Braemar Shipping Services PLC Director/PDMR Shareholding (7747G)

TIDMBMS

RNS Number : 7747G

Braemar Shipping Services PLC

01 June 2017

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Braemar Shipping Services plc

("Braemar" or the "Company")

Employee Share Scheme and PDMR Dealing

Braemar Shipping Services plc (LSE: BMS), a leading international provider of broking, consultancy, technical and other services to the shipping, marine, energy, offshore and insurance industries, is pleased to announce that it has launched a Save as You Earn share scheme for all employees (the "SAYE Scheme"). Under the SAYE Scheme, employees have been offered the opportunity to participate in the future growth of the Company through the granting of share options.

Eligible employees were invited to subscribe for options over ordinary shares of 10 pence each in the Company ("Ordinary Shares") with an exercise price of 245.04 pence per share, representing a 20% discount to the closing mid-market price of the Ordinary Shares over the three days prior to the invitation to participate which was made on 24 May 2017. The options have a savings contract start date of 1 August 2017 and are exercisable between 1 August 2020 and 1 February 2021.

Certain Executive Directors and PDMRs have elected to participate in the scheme as follows:

 
Name            Title                                      SAYE Share 
                                                         Options Granted 
--------------  --------------------------------------  ---------------- 
James Kidwell   Group Chief Executive                        3,672 
Louise Evans    Group Finance Director                       3,672 
James Gundy     Chief Executive, Shipbroking division        3,672 
Kevin Gorman    Managing Director, Logistics division        3,672 
 

Non-Executive Directors were not eligible to participate.

In addition, on 31 May 2017 Braemar granted share awards under the Company's Deferred Bonus Plan.

Awards were made to the following PDMRs in relation to their annual bonus payments in respect of the 2016/2017 financial year, of which a portion was deferred into Company shares which vest in three years from the date of grant:

 
Name           Title                                   Deferred share 
                                                        awards granted 
-------------  --------------------------------------  --------------- 
James Gundy    Chief Executive, Shipbroking division       32,581 
Kevin Gorman   Managing Director, Logistics division        2,000 
 

Further details of interests held by Executive Directors and of the Deferred Bonus Plan are disclosed in the Annual Report 2017 which is available on our website www.braemar.com/investors.

For further information, contact:

 
Braemar Shipping Services 
James Kidwell, Chief Executive                      Tel [phone] 
Louise Evans, Finance Director                      Tel [phone] 
 
Stockdale Securities 
Robert Finlay / Antonio Bossi / Henry Willcocks     Tel [phone] 
 
Buchanan 
Charles Ryland / Victoria Hayns / Stephanie Watson  Tel [phone] 
 

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 and Logistics 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

Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated ("PCA") with them.

 
1   Details of the person discharging managerial responsibilities / person closely associated 
a)  Name                                                         James Kidwell 
2   Reason for the notification 
a)  Position/status                                              Executive Director 
b)  Initial notification / Amendment                             Initial Notification 
3   Details of the issuer, emission allowance market participant, auction platform, auctioneer 
     or auction monitor 
a)  Name                                                                Braemar Shipping Services plc 
b)  LEI                                                                 N/A 
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   Options over Ordinary shares of 10pence each 
     Identification code:                                          ISIN: GB0000600931 
b)  Nature of the transaction                                    Grant of SAYE Options 
c)  Price(s) and volume(s)                                        Price(s)  Volume(s) 
                                                                   245.04p   3,672 
d)  Aggregated information                                        N/A 
e)  Date of the transaction                                      31 May 2017 
f)  Place of the transaction                                     Off market 
 
 
1   Details of the person discharging managerial responsibilities / person closely associated 
a)  Name                                                         Louise Evans 
2   Reason for the notification 
a)  Position/status                                              Executive Director 
b)  Initial notification / Amendment                             Initial Notification 
3   Details of the issuer, emission allowance market participant, auction platform, auctioneer 
     or auction monitor 
a)  Name                                                                Braemar Shipping Services plc 
b)  LEI                                                                 N/A 
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   Options over Ordinary shares of 10pence each 
     Identification code:                                          ISIN: GB0000600931 
b)  Nature of the transaction                                    Grant of SAYE Options 
c)  Price(s) and volume(s)                                        Price(s)  Volume(s) 
                                                                   245.04p   3,672 
d)  Aggregated information                                        N/A 
e)  Date of the transaction                                      31 May 2017 
f)  Place of the transaction                                     Off market 
 
 
1   Details of the person discharging managerial responsibilities / person closely associated 
a)  Name                                                          James Gundy 
2   Reason for the notification 
a)  Position/status                                              PDMR 
b)  Initial notification / Amendment                             Initial Notification 
3   Details of the issuer, emission allowance market participant, auction platform, auctioneer 
     or auction monitor 
a)  Name                                                                Braemar Shipping Services plc 
b)  LEI                                                                 N/A 
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   Options over Ordinary shares of 10 pence each 
     Identification code:                                          ISIN: GB0000600931 
b)  Nature of the transaction                                    Grant of SAYE Options 
c)  Price(s) and volume(s)                                        Price(s)  Volume(s) 
                                                                   245.04p   3,672 
d)  Aggregated information                                        N/A 
e)  Date of the transaction                                      31 May 2017 
f)  Place of the transaction                                     Off market 
 
 
 
1   Details of the person discharging managerial responsibilities / person closely associated 
a)  Name                                                         Kevin Gorman 
2   Reason for the notification 
a)  Position/status                                              PDMR 
b)  Initial notification / Amendment                             Initial Notification 
3   Details of the issuer, emission allowance market participant, auction platform, auctioneer 
     or auction monitor 
a)  Name                                                                Braemar Shipping Services plc 
b)  LEI                                                                 N/A 
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   Options over Ordinary shares of 10 pence each 
     Identification code:                                          ISIN: GB0000600931 
b)  Nature of the transaction                                    Grant of SAYE Options 
c)  Price(s) and volume(s)                                        Price(s)  Volume(s) 
                                                                   245.04p   3,672 

d)  Aggregated information                                        N/A 
e)  Date of the transaction                                      31 May 2017 
f)  Place of the transaction                                     Off market 
 
 
1   Details of the person discharging managerial responsibilities / person closely associated 
a)  Name                                                          James Gundy 
2   Reason for the notification 
a)  Position/status                                              PDMR 
b)  Initial notification / Amendment                             Initial Notification 
3   Details of the issuer, emission allowance market participant, auction platform, auctioneer 
     or auction monitor 
a)  Name                                                                Braemar Shipping Services plc 
b)  LEI                                                                 N/A 
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   Options over Ordinary shares of 10 pence each 
     Identification code:                                          ISIN: GB0000600931 
b)  Nature of the transaction                                    Grant of deferred share awards 
c)  Price(s) and volume(s)                                        Price(s)  Volume(s) 
                                                                   0.00p     32,581 
d)  Aggregated information                                        N/A 
e)  Date of the transaction                                      31 May 2017 
f)  Place of the transaction                                     Off market 
 
 
 
1   Details of the person discharging managerial responsibilities / person closely associated 
a)  Name                                                         Kevin Gorman 
2   Reason for the notification 
a)  Position/status                                              PDMR 
b)  Initial notification / Amendment                             Initial Notification 
3   Details of the issuer, emission allowance market participant, auction platform, auctioneer 
     or auction monitor 
a)  Name                                                                Braemar Shipping Services plc 
b)  LEI                                                                 N/A 
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   Options over Ordinary shares of 10 pence each 
     Identification code:                                          ISIN: GB0000600931 
b)  Nature of the transaction                                    Grant of deferred share awards 
c)  Price(s) and volume(s)                                        Price(s)  Volume(s) 
                                                                   0.00p     2,000 
d)  Aggregated information                                        N/A 
e)  Date of the transaction                                      31 May 2017 
f)  Place of the transaction                                     Off market 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

DSHOKDDKFBKDDPN

(END) Dow Jones Newswires

June 01, 2017 02:00 ET (06:00 GMT)