Braemar PLC Issue of Shares / PDMR Shareholding (5939K)

TIDMBMS

RNS Number : 5939K

Braemar PLC

22 December 2022

BRAEMAR PLC

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

Issue of Shares / PDMR Shareholding

Braemar, a leading international Shipbroker and provider of expert advice in shipping investment, chartering and risk management announces that application has been made for 37,636 new ordinary shares of 10p each in the capital of the Company ("Ordinary Shares") to be admitted to the Official List of the UK Listing Authority and to trading on London Stock Exchange's Main Market for listed securities ('Admission'). It is expected Admission will become effective and trading will commence at 8.00 a.m. on 5 January 2023.

The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.

The new Ordinary Shares have been allotted as part of the agreed rescheduling of deferred consideration amounts owed by Braemar in relation to its acquisition of Braemar Corporate Finance (formerly known as "Braemar NAVES"), as previously announced on 3 June 2021. The new Ordinary Shares will be allotted in satisfaction of amounts due for repayment to persons closely associated with Axel Siepmann, a Managing Director of Braemar Corporate Finance and a PDMR of the Company, and Mark Kuchenbecker, a former Managing Director of Braemar Corporate Finance and former PDMR of the Company. The new Ordinary Shares were subscribed for at 315.7p per share, which was calculated using the volume weighted average price per Ordinary Share for the 30 consecutive trading days prior to subscription.

Following this share issue, the total holding of Ordinary Shares of Axel Siepmann (including those persons closely associated with him) is as follows:

 
 Name             Title                      Shares      % of Company's 
                                                          issued share 
                                                             capital 
===============  =======================  ============  =============== 
                  Managing Director 
                   of Braemar Corporate 
 Axel Siepmann     Finance                 164,444 (1)       0.50% 
===============  =======================  ============  ===============

(1) Includes 86,308 Ordinary Shares held by an entity jointly owned by Axel Siepmann.

Connected parties of Axel Siepmann and the other sellers of Braemar Corporate Finance continue to hold convertible loan notes issued as consideration for the acquisition of Braemar Corporate Finance in 2017 amounting to approximately EUR4.4m. Further information on these loan notes and their redemption dates can be found in the 3 June 2021 announcement, the Company's 2022 Annual Report and the original acquisition circular, each of which are available on the Company's website.

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.

Following Admission and allotment of the shares, the Company's issued share capital will comprise 32,636,872 Ordinary Shares, which figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules. The Company does not hold any shares in treasury.

For further information, contact:

 
 Braemar Plc 
 James Gundy, Group Chief Executive                Tel +44 (0) 20 3142 4100 
  Officer 
 Nick Stone, Group Chief Financial Officer 
 
 Investec Bank Plc 
 Gary Clarence / Harry Hargreaves /                Tel +44 (0) 20 7597 5970 
  Alice King 
 Cenkos Securities plc 
  Ben Jeynes / Max Gould (Corporate Finance)       Tel +44 (0) 20 7397 8900 
  Alex Pollen / Leif Powis (Sales) 
 
   Buchanan 
 Charles Ryland/ Stephanie Whitmore                Tel +44 (0) 20 7466 5000 
  / Jack Devoy

Notes to Editors:

About Braemar

Braemar provides expert advice in shipping investment, chartering, and risk management to enable its clients to secure sustainable returns and mitigate risk in the volatile world of shipping.

Braemar's experienced brokers work in tandem with specialist professionals to form teams tailored to its customers' needs, and provides 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, 
 please visit www.braemar.com and follow Braemar on LinkedIn 
 . 
 Details of the person discharging managerial responsibilities 
   / person closely associated 
  Name                       Siepmann & Cie. Verwaltungs GmbH 
  Reason for the notification 
  Position/status            Person closely associated with Axel 
                              Siepmann, Managing Director of Braemar 
                              Corporate Finance 
  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         Ordinary shares of 10p each 
   financial instrument, 
   type of instrument 
                              GB0000600931 
   Identification code 
  Nature of the transaction  Issue of ordinary shares of 10p each. 
  Price(s) and volume(s)     Price(s)  Volume(s) 
                              315.7     12,123 
  Aggregated information 
 
   - Aggregated volume        12,123 ordinary shares of 10p each 
 
   - Price                    GBP38,272.311 
  Date of the transaction    19 December 2022 
  Place of the transaction   Outside of a trading venue 
 
 
Details of the person discharging managerial responsibilities 
 / person closely associated 
Name                       CFC Beteiligungsgesellschaft mbH 
Reason for the notification 
Position/status            Person closely associated with Axel 
                            Siepmann, Managing Director of Braemar 
                            Corporate Finance 
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         Ordinary shares of 10p each 
 financial instrument, 
 type of instrument 
                            GB0000600931 
 Identification code 
Nature of the transaction  Issue of ordinary shares of 10p each. 
Price(s) and volume(s)      Price(s)  Volume(s) 
                             315.7p    13,390 
Aggregated information 
 
 - Aggregated volume         13,390 ordinary shares of 10p each 
 
 - Price                     GBP42,272.23 
Date of the transaction    19 December 2022 
Place of the transaction   Outside of a trading venue

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