Business
Issue of Shares / PDMR Shareholding
Issue of Shares / PDMR Shareholding.
About this update from Braemar Plc
[{"type":"text","content":"\n \n \n \n \n \n 22 December 2022\n \n \n \n \n BRAEMAR PLC\n \n \n \n (\"Braemar\", the \"Company\" or the \"Group\")\n \n \n \n Issue of Shares / PDMR Shareholding\n \n \n \n \n \n \n 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.\n \n \n The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.\n \n \n 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.\n 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.\n \n \n Following this share issue, the total holding of Ordinary Shares of Axel Siepmann (including those persons closely associated with him) is as follows:\n \n \n \n \n \n \n \n Name\n \n \n \n \n \n \n Title\n \n \n \n \n \n \n Shares\n \n \n \n \n \n \n % of Company's issued share capital\n \n \n \n \n \n \n \n \n Axel Siepmann\n \n \n \n \n \n Managing Director of Braemar Corporate Finance\n \n \n \n \n 164,444\n \n 1\n \n \n \n \n \n 0.50%\n \n \n \n \n \n \n \n 1\n \n \n \n \n Includes 86,308 Ordinary Shares held by an entity jointly owned by Axel Siepmann.\n \n \n Connected parties of Axel Siepmann and the other sellers of Braemar Corporate Finance continue to hold convertible loan notes issued as consi...