26 Jun 2018 12:38
26 June 2018
BRAEMAR SHIPPING SERVICES PLC
("Braemar", the "Company" or the "Group")
Director / PDMR Shareholding
Braemar Shipping Services plc (LSE: BMS), a leading international provider of broking, financial, consultancy, technical and logistics services to the shipping, marine, energy, offshore and insurance industries, announces that it granted share awards to certain PDMRs of the Company on 22 June 2018, as follows:
Long Term Incentive Plan ("LTIP")
113,606 awards to James Kidwell in respect of the awards that were to be granted last year, but were not due to regulatory restrictions. These awards are nil cost options to acquire ordinary shares of 10p each in the Company ("Ordinary Shares") and will vest in two years subject to certain performance criteria based on the Company's earnings per share.
A further 127,120 awards were made to James Kidwell, and 90,800 awards were made to Grant Smith, in respect of this year. These awards are nil cost options to acquire Ordinary Shares and will vest in three years subject to certain performance criteria based on the Company's earnings per share and, in the case of Grant Smith, the Technical division's underlying operating profit performance.
Further information in relation to the LTIP is contained in the Company's 2018 Annual Report.
Deferred Bonus Plan ("DBP")
The following awards of Ordinary Shares were made in relation to the individual's annual bonus payments in respect of the 2017/2018 financial year, of which a portion was deferred into Ordinary Shares that vest in three years from the date of grant:
Louise Evans | - | 16,344 |
James Gundy | - | 38,354 |
James Kidwell | - | 21,186 |
Further information in relation to the DBP is contained in the Company's 2018 Annual Report.
For further information, please contact:
Braemar Shipping Services plc | |
James Kidwell, Chief Executive | Tel +44 (0) 20 3142 4100 |
Peter Mason, Company Secretary | Tel +44 (0) 20 3142 4100 |
Stockdale Securities | |
Robert Finlay / Antonio Bossi / Henry Willcocks | Tel +44 (0) 20 7601 6100 |
Buchanan | |
Charles Ryland / Stephanie Watson / Tilly 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 knowledge and skill-based services to the shipping, marine, energy, offshore and insurance industries. Founded in 1972, Braemar employs approximately 800 people in more than 70 locations worldwide across its Shipbroking, Technical, Logistics and Financial 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 presentations, visit www.braemar.com.
The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||||||||
a)
| Name
| James Kidwell
| |||||||||
2
| Reason for the notification
| ||||||||||
a)
| Position/status
| CEO | |||||||||
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 and a deferred share award of ordinary shares of 10p each pursuant to the Company's Deferred Bonus Plan | |||||||||
c)
| Price(s) and volume(s)
|
| |||||||||
d)
| Aggregated information
- Aggregated volume
- Price
|
261,912 ordinary shares of 10p each
Nil
| |||||||||
e)
| Date of the transaction
| 22 June 2018 | |||||||||
f)
| Place of the transaction
| London Stock Exchange, Main Market | |||||||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Grant Smith
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Managing Director, Technical 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
|
90,800 ordinary shares of 10p each
Nil
| ||||
e)
| Date of the transaction
| 22 June 2018 | ||||
f)
| Place of the transaction
| London Stock Exchange, Main Market | ||||
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 | ||||
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 deferred share award of ordinary shares of 10p each pursuant to the Company's Deferred Bonus Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
38,354 ordinary shares of 10p each
Nil
| ||||
e)
| Date of the transaction
| 22 June 2018 | ||||
f)
| Place of the transaction
| London Stock Exchange, Main Market | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Louise Evans
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Group Finance Director | ||||
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 a deferred share award of ordinary shares of 10p each pursuant to the Company's Deferred Bonus Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
16,344 ordinary shares of 10p each
Nil
| ||||
e)
| Date of the transaction
| 22 June 2018 | ||||
f)
| Place of the transaction
| London Stock Exchange, Main Market | ||||
Braemar Shipping (BMS)