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10 Dec 2024 16:13
10 December 2024
BRAEMAR PLC
("Braemar" the "Company")
PDMR Share Dealing
Braemar Plc (LSE: BMS), a leading provider of expert investment, chartering and risk management advice to the shipping and energy markets, announces that on 9 December 2024, James Gundy, Group Chief Executive Officer, exercised 199,494 nil cost options ("Options") granted under the Company's Long Term Incentive Plan ("LTIP") as set out below:
LTIP award grant date
| Vesting date | Two-year holding period end date
| Number of Options exercised
|
29 October 2018 | 26 May 2021 | 26 May 2023 | 33,294
|
1 July 2019 | 26 August 2022 | 26 August 2024 | 166,200
|
The 2018 and 2019 LTIP awards vested following the assessment of the applicable performance conditions which were disclosed in the 2021 remuneration report (page 58) and 2022 remuneration report (page 74), both reports are available on the Company's website at Financial Reports - Braemar.
The exercise of the Options under the LTIP, has been satisfied through the allocation of existing ordinary shares held by the Braemar Employee Share Ownership Plan; as such, no new ordinary shares have been issued. In order to cover tax and national insurance liabilities arising from the exercise of the Options, James Gundy sold 94,112 shares on 9 December 2024 and retained the balance of 105,382 shares.
Following the above transactions, James Gundy's total shareholding is now 988,907 (being 3% of the Company's issued share capital). A separate TR-1 notification will be released in line with provisions in Chapter 5 of the Disclosure Guidance and Transparency Rules.
The notification set out below is 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 |
|
James Gundy, Group Chief Executive Officer | Tel +44 (0) 20 3142 4100 |
Grant Foley, Group Chief Financial Officer | |
Rebecca-Joy Wekwete, Company Secretary | |
Canaccord Genuity | |
Adam James / Harry Rees | Tel +44 (0) 20 7523 8000 |
Burson Buchanan | |
Charles Ryland / Stephanie Whitmore / Jack Devoy / Abby Gilchrist | Tel +44 (0) 20 7466 5000 |
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 10 pence each | |
Identification code
| GB0000600931 | |
Nature of the transaction
| Exercise of Options granted under the Company's LTIP in 2018 | |
Price(s) and volume(s) | Price: £0.00
| Volume: 33,294
|
Aggregated information - Price
- Aggregated volume
|
Price: £0.00
Volume: 33,294 | |
Date of the transaction | 9 December 2024
| |
Place of the transaction | Exercise of Options 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 10 pence each | |
Identification code
| GB0000600931 | |
Nature of the transaction
| Exercise of Options granted under the Company's LTIP in 2019 | |
Price(s) and volume(s) | Price: £0.00
| Volume: 166,200
|
Aggregated information - Price
- Aggregated volume
|
Price: £0.00
Volume: 166,200 | |
Date of the transaction | 9 December 2024
| |
Place of the transaction | Exercise of Options 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 10 pence each | |
Identification code
| GB0000600931 | |
Nature of the transaction
| Sale of shares to cover tax and national insurance following exercise of Options granted under the Company's LTIP in 2018 and 2019
| |
Price(s) and volume(s) | Price: £2.537266
| Volume: 94,112
|
Aggregated information - Price
- Aggregated volume
|
Price: £238,787.18
Volume: 94,112 | |
Date of the transaction | 9 December 2024
| |
Place of the transaction | London Stock Exchange (XLON)
| |
Notes to Editors:
About Braemar Plc
Braemar provides expert investment, chartering, and risk management advice to the shipping and energy markets 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.
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