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Pin to quick picksBraemar Shipping Regulatory News (BMS)

Braemar Shipping Information

Share Price Information for Braemar Shipping (BMS)

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Share Price: 280.00
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Director/PDMR Shareholding

5 Sep 2022 14:45

RNS Number : 3118Y
Braemar Shipping Services PLC
05 September 2022
 

 

5 September 2022

BRAEMAR SHIPPING SERVICES PLC

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

Director/PDMR Shareholding

 

Braemar, a leading international Shipbroker and provider of expert advice in shipping investment, chartering and risk management, has been notified that, on 2 September 2022, 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, including four persons discharging managerial responsibilities ("PDMRs") of the Company, as follows:

Name

Title

Ordinary shares released

James Gundy

Group Chief Executive Officer

194,000

Tris Simmonds

Group Chief Operating Officer

59,109

Alistair Borthwick

Group Finance Director, Shipbroking Division

27,956

Sebastian Davenport-Thomas

Global Head of Sale & Purchase, Shipbroking Division

93,854

 

The release of the Ordinary Shares occurred on 2 September 2022 following the vesting of nil cost awards under the Company's Deferred Bonus Plan ("DBP") on 30 August 2022 in relation to the year ended 28 February 2019 and, for Tris Simmonds, Alistair Borthwick and Sebastian Davenport-Thomas, included the exercise of the following linked awards under the Company Share Option Plan ("CSOP"):

 

Name

Title

Options exercised under CSOP

Tris Simmonds

Group Chief Operating Officer

15,000

Alistair Borthwick

Group Finance Director, Shipbroking Division

340

Sebastian Davenport-Thomas

Global Head of Sale & Purchase, Shipbroking Division

3,960

 

The CSOP awards carried an exercise price of £2.00 per share.

 

Following the above DBP vesting and CSOP exercises, James Gundy sold 94,905 Ordinary Shares, Tris Simmonds sold 30,742 Ordinary Shares, Alistair Borthwick sold 13,731 Ordinary Shares and Sebastian Davenport-Thomas sold 46,411 Ordinary Shares, in each case being the amount equivalent to cover their liability to income tax and employee national insurance arising in relation to the settlement of their awards and to cover the cost of exercising the CSOP awards, and at a price of £3.29.

 

 

Following the above transactions, the total holding of Ordinary Shares of each of James Gundy, Tris Simmonds, 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

756,531

2.33%

Tris Simmonds

Group Chief Operating Officer

348,447

1.07%

Alistair Borthwick

Group Finance Director, Shipbroking Division

27,266

0.08%

Sebastian Davenport-Thomas

Global Head of Sale & Purchase, Shipbroking Division

184,828

0.57%

 

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 DBP and the CSOP is contained in the Company's 2022 Annual Report.

 

 

For further information, contact:

Braemar Shipping Services 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.

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

c)

 

Price(s) and volume(s)

 

 

Price(s) 

Volume(s)

Nil

194,000

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

194,000 ordinary shares of 10p each 

Nil

 

e)

 

Date of the transaction

 

31 August 2022

f)

 

Place of the transaction 

 

 

Outside of a trading venue

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Tris Simmonds

 

2

 

Reason for the notification

 

a)

 

Position/status

 

Group Chief Operating 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 linked awards under Deferred Bonus Plan and Company Share Option Plan ("CSOP") involving acquisition of ordinary shares

c)

 

Price(s) and volume(s)

 

 

Price(s) 

Volume(s)

Nil

59,109

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

59,109 ordinary shares of 10p each 

Nil

 

e)

 

Date of the transaction

 

31 August 2022

f)

 

Place of the transaction 

 

 

Outside of a trading venue

Details of the person discharging managerial responsibilities / person closely associated

 

 

Name

 

Tris Simmonds

 

 

Reason for the notification

 

 

Position/status

 

Group Chief Operating Officer

 

Initial notification /Amendment

 

Initial

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 

 

Name

 

Braemar Shipping Services 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 

 

Exercise of Company Share Option Plan ("CSOP") awards with an exercise price of 200p per share.

 

Price(s) and volume(s)

 

 

Price(s) 

Volume(s)

200p

15,000

 

Aggregated information

- Aggregated volume

- Price

 

 

15,000 ordinary shares of 10p each 

£30,000

 

 

Date of the transaction

 

31 August 2022

 

Place of the transaction 

 

 

Outside of 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 Shipping Services 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 

 

Settlement of linked awards under Deferred Bonus Plan and Company Share Option Plan ("CSOP") involving acquisition of ordinary shares

Price(s) and volume(s)

 

 

Price(s) 

Volume(s)

Nil

27,956

Aggregated information

- Aggregated volume

- Price

 

 

27,956 ordinary shares of 10p each 

Nil

 

Date of the transaction

 

31 August 2022

Place of the transaction 

 

 

Outside of 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 Shipping Services 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 

 

Exercise of Company Share Option Plan ("CSOP") awards with an exercise price of 200p per share.

Price(s) and volume(s)

 

 

Price(s) 

Volume(s)

200p

340

Aggregated information

- Aggregated volume

- Price

 

 

340 ordinary shares of 10p each 

£680

 

Date of the transaction

 

31 August 2022

Place of the transaction 

 

 

Outside of a trading venue

 

 

Details of the person discharging managerial responsibilities / person closely associated

 

Name

 

Sebastian Davenport-Thomas

 

Reason for the notification

 

Position/status

 

Global Head of Sale & Purchase, Shipbroking Division 

Initial notification /Amendment

 

Initial

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 

Name

 

Braemar Shipping Services 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 

 

Settlement of linked awards under Deferred Bonus Plan and Company Share Option Plan ("CSOP") involving acquisition of ordinary shares

Price(s) and volume(s)

 

 

Price(s) 

Volume(s)

Nil

93,854

Aggregated information

- Aggregated volume

- Price

 

 

93,854 ordinary shares of 10p each 

Nil

 

Date of the transaction

 

31 August 2022

Place of the transaction 

 

 

Outside of a trading venue

 

Details of the person discharging managerial responsibilities / person closely associated

 

Name

 

Sebastian Davenport-Thomas

 

Reason for the notification

 

Position/status

 

Global Head of Sale & Purchase, Shipbroking Division 

Initial notification /Amendment

 

Initial

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 

Name

 

Braemar Shipping Services 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 

 

Exercise of Company Share Option Plan ("CSOP") awards with an exercise price of 200p per share.

Price(s) and volume(s)

 

 

Price(s) 

Volume(s)

200p

3,960

Aggregated information

- Aggregated volume

- Price

 

 

3,960 ordinary shares of 10p each 

£7,920

 

Date of the transaction

 

31 August 2022

Place of the transaction 

 

 

Outside of a trading venue

 

 

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 

 

Sale of shares to settle income tax liability and national insurance in connection with vesting of shares under Deferred Bonus Plan

c)

 

Price(s) and volume(s)

 

 

Price(s) 

Volume(s)

£3.29

94,905

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

94,905 ordinary shares of 10p each 

£312,549 

e)

 

Date of the transaction

 

31 August 2022

f)

 

Place of the transaction 

 

 

London Stock Exchange

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Tris Simmonds

 

2

 

Reason for the notification

 

a)

 

Position/status

 

Group Chief Operating 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 

 

Sale of shares to settle income tax liability and national insurance in connection with vesting of shares under Deferred Bonus Plan and exercise of options under Company Share Option Plan ("CSOP")

c)

 

Price(s) and volume(s)

 

 

Price(s) 

Volume(s)

£3.29

30,742

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

30,742 ordinary shares of 10p each 

£101,242.41 

e)

 

Date of the transaction

 

31 August 2022

f)

 

Place of the transaction 

 

 

London Stock Exchange

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 Shipping Services 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 

 

Sale of shares to settle income tax liability and national insurance in connection with vesting of shares under Deferred Bonus Plan and exercise of options under Company Share Option Plan ("CSOP")

 

Price(s) and volume(s)

 

 

Price(s) 

Volume(s)

£3.29

13,731

 

Aggregated information

- Aggregated volume

- Price

 

 

13,731 ordinary shares of 10p each 

£45,220.21

 

 

Date of the transaction

 

31 August 2022

 

Place of the transaction 

 

 

London Stock Exchange

 

 

 

Details of the person discharging managerial responsibilities / person closely associated

 

 

Name

 

Sebastian Davenport-Thomas

 

 

Reason for the notification

 

 

Position/status

 

Global Head of Sale & Purchase, Shipbroking Division 

 

Initial notification /Amendment

 

Initial

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 

 

Name

 

Braemar Shipping Services 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 

 

Sale of shares to settle income tax liability and national insurance in connection with vesting of shares under Deferred Bonus Plan and exercise of options under Company Share Option Plan ("CSOP")

 

Price(s) and volume(s)

 

 

Price(s) 

Volume(s)

£3.29

46,411

 

Aggregated information

- Aggregated volume

- Price

 

 

46,411 ordinary shares of 10p each 

£152,845.02

 

 

Date of the transaction

 

31 August 2022

 

Place of the transaction 

 

 

London Stock Exchange

 

 

 

 

 

 

 

 

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