Director/PDMR Shareholding
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Braemar Plc (LSE: BMS), a leading provider of expert investment, chartering and risk management advice to the shipping and energy markets, announces that on 9 December 2024, James Gundy, Group Chief Executive Officer, exercised 199,494 nil cost options ("Options") granted under the Company's Long Term Incentive Plan ("LTIP") as set out below:
| LTIP award grant date | Vesting date | Two-year holding period end date | Number of Options exercised |
|---|---|---|---|
| 29 October 2018 | 26 May 2021 | 26 May 2023 | 33,294 |
| 1 July 2019 | 26 August 2022 | 26 August 2024 | 166,200 |
The 2018 and 2019 LTIP awards vested following the assessment of the applicable performance conditions which were disclosed in the 2021 remuneration report (page 58) and 2022 remuneration report (page 74), both reports are available on the Company's website at Financial Reports - Braemar.
The exercise of the Options under the LTIP, has been satisfied through the allocation of existing ordinary shares held by the Braemar Employee Share Ownership Plan; as such, no new ordinary shares have been issued. In order to cover tax and national insurance liabilities arising from the exercise of the Options, James Gundy sold 94,112 shares on 9 December 2024 and retained the balance of 105,382 shares.
Following the above transactions, James Gundy's total shareholding is now 988,907 (being 3% of the Company's issued share capital). A separate TR-1 notification will be released in line with provisions in Chapter 5 of the Disclosure Guidance and Transparency Rules.
| Description of the financial instrument, type of instrument | Ordinary shares of 10 pence each | |
| Identification code | GB0000600931 | |
| Nature of the transaction | Exercise of Options granted under the Company's LTIP in 2018 | |
| Price(s) and volume(s) | Price: £0.00 | Volume: 33,294 |
| Aggregated information - Price - Aggregated volume | Price: £ 0.00 Volume: 33,294 | |
| Date of the transaction | 9 December 2024 | |
| Place of the transaction | Exercise of Options occurred outside a trading venue | |
| Description of the financial instrument, type of instrument | Ordinary shares of 10 pence each | |
| Identification code | GB0000600931 | |
| Nature of the transaction | Exercise of Options granted under the Company's LTIP in 2019 | |
| Price(s) and volume(s) | Price: £0.00 | Volume: 166,200 |
| Aggregated information - Price - Aggregated volume | Price: £ 0.00 Volume: 166,200 | |
| Date of the transaction | 9 December 2024 | |
| Place of the transaction | Exercise of Options occurred outside a trading venue | |
| Description of the financial instrument, type of instrument | Ordinary shares of 10 pence each | |
| Identification code | GB0000600931 | |
| Nature of the transaction | Sale of shares to cover tax and national insurance following exercise of Options granted under the Company's LTIP in 2018 and 2019 | |
| Price(s) and volume(s) | Price: £2.537266 | Volume: 94,112 |
| Aggregated information - Price - Aggregated volume | Price: £238,787.18 Volume: 94,112 | |
| Date of the transaction | 9 December 2024 | |
| Place of the transaction | London Stock Exchange ( XLON) |
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