Directorate Change

Gulf Marine Services PLC

04 August 2023

 

FOR IMMEDIATE RELEASE

4 August 2023

Gulf Marine Services PLC

('Gulf Marine Services', 'GMS', the 'Company' or the 'Group')

DIRECTORATE CHANGE

Rashed Al Jarwan Stepping down from the Board

Rashed Al Jarwan, a Non-Executive Director of the Company since 2020, has today notified that for personal reasons he is retiring from the Board with immediate effect. The Board will miss his presence and records its appreciation for his substantial input to the Company over the past three years.

Lord Anthony St John of Bletso, another non-executive Director of the Company, has been appointed as Senior Independent Director with immediate effect. The Board intends to appoint an additional non-executive Director in due course.

Mansour Al Alami, Chairman, commented "On behalf of the whole Board, I would like to thank Rashed for his substantial contribution to the Company over the past three years helping guide the Group through its turnaround. Rashed leaves the Board with our best wishes for the future."

Enquiries:

Gulf Marine Services PLC Mansour Al Alami Executive Chairman	Tel: [phone]
Celicourt Communications Mark Antelme / Philip Dennis / Ali AlQahtani	Tel: [phone]

Notes to Editors:

Gulf Marine Services PLC, a company listed on the London Stock Exchange, was founded in Abu Dhabi in 1977 and has become a world leading provider of advanced self‐propelled self‐elevating support vessels (SESVs). The fleet serves the oil, gas and renewable energy industries from its offices in the United Arab Emirates, Saudi Arabia and Qatar.

The Group's assets are capable of serving clients' requirements across the globe, including those in the Middle East, South East Asia, West Africa, North America, the Gulf of Mexico and Europe. The GMS fleet of 13 SESVs is amongst the youngest in the industry. The vessels support GMS's clients in a broad range of offshore oil and gas platform refurbishment and maintenance activities, well intervention work and offshore wind turbine maintenance work (which are opex‐led activities), as well as offshore oil and gas platform installation and decommissioning and offshore wind turbine installation (which are capex‐led activities).

The SESVs are categorized by size ‐ K‐Class (Small), S‐Class (Mid) and E‐Class (Large) ‐ with these capable of operating in water depths of 45m to 80m depending on leg length. The vessels are four‐legged and are self‐propelled, which means they do not require tugs or similar support vessels for moves between locations in the field; this makes them significantly more cost‐effective and time‐efficient than conventional offshore support vessels without self‐propulsion. They have a large deck space, crane capacity and accommodation facilities (for up to 300 people) that can be adapted to the requirements of the Group's clients.

Gulf Marine Services PLC's Legal Entity Identifier is 213800IGS2QE89SAJF77

www.gmsplc.com

Disclaimer

The content of the Gulf Marine Services PLC website should not be considered to form a part of or be incorporated into this announcement.

 

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