20 December 2023
BRAEMAR PLC
("Braemar" or the "Company")
Director/PDMR Shareholding
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 the following Director/PDMR share dealing transactions:
On 18 December 2023, 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 following the vesting of share awards granted under the Company's Deferred Bonus Plan ("DBP") and the exercise of linked options granted under the Company Share Option Plan ("CSOP"), including three persons discharging managerial responsibilities ("PDMRs") of the Company, as follows:
| Director/PDMR | Number of ordinary shares released |
| James Gundy - Group Chief Executive Officer | 397,073 |
| Tris Simmonds - Group Chief Operating Officer | 34,511 |
| Alistair Borthwick - Group Finance Director | 44,043 |
The CSOP awards carried an exercise price of £1.22 per share. Following the DBP vesting and CSOP exercises, James Gundy sold 397,073 Ordinary Shares, Tris Simmonds sold 34,511 Ordinary Shares, Alistair Borthwick sold 20,486 Ordinary Shares at a price of £2.764811. On 18 December 2023, Tris Simmonds also sold 28,367 shares at a price of £2.764811.
Following the above transactions, the total holding of Ordinary Shares of each of James Gundy, Tris Simmonds and Alistair Borthwick (including those of persons closely associated with them) will be as follows:
| PDMR | Total number of Ordinary Shares |
| James Gundy - Group Chief Executive Officer | 772,165 |
| Tris Simmonds - Group Chief Operating Officer | 320,080 |
| Alistair Borthwick - Group Finance Director | 56,448 |
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 Plc |
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| James Gundy, Group Chief Executive Officer | Tel +44 (0) 20 3142 4100 |
| Grant Foley, Group Chief Financial Officer |
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| Rebecca-Joy Wekwete, Company Secretary |
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| Buchanan |
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| Charles Ryland / Stephanie Whitmore / Jamie Hooper | Tel +44 (0) 20 7466 5000 |
| Investec Bank plc |
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| Gary Clarence / Harry Hargreaves / Alice King | Tel +44 (0) 20 7597 5970 |
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| Cavendish Securities PLC Ben Jeynes / Matt Lewis (Corporate Finance) Leif Powis /Dale Bellis/ Charlie Combe (Sales & ECM) | Tel +44 (0) 20 7220 0500 |
| 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 | Sale of shares acquired from the vesting of share awards granted under the Braemar Plc Deferred Bonus Plan | | Price(s) and volume(s) | Price: £2.764811 Volume: 397,073 | | Aggregated information - Aggregated volume - Price | 397,073 £1,095,485.14 | | Date of the transaction | 18 December 2023 | | Place of the transaction | London Stock Exchange (XLON) | | 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 | Exercise of options granted under the Company Share Option Plan with an exercise price of 122p per share. | | Price(s) and volume(s) | Price: 122p Volume: 24,650 | | Aggregated information - Aggregated volume - Price | 24,650 £30,073.00 | | Date of the transaction | 18 December 2023 | | Place of the transaction | London Stock Exchange (XLON) | | 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 | Sale of shares acquired from the vesting of share awards granted under the Braemar Plc Deferred Bonus Plan | | Price(s) and volume(s) | Price: £2.764811 Volume: 34,511 | | Aggregated information - Aggregated volume - Price | 34,511 £95,081.43 | | Date of the transaction | 18 December 2023 | | Place of the transaction | London Stock Exchange (XLON) | | 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 | Sale of shares | | Price(s) and volume(s) | Price: £2.764811 Volume: 28,367 | | Aggregated information - Aggregated volume - Price | 28,367 £78,429.39 | | Date of the transaction | 18 December 2023 | | Place of the transaction | London Stock Exchange (XLON) | | 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 | Sale of shares acquired from the vesting of share awards granted under the Braemar Plc Deferred Bonus Plan | | Price(s) and volume(s) | Price: £2.764811 Volume: 20,486 | | Aggregated information - Aggregated volume - Price | 20,486 £56,440.68 | | Date of the transaction | 18 December 2023 | | Place of the transaction | London Stock Exchange (XLON) | | 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 | Exercise of options granted under the Company Share Option Plan with an exercise price of 122p per share. | | Price(s) and volume(s) | Price: 122p Volume: 6,705 | | Aggregated information - Aggregated volume - Price | 6,705 £8,180.10 | | Date of the transaction | 18 December 2023 | | Place of the transaction | London Stock Exchange (XLON) | |
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.
