Braemar Shipping Services PLC Director / PDMR Shareholding (2979C)
June 17 2021 - 11:13AM
UK Regulatory
TIDMBMS
RNS Number : 2979C
Braemar Shipping Services PLC
17 June 2021
BRAEMAR SHIPPING SERVICES PLC
("Braemar", the "Company" or the "Group")
17 June 2021
Director / PDMR Shareholding
Braemar Shipping Services Plc (LSE: BMS), a leading
international provider of shipbroking, financial advisory and
logistics services to the shipping and energy industries, announces
that it granted the following awards under the Company's Long Term
Incentive Plan (the "LTIP") on 14 June 2021 to certain Persons
Discharging Managerial Responsibilities ("PDMRs") of the
Company:
James Gundy, Group Chief Executive Officer - LTIP award over
300,884 shares
Nicholas Stone, Group COO & Finance Director - LTIP award
over 88,495 shares
Peter Mason, General Counsel & Company Secretary - LTIP
award over 47,787 shares
These awards are nil cost options to acquire ordinary shares of
10p each in the Company and will vest in three years subject to
meeting the performance criteria and the rules of the LTIP. The
performance criteria are based on the Company's growth in absolute
Total Shareholder Return ("TSR") measured over a three-year
performance period ending on 13 June 2024. The amounts shown above
represent the maximum possible opportunity, which will vest if
growth in TSR is equivalent to a compound annual growth rate
("CAGR") of 22% or more per annum over the three-year performance
period. If CAGR over the performance period is less than 12% per
annum, none of the awards will vest; if CAGR is 12% per annum, 25%
of the award will vest; and if CAGR is between 12% and 22% per
annum, the vesting outcome will be calculated on a straight-line
basis between 25% and 100%.
TSR reflects movement in share price and reinvestment of
dividends over the performance period, with the share prices to be
used being the three-month averages ending on 13 June 2021 and 13
June 2024. To ensure sufficient stretch within the targets for
awards, the base point measurement (three-month average TSR to 13
June 2021) was raised by a further 10%.
Further information on the LTIP is contained in the Company's
2020 Annual Report.
The notifications set out below provide further details 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
James Gundy, Group Chief Executive Tel +44 (0) 20 3142 4100
Officer
Nick Stone, Group COO & Finance Director
Peter Mason, Company Secretary
finnCap
Matt Goode / James Thompson Tel +44 (0) 20 7220 0500
Buchanan
Charles Ryland / Victoria Hayns / Tel +44 (0) 20 7466 5000
Stephanie Watson / Matilda Abraham
Notes to Editors:
About Braemar Shipping Services Plc
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 offices
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 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 300,884
-------------------------- --------------------------------------
d) Aggregated information
- Aggregated volume 300,884 ordinary shares of 10p each
- Price Nil
-------------------------- --------------------------------------
e) Date of the transaction 14/06/2021
-------------------------- --------------------------------------
f) Place of the transaction Outside of a trading venue
-------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Nick Stone
-------------------------- -------------------------------------
2 Reason for the notification
-----------------------------------------------------------------
a) Position/status Group COO and Finance Director
-------------------------- -------------------------------------
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 88,495
-------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume 88,495 ordinary shares of 10p each
- Price Nil
-------------------------- -------------------------------------
e) Date of the transaction 14/06/2021
-------------------------- -------------------------------------
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 and 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 47,787
-------------------------- --------------------------------------
d) Aggregated information
- Aggregated volume 47,787 ordinary shares of 10p each
- Price Nil
-------------------------- --------------------------------------
e) Date of the transaction 14/06/2021
-------------------------- --------------------------------------
f) Place of the transaction Outside of a trading venue
-------------------------- --------------------------------------
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END
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