TIDMBMS

RNS Number : 5423W

Braemar PLC

12 December 2023

12 December 2023

BRAEMAR PLC

("Braemar" or the "Company")

Grant of Share Incentives to PDMRs

Braemar Plc (LSE: BMS), a leading international shipbroker and provider of expert investment, chartering, and risk management advice to the shipping and energy markets , announces that the following grants of nil-cost options were made under the Braemar Long Term Incentive Plan (the " LTIP ") over the Company's ordinary shares of 10p to the following PDMRs on 8 December 2023 :

 
 PDMR                                   Number of nil-cost options 
                                         over ordinary shares 
 James Gundy - Group Chief Executive 
  Officer                               169,039 
                                       --------------------------- 
 Tris Simmonds - Group Chief 
  Operations Officer                    133,452 
                                       --------------------------- 
 Grant Foley - Group Chief Financial 
  Officer                               67,467 
                                       --------------------------- 
 

In all cases, there is no consideration for the grant of the awards and the exercise price is nil. The awards will vest in three years' time subject to the rules of the LTIP and the performance criteria being satisfied. The performance criteria is based on the Company's growth in Earnings Per Share (" EPS ") measured over a three-year performance period ending on 28 February 2026. The EPS measure will be adjusted to eliminate 50% of the impact of changes in the USD foreign exchange rate over the three-year performance period. Any shares acquired under such LTIP awards are subject to a further two-year holding period.

In addition, the Company granted the following awards over ordinary shares of 10p each under the Company's Deferred Bonus Plan (the "DBP") on 8 December 2023 to the following PDMRs in relation to the individuals' annual bonuses in respect of the 2022/23 financial year:

 
 PDMR                                   Number of ordinary shares of 
                                         10p each over which awards were 
                                         granted 
 James Gundy - Group Chief Executive 
  Officer                               104,982 
                                       --------------------------------- 
 Tris Simmonds - Group Chief 
  Operations Officer                    44,484 
                                       --------------------------------- 
 Alistair Borthwick - Group Finance 
  Director                              8,897 
                                       --------------------------------- 
 

In all cases, there was no consideration for the grant of the DBP awards, which will vest on 9 July 2026.

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.

Further information on the LTIP and DBP is contained in the Company' s 2023 Annual Report.

For further information, contact:

 
Braemar Plc 
James Gundy, Group Chief Executive Officer      Tel +44 (0) 20 3142 4100 
Grant Foley, Group Chief Financial Officer 
Rebecca-Joy Wekwete, Company Secretary 
Buchanan 
Charles Ryland / Stephanie Whitmore /           Tel +44 (0) 20 7466 5000 
 Jamie Hooper 
 
Investec Bank plc 
Gary Clarence / Harry Hargreaves / Alice        Tel +44 (0) 20 7597 5970 
 King 
 
Cavendish Securities PLC 
 Ben Jeynes / Matt Lewis (Corporate Finance)      Tel +44 (0) 20 7220 0500 
 Leif Powis /Dale Bellis/ Charlie Combe 
 (Sales & ECM) 
 

Notes to Editors:

About Braemar Plc

Braemar provides expert investment, chartering, and risk management advice that enable its clients to secure sustainable returns and mitigate risk in the volatile world of shipping and energy. Our experienced brokers work in tandem with specialist professionals to form teams tailored to our customers' needs, and provide an integrated service supported by a collaborative culture.

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 and follow Braemar on LinkedIn .

 
  Details of the person discharging managerial responsibilities 
    / person closely associated 
   Name                                         James Gundy 
                                               ------------------------------------------- 
   Reason for the notification                  Group Chief Executive Officer 
    Position/status 
                                               ------------------------------------------- 
   Initial notification /Amendment              Initial 
                                               ------------------------------------------- 
   Details of the issuer, emission allowance market participant, 
    auction platform, auctioneer or auction monitor 
   Name                                         Braemar Plc 
                                               ------------------------------------------- 
   LEI                                          213800EV6IKTTHJ83C19 
                                               ------------------------------------------- 
   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 
   Description of the financial instrument,     Ordinary shares of 10p each 
   type of instrument 
                                               ------------------------------------------- 
   Identification code                          GB0000600931 
                                               ------------------------------------------- 
   Nature of the transaction                    Grant of LTIP awards of nil cost options 
                                                over ordinary shares of 10p each. 
                                               ------------------------------------------- 
   Price(s) and volume(s)                       Price: Nil 
                                                 Volume: 169,039 
                                               ------------------------------------------- 
   Aggregated information 
    - Aggregated volume                          169,039 
    - Price                                      Nil 
                                               ------------------------------------------- 
   Date of the transaction                      8 December 2023 
                                               ------------------------------------------- 
   Place of the transaction                     Grant of awards occurred outside a trading 
                                                venue. 
                                               ------------------------------------------- 
   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 
   Description of the financial instrument,     Ordinary shares of 10p each 
   type of instrument 
                                               ------------------------------------------- 
   Identification code                          GB0000600931 
                                               ------------------------------------------- 
   Nature of the transaction                    Grant of deferred share awards over 
                                                ordinary shares of 10p each pursuant to 
                                                the Company's 
                                                Deferred Bonus Plan. 
                                               ------------------------------------------- 
   Price(s) and volume(s)                       Price: Nil 
                                                 Volume: 104,982 
                                               ------------------------------------------- 
   Aggregated information 
    - Aggregated volume                          104,982 
    - Price                                      Nil 
                                               ------------------------------------------- 
   Date of the transaction                      8 December 2023 
                                               ------------------------------------------- 
   Place of the transaction                     Grant of awards occurred outside a trading 
                                                venue. 
                                               ------------------------------------------- 
   Details of the person discharging managerial responsibilities 
    / person closely associated 
   Name                           Tris Simmonds 
                                 ----------------------------------- 
   Reason for the notification    Group Chief Operations Officer 
    Position/status 
                                 ----------------------------------- 
   Initial notification           Initial 
    /Amendment 
                                 ----------------------------------- 
   Details of the issuer, emission allowance market participant, 
    auction platform, auctioneer or auction monitor 
   Name                           Braemar Plc 
                                 ----------------------------------- 
   LEI                            213800EV6IKTTHJ83C19 
                                 ----------------------------------- 
   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 
   Description of the financial   Ordinary shares of 10p each 
    instrument, type of 
    instrument 
                                 ----------------------------------- 
   Identification code            GB0000600931 
                                 ----------------------------------- 
   Nature of the transaction      Grant of LTIP awards of nil 
                                   cost options over ordinary shares 
                                   of 10p each. 
                                 ----------------------------------- 
   Price(s) and volume(s)         Price: Nil 
                                   Volume: 133,452 
                                 ----------------------------------- 
   Aggregated information 
    - Aggregated volume            133,452 
    - Price                        Nil 
                                 ----------------------------------- 
   Date of the transaction        8 December 2023 
                                 ----------------------------------- 
   Place of the transaction       Grant of awards occurred outside 
                                   a trading venue. 
                                 ----------------------------------- 
   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 
   Description of the financial   Ordinary shares of 10p each 
    instrument, type of 
    instrument 
                                 ----------------------------------- 
   Identification code            GB0000600931 
                                 ----------------------------------- 
   Nature of the transaction      Grant of deferred share awards 
                                   over ordinary shares of 10p 
                                   each pursuant to the Company's 
                                   Deferred Bonus Plan. 
                                 ----------------------------------- 
   Price(s) and volume(s)         Price: Nil 
                                   Volume: 44,484 
                                 ----------------------------------- 
   Aggregated information 
    - Aggregated volume            44,484 
    - Price                        Nil 
                                 ----------------------------------- 
   Date of the transaction        8 December 2023 
                                 ----------------------------------- 
   Place of the transaction       Grant of awards occurred outside 
                                   a trading venue. 
                                 ----------------------------------- 
 
   Details of the person discharging managerial responsibilities 
    / person closely associated 
   Name                           Alistair Borthwick 
                                 ----------------------------------- 
   Reason for the notification    Group Finance Director 
    Position/status 
                                 ----------------------------------- 
   Initial notification           Initial 
    /Amendment 
                                 ----------------------------------- 
   Details of the issuer, emission allowance market participant, 
    auction platform, auctioneer or auction monitor 
   Name                           Braemar Plc 
                                 ----------------------------------- 
   LEI                            213800EV6IKTTHJ83C19 
                                 ----------------------------------- 
   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 
   Description of the financial   Ordinary shares of 10p each 
    instrument, type of 
    instrument 
                                 ----------------------------------- 
   Identification code            GB0000600931 
                                 ----------------------------------- 
   Nature of the transaction      Grant of deferred share awards 
                                   over ordinary shares of 10p 
                                   each pursuant to the Company's 
                                   Deferred Bonus Plan. 
                                 ----------------------------------- 
   Price(s) and volume(s)         Price: Nil 
                                   Volume: 8,897 
                                 ----------------------------------- 
   Aggregated information 
    - Aggregated volume            8,897 
    - Price                        Nil 
                                 ----------------------------------- 
   Date of the transaction        8 December 2023 
                                 ----------------------------------- 
   Place of the transaction       Grant of awards occurred outside 
                                   a trading venue. 
                                 ----------------------------------- 
   Details of the person discharging managerial responsibilities 
    / person closely associated 
   Name                           Grant Foley 
                                 ----------------------------------- 
   Reason for the notification    Group Chief Financial Officer 
    Position/status 
                                 ----------------------------------- 
   Initial notification           Initial 
    /Amendment 
                                 ----------------------------------- 
   Details of the issuer, emission allowance market participant, 
    auction platform, auctioneer or auction monitor 
   Name                           Braemar Plc 
                                 ----------------------------------- 
   LEI                            213800EV6IKTTHJ83C19 
                                 ----------------------------------- 
   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 
   Description of the financial   Ordinary shares of 10p each 
    instrument, type of 
    instrument 
                                 ----------------------------------- 
   Identification code            GB0000600931 
                                 ----------------------------------- 
   Nature of the transaction      Grant of LTIP awards of nil 
                                   cost options over ordinary shares 
                                   of 10p each. 
                                 ----------------------------------- 
   Price(s) and volume(s)         Price: Nil 
                                   Volume: 67,467 
                                 ----------------------------------- 
   Aggregated information 
    - Aggregated volume            67,467 
    - Price                        Nil 
                                 ----------------------------------- 
   Date of the transaction        8 December 2023 
                                 ----------------------------------- 
   Place of the transaction       Grant of awards occurred outside 
                                   a trading venue. 
                                 ----------------------------------- 
------------------------------------------------------------------------------------------ 
 

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END

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(END) Dow Jones Newswires

December 12, 2023 11:58 ET (16:58 GMT)

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