Braemar Shipping Services PLC Director/PDMR Shareholding (9531I)

TIDMBMS

RNS Number : 9531I

Braemar Shipping Services PLC

18 August 2021

18 August 2021

BRAEMAR SHIPPING SERVICES PLC

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

Director/PDMR Shareholding

Braemar Shipping Services Plc (LSE: BMS), a leading international Shipbroker and provider of expert advice in shipping investment, chartering, risk management and logistics services, announces that it was notified on 17 August 2021 that the trustee of the Braemar Employee Share Ownership Plan had approved the transfer of ordinary shares of 10p each in the Company ("Ordinary Shares") to certain employees of Braemar, including three PDMRs of the Company, as follows:

 
Name                         Title                                         Ordinary 
                                                                       shares transferred 
---------------------------  ---------------------------------------  ------------------- 
James Gundy                  Group Chief Executive Officer                  20,327 
Alistair Borthwick           Finance Director, Shipbroking Division          4,841 
                             Global Head of Sale & Purchase, 
Sebastian Davenport-Thomas    Shipbroking Division                           4,384 
 

The release of the Ordinary Shares occurred on 17 August 2021 following the vesting of nil cost awards under the Company's Deferred Bonus Plan in relation to the year ended 28 February 2018 and, for Alistair Borthwick and Sebastian Davenport-Thomas, linked awards under the Company Share Option Plan.

In addition to the Ordinary Shares released as noted above, James Gundy's award was partly settled in cash in the amount equivalent to 18,026 shares, Alistair Borthwick's award was partly settled in cash in the amount equivalent to 4,050 shares and Sebastian Davenport-Thomas' award was partly settled in cash in the amount equivalent to 3,634 shares, being the extent needed to cover their liability to income tax and employee national insurance arising in relation to the settlement of their awards.

Following the release of these Ordinary Shares, the total holding of Ordinary Shares of each of James Gundy, Alistair Borthwick and Sebastian Davenport-Thomas (including those of persons closely associated with them) will be as follows:

 
Name                         Title                             Total Ordinary  % of Company's 
                                                                   Shares       issued share 
                                                                                   capital 
---------------------------  --------------------------------  --------------  -------------- 
James Gundy                  Group Chief Executive Officer        634,436          1.98% 
                             Finance Director, Shipbroking 
Alistair Borthwick            Division                             13,041          0.04% 
                             Global Head of Sale & Purchase, 
Sebastian Davenport-Thomas    Shipbroking Division                137,385          0.43% 
 

The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

For further information, contact:

 
 Braemar Shipping Services Plc 
 James Gundy, Group Chief Executive            Tel [phone] 
  Officer 
 Nick Stone, Chief Financial Officer 
 Peter Mason, Company Secretary 
 finnCap 
 Matt Goode/ James Thompson 
 Buchanan                                      Tel [phone] 
 Charles Ryland / Victoria Hayns / Stephanie 
  Watson / Matilda Abraham 
                                               Tel [phone] 
 

Notes to Editors:

About Braemar

Braemar is a leading international Shipbroker and provider of expert advice in shipping investment, chartering and risk management. Braemar employs approximately 520 people in 30 locations worldwide across its Shipbroking, Financial 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

 
1   Details of the person discharging managerial responsibilities 
     / person closely associated 
a)  Name                         James Gundy 
2   Reason for the notification 
a)  Position/status              Group Chief Executive 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    Settlement of award under Deferred 
                                  Bonus Plan involving acquisition of 
                                  ordinary shares and cash in lieu of 
                                  ordinary shares 
c)  Price(s) and volume(s)        Price(s)   Volume(s) 
                                   Nil        20,327 
d)  Aggregated information 
 
     - Aggregated volume           20,327 ordinary shares of 10p each 
 
     - Price                       Nil 
e)  Date of the transaction      17 August 2021 
f)  Place of the transaction     Outside of a trading venue 
 
 
1   Details of the person discharging managerial responsibilities 
     / person closely associated 
a)  Name                       Alistair Borthwick 
2   Reason for the notification 
a)  Position/status            Finance Director, 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  Settlement of linked awards under Deferred 
                                Bonus Plan and Company Share Option 
                                Plan ("CSOP") involving acquisition 
                                of ordinary shares and cash in lieu 
                                of ordinary shares. (Prior to the PDMR 
                                being designated a PDMR, 7,685 CSOP 
                                awards with an exercise price of 275.33p 
                                were exercised and 7,410 of the resulting 
                                shares were sold at a price of 287p 
                                per share to fund the exercise price.) 
c)  Price(s) and volume(s)      Price(s)   Volume(s) 
                                 Nil        4,841 
d)  Aggregated information 
 
     - Aggregated volume         4,841 ordinary shares of 10p each 
 
     - Price                     Nil 
e)  Date of the transaction    17 August 2021 
f)  Place of the transaction   Outside of a trading venue 
 
 
1   Details of the person discharging managerial responsibilities 
     / person closely associated 
a)  Name                       Sebastian Davenport-Thomas 
2   Reason for the notification 
a)  Position/status            Global Head of Sale & Purchase, 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  Settlement of linked awards under Deferred 
                                Bonus Plan and Company Share Option 
                                Plan ("CSOP") involving acquisition 
                                of ordinary shares and cash in lieu 
                                of ordinary shares. (Prior to the PDMR 
                                being designated a PDMR, 8,019 CSOP 
                                awards with an exercise price of 275.33p 
                                were exercised and 7,732 of the resulting 
                                shares were sold at a price of 287p 
                                per share to fund the exercise price.) 
c)  Price(s) and volume(s)      Price(s)   Volume(s) 
                                 Nil        4,384 
d)  Aggregated information 
 
     - Aggregated volume         4,384 ordinary shares of 10p each 
 
     - Price                     Nil 
e)  Date of the transaction    17 August 2021 
f)  Place of the transaction   Outside of a trading venue 
 

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August 18, 2021 02:00 ET (06:00 GMT)