company granted the following awards over ordinary shares of 10p each under the Company's Deferred Bonus Plan (the "DBP") on 8 December 2023 to the following PDMRs in relation to the individuals' annual bonuses in respect of the 2022/23 financial year:

 

PDMR

Number of ordinary shares of 10p each over which awards were granted

James Gundy - Group Chief Executive Officer

104,982

Tris Simmonds - Group Chief Operations Officer

44,484

Alistair Borthwick - Group Finance Director

8,897

In all cases, there was no consideration for the grant of the DBP awards, which will vest on 9 July 2026.

 

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 LTIP and DBP is contained in the Company's 2023 Annual Report.

For further information, contact:

Braemar Plc



James Gundy, Group Chief Executive Officer

Tel +44 (0) 20 3142 4100

Grant Foley, Group Chief Financial Officer


Rebecca-Joy Wekwete, Company Secretary



Buchanan


Charles Ryland / Stephanie Whitmore / Jamie Hooper

Tel +44 (0) 20 7466 5000



Investec Bank plc


Gary Clarence / Harry Hargreaves / Alice King

Tel +44 (0) 20 7597 5970



Cavendish Securities PLC

Ben Jeynes / Matt Lewis (Corporate Finance)

Leif Powis /Dale Bellis/ Charlie Combe (Sales & ECM)

 

Tel +44 (0) 20 7220 0500

 

Notes to Editors:

 

About Braemar Plc

Braemar provides expert investment, chartering, and risk management advice that enable its clients to secure sustainable returns and mitigate risk in the volatile world of shipping and energy. Our experienced brokers work in tandem with specialist professionals to form teams tailored to our customers' needs, and provide 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, visit www.Braemar.com and follow Braemar on LinkedIn.

 

Details of the person discharging managerial responsibilities / person closely associated

Name

James Gundy

Reason for the notification

Position/status  

Group Chief Executive Officer

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

Ordinary shares of 10p each 

Identification code  

GB0000600931

Nature of the transaction 

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

Price(s) and volume(s)

Price: Nil

Volume: 169,039

Aggregated information

 - Aggregated volume

- Price  

 

169,039

Nil

Date of the transaction  

8 December 2023

Place of the transaction 

Grant of awards occurred outside a trading venue.

 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

Ordinary shares of 10p each 

Identification code  

GB0000600931

Nature of the transaction 

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

Price(s) and volume(s)

Price: Nil

Volume: 104,982

Aggregated information

 - Aggregated volume

- Price  

 

104,982

Nil

Date of the transaction  

8 December 2023

Place of the transaction 

Grant of awards occurred outside a trading venue.

 

Details of the person discharging managerial responsibilities / person closely associated

Name

Tris Simmonds

Reason for the notification

Position/status  

Group Chief Operations Officer

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

Ordinary shares of 10p each 

Identification code  

GB0000600931

Nature of the transaction 

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

Price(s) and volume(s)

 

Price: Nil

Volume: 133,452

Aggregated information

 - Aggregated volume

- Price  

 

133,452

Nil

Date of the transaction  

8 December 2023

Place of the transaction 

Grant of awards occurred outside a trading venue.

 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

Ordinary shares of 10p each 

Identification code  

GB0000600931

Nature of the transaction 

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

Price(s) and volume(s)

Price: Nil

Volume: 44,484

Aggregated information

 - Aggregated volume

- Price  

 

44,484

Nil

Date of the transaction  

8 December 2023

Place of the transaction 

Grant of awards occurred outside 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 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

Ordinary shares of 10p each 

Identification code  

GB0000600931

Nature of the transaction 

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

Price(s) and volume(s)

Price: Nil

Volume: 8,897

Aggregated information

 - Aggregated volume

- Price  

 

8,897

Nil

Date of the transaction  

8 December 2023

Place of the transaction 

Grant of awards occurred outside a trading venue.

Details of the person discharging managerial responsibilities / person closely associated

Name

Grant Foley

Reason for the notification

Position/status  

Group Chief Financial Officer 

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

Ordinary shares of 10p each 

Identification code  

GB0000600931

Nature of the transaction 

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

Price(s) and volume(s)

Price: Nil

Volume: 67,467

Aggregated information

 - Aggregated volume

- Price  

 

67,467

Nil

Date of the transaction  

8 December 2023

Place of the transaction 

Grant of awards occurred outside a trading venue.

 

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