Braemar Shipping Services PLC Director/PDMR Shareholding (5070U)

TIDMBMS

RNS Number : 5070U

Braemar Shipping Services PLC

29 July 2020

29 July 2020

BRAEMAR SHIPPING SERVICES PLC

("Braemar", the "Company" or the "Group")

Director / PDMR Shareholding

Braemar Shipping Services Plc (LSE:BMS), a leading international provider of shipbroking, financial advisory, logistics and engineering services to the shipping and energy industries, announces that it granted awards under its Long Term Incentive Plan ("LTIP") to certain PDMRs of the Company on 24 July 2020, as follows:

James Gundy, CEO, Shipbroking Division - 218,750

Nicholas Stone, Group Finance Director & Chief Operating Officer - 156,250

Peter Mason, General Counsel & Company Secretary - 56,250

Peter Wilson, Managing Director, Logistics Division - 75,000

These awards are nil cost options to acquire ordinary shares of 10p each in the Company and will vest in three years subject to certain performance criteria based on the Company's underlying earnings per share and, for James Gundy and Peter Wilson, the underlying operating profit of the Shipbroking and Logistics Divisions respectively. The underlying earnings per share performance criteria is to be tested on the 2022/23 financial year (the final year of the performance period for the award) and has a threshold of 30p for 25% vesting rising on a straight-line basis to 42p for 100% vesting.

Further information in relation to the LTIP is contained in the Company's 2020 Annual Report.

For further information, contact:

 
 Braemar Shipping Services 
  Ron Series, Executive Chairman                Tel [phone] 
  Nick Stone, Finance Director 
  Peter Mason, Company Secretary 
 finnCap 
  Matt Goode/ James Thompson/ Kate Washington   Tel [phone] 
 Buchanan 
  Charles Ryland / Victoria Hayns / Stephanie   Tel [phone] 
   Watson / Matilda Abraham 
 

Notes to Editors:

About Braemar Shipping Services Plc

Braemar Shipping Services Plc is a leading international provider of shipbroking, financial advisory, logistics and engineering services principally to the shipping and energy industries. Founded in 1972, Braemar employs approximately 530 people in 28 offices worldwide across its Shipbroking, Financial, Logistics and Engineering 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

The notification below, made in accordance with requirements of the EU Market Abuse Regulation, provides further details.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
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 Division 
b)  Initial notification       Initial 
     /Amendment 
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         Ordinary shares of 10p each 
     financial instrument, 
     type of instrument         GB0000600931 
     Identification code 
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)      Price(s)  Volume(s) 
                                 Nil       218,750 shares 
d)  Aggregated information 
     - Aggregated volume         218,750 ordinary shares of 10p each 
     - Price                     Nil 
e)  Date of the transaction    24 July 2020 
f)  Place of the transaction   Outside of a trading venue 
 
 
1   Details of the person discharging managerial responsibilities 
     / person closely associated 
a)  Name                       Nicholas Stone 
2   Reason for the notification 
a)  Position/status            Group Finance Director & Chief Operating 
                                Officer 
b)  Initial notification       Initial 
     /Amendment 
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         Ordinary shares of 10p each 
     financial instrument, 
     type of instrument         GB0000600931 
     Identification code 
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)      Price(s)  Volume(s) 
                                 Nil       156,250 shares 
d)  Aggregated information 
     - Aggregated volume         156,250 ordinary shares of 10p each 
     - Price                     Nil 
e)  Date of the transaction    24 July 2020 
f)  Place of the transaction   Outside of a trading venue 
 
 
1   Details of the person discharging managerial responsibilities 
     / person closely associated 
a)  Name                       Peter Mason 
2   Reason for the notification 
a)  Position/status            General Counsel & Company Secretary 
b)  Initial notification       Initial 
     /Amendment 
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         Ordinary shares of 10p each 
     financial instrument, 
     type of instrument         GB0000600931 
     Identification code 
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)      Price(s)  Volume(s) 
                                 Nil       56,250 shares 
d)  Aggregated information 
     - Aggregated volume         56,250 ordinary shares of 10p each 
     - Price                     Nil 
e)  Date of the transaction    24 July 2020 
f)  Place of the transaction   Outside of a trading venue 
 
 
1   Details of the person discharging managerial responsibilities 
     / person closely associated 
a)  Name                       Peter Wilson 
2   Reason for the notification 
a)  Position/status            Managing Director, Logistics Division 
b)  Initial notification       Initial 
     /Amendment 
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         Ordinary shares of 10p each 
     financial instrument, 
     type of instrument         GB0000600931 
     Identification code 
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)      Price(s)  Volume(s) 
                                 Nil       75,000 shares 
d)  Aggregated information 
     - Aggregated volume         75,000 ordinary shares of 10p each 
     - Price                     Nil 
e)  Date of the transaction    24 July 2020 
f)  Place of the transaction   Outside of a trading venue 
 

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July 29, 2020 08:42 ET (12:42 GMT)