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15 May 2008 15:55
Braemar Shipping Services plc (the "Company")
Issue of Equity
The Board of Braemar Shipping Services plc announced the acquisition of Steege Kingston Partnership Limited ("Steege Kingston") on the 26 February 2008. As part of the acquisition of Steege Kingston, it has been agreed by the Board to award a total of 13,644 ordinary shares in the Company to two senior employees of Steege Kingston who were not shareholders of the company, split equally between the two.
The shares will rank pari passu with existing shares but are subject to the same terms and conditions as those of the selling shareholders, the principle condition being that they may not be sold for two years, following their issue.
Application will be made to the UK Listing Authority for the 13,644 new ordinary shares to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's market for listed securities. It is expected that admission will take place and dealings will commence in these new ordinary shares on 28 May 2008. Following this transaction there will be 20,937,442 ordinary shares in issue.
15 May 2008
For further information, contact:
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Braemar Shipping Services plc |
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|
James Kidwell |
Tel 020 7535 2881 |
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Charles Stanley Securities |
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|
Philip Davies / Carl Holmes |
Tel 020 7149 6000 |
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