Last checked at 29 Jul 2020 13:42
29 July 2020
BRAEMAR SHIPPING SERVICES PLC
("Braemar", the "Company" or the "Group")
Director / PDMR Shareholding
Braemar Shipping Services Plc (LSE:BMS), a leading international provider of shipbroking, financial advisory, logistics and engineering services to the shipping and energy industries, announces that it granted awards under its Long Term Incentive Plan ("LTIP") to certain PDMRs of the Company on 24 July 2020, as follows:
James Gundy, CEO, Shipbroking Division - 218,750
Nicholas Stone, Group Finance Director & Chief Operating Officer - 156,250
Peter Mason, General Counsel & Company Secretary - 56,250
Peter Wilson, Managing Director, Logistics Division - 75,000
These awards are nil cost options to acquire ordinary shares of 10p each in the Company and will vest in three years subject to certain performance criteria based on the Company's underlying earnings per share and, for James Gundy and Peter Wilson, the underlying operating profit of the Shipbroking and Logistics Divisions respectively. The underlying earnings per share performance criteria is to be tested on the 2022/23 financial year (the final year of the performance period for the award) and has a threshold of 30p for 25% vesting rising on a straight-line basis to 42p for 100% vesting.
Further information in relation to the LTIP is contained in the Company's 2020 Annual Report.
For further information, contact:
Braemar Shipping Services | |
Ron Series, Executive Chairman | Tel +44 (0) 20 3142 4100 |
Nick Stone, Finance Director | |
Peter Mason, Company Secretary | |
finnCap | |
Matt Goode/ James Thompson/ Kate Washington | 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 Shipping Services Plc is a leading international provider of shipbroking, financial advisory, logistics and engineering services principally to the shipping and energy industries. Founded in 1972, Braemar employs approximately 530 people in 28 offices worldwide across its Shipbroking, Financial, Logistics and Engineering 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
The notification below, made in accordance with requirements of the EU Market Abuse Regulation, provides further details.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | James Gundy | ||||
2 | Reason for the notification | |||||
a) | Position/status | CEO, 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 | Grant of LTIP awards of nil cost options over ordinary shares of 10p each | ||||
c) | Price(s) and volume(s) |
| ||||
d)
| Aggregated information - Aggregated volume - Price |
218,750 ordinary shares of 10p each Nil | ||||
e) | Date of the transaction | 24 July 2020 | ||||
f) | Place of the transaction | Outside of a trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | Nicholas Stone | ||||
2 | Reason for the notification | |||||
a) | Position/status | Group Finance Director & 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 | Grant of LTIP awards of nil cost options over ordinary shares of 10p each | ||||
c) | Price(s) and volume(s) |
| ||||
d)
| Aggregated information - Aggregated volume - Price |
156,250 ordinary shares of 10p each Nil | ||||
e) | Date of the transaction | 24 July 2020 | ||||
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 & 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 LTIP awards of nil cost options over ordinary shares of 10p each | ||||
c) | Price(s) and volume(s) |
| ||||
d)
| Aggregated information - Aggregated volume - Price |
56,250 ordinary shares of 10p each Nil | ||||
e) | Date of the transaction | 24 July 2020 | ||||
f) | Place of the transaction | Outside of a trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a) | Name | Peter Wilson | ||||
2 | Reason for the notification | |||||
a) | Position/status | Managing Director, Logistics 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 | Grant of LTIP awards of nil cost options over ordinary shares of 10p each | ||||
c) | Price(s) and volume(s) |
| ||||
d)
| Aggregated information - Aggregated volume - Price |
75,000 ordinary shares of 10p each Nil | ||||
e) | Date of the transaction | 24 July 2020 | ||||
f) | Place of the transaction | Outside of a trading venue | ||||