Director/PDMR Shareholding (9517G)
May 19 2011 - 10:49AM
UK Regulatory
TIDMBMS
RNS Number : 9517G
Braemar Shipping Services PLC
19 May 2011
Braemar Shipping Services plc (the "Company")
Director / PDMR Shareholding
The Company announces that, on 17 May 2011, the Company's
Remuneration Committee granted awards in total over 240,727
ordinary shares of 10 pence each ("Shares") under the Company's
Long Term Incentive Plan ("LTIP"). Directors of the Company
received grants of Shares under the LTIP as follows:
Shares granted under
Director LTIP
A.R.W. Marsh 97,436
J.R.V. Kidwell 45,000
Q.B. Soanes 55,556
D. Petropoulos 42,735
These awards have been made at nil cost and will vest over a
period of three years provided certain performance criteria have
been fulfilled. The performance conditions applied to the awards
are based on the Company's earnings per share over a period of
three years.
The Company also announces that on 17 May 2011, the trustee of
the Employee Share Ownership Plan (the "ESOP") transferred Shares
to Directors of the Company as follows:
Director Shares
---------------- -------
A.R.W. Marsh 6,667
J.R.V. Kidwell 6,667
Q.B. Soanes 6,667
D. Petropoulos 6,667
These Shares were transferred out of the ESOP for nil
consideration in order to satisfy the vesting of Shares granted
under the LTIP, following satisfaction of the conditions of such
grant.
Following the vesting referred to above the holdings of those
Directors in Shares, all of which are beneficial, are set out
below:
% of issued share
Director Shares capital
---------------- ---------- ------------------
A.R.W. Marsh 1,251,073 5.93
J.R.V. Kidwell 103,084 0.49
Q.B. Soanes 1,187,344 5.63
D. Petropoulos 586,525 2.78
Following the above transactions, the directors also have an
interest in Shares subject to options, held and granted under the
1997 Scheme, the SAYE Scheme and the LTIP as set out below:
Number
of
ordinary
shares Exercise Date
Date of under price Date of
Director Scheme Grant option (p) exercisable expiry
------------- -------- -------- --------- --------- ------------ -------
1 Feb 1 July
A.R.W. Marsh SAYE 09 4,887 196.4 1 Feb 12 12
11 May 11 May
LTIP 07 6,666 - 10 -
18 June 18 June
LTIP 10 75,000 - 13 -
17 May 17 May
LTIP 11 97,436 - 14 -
183,989
J.R.V. 1 Feb 1 July
Kidwell SAYE 09 4,887 196.4 1 Feb 12 12
11 May 11 May
LTIP 07 6,666 - 10 -
18 June 18 June
LTIP 10 40,000 - 13 -
17 May 17 May
LTIP 11 45,000 - 14 -
96,553
1 Feb 1 July
Q.B. Soanes SAYE 09 4,887 196.4 1 Feb 12 12
11 May 11 May
LTIP 07 6,666 - 10 -
18 June 18 June
LTIP 10 47,500 - 13 -
17 May 17 May
LTIP 11 55,556 - 14 -
114,609
D. 1 Feb 1 July
Petropoulos SAYE 09 4,887 196.4 1 Feb 12 12
11 May 11 May
LTIP 07 6,666 - 10 -
18 June 18 June
LTIP 10 33,644 - 13 -
17 May 17 May
LTIP 11 42,735 - 14 -
94,288
Following the vesting noted above the Directors noted above,
Messrs Marsh, Kidwell, Soanes and Petropoulos who are all executive
directors of the Company, in common with the other employees have
an interest in 890,574 Shares held on behalf of the ESOP.
19 May 2011
For further information, contact:
Braemar Shipping Services plc Tel: 020 7535 2881
James Kidwell (Finance Director)
Arbuthnot Securities Limited Tel: 0207 012 2000
Nick Tulloch
Henry Willcocks
This information is provided by RNS
The company news service from the London Stock Exchange
END
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