2 Mar 2018 07:00
2 March 2018
BRAEMAR SHIPPING SERVICES PLC
("Braemar", the "Company" or the "Group")
Employee Share Ownership Plan ("ESOP") Trading Plan
Braemar Shipping Services plc (LSE: BMS), announces that SG Kleinwort Hambros Trust Company (CI) Ltd, as trustee of the Braemar Shipping Services plc ESOP (the "Trustee") has entered into a trading plan with the Company.
Under the trading plan, which will run from 5 March 2018 to 14 May 2018, the Trustee will instruct Stockdale Securities Ltd, as broker, to acquire Ordinary Shares of 10 pence ("Ordinary Shares") in the Company for the ESOP. Purchases under the trading plan will be limited to a total of 250,000 Ordinary Shares during the period of operation with a maximum number of Ordinary Shares per transaction of 10,000. The maximum price paid per Ordinary Share shall be 5% above the average of the middle market quotations for such Ordinary Shares for the five business days immediately preceding the day on which the purchase is made.
While the Company is in a closed period neither the Company nor the Trustee will attempt to terminate or amend the trading plan that has been entered into. The trading plan will expire at the close of business on 14 May 2018.
The Trustee has absolute discretion and independence in respect of any trading decisions it may make in respect of the purchase of Ordinary Shares pursuant to the ESOP trading plan.
For further information, contact:
Braemar Shipping Services |
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James Kidwell, Chief Executive | Tel +44 (0) 20 3142 4100 |
Louise Evans, Finance Director | Tel +44 (0) 20 3142 4100 |
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Stockdale Securities |
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Robert Finlay / Antonio Bossi / Henry Willcocks | Tel +44 (0) 20 7601 6100 |
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Buchanan |
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Charles Ryland / Victoria Hayns / Stephanie Watson | Tel +44 (0) 20 7466 5000
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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 850 people in more than 70 locations worldwide across its Shipbroking, Technical, Logistics & Financial divisions.
Braemar joined the Official List of the London Stock Exchange in November 1997 and trades under the symbol BMS.
For more information visit www.braemar.com
Braemar Shipping (BMS)