Grant of Director Share Awards

RNS Number : 3405O

Gulf Marine Services PLC

29 May 2020

 

FOR IMMEDIATE RELEASE

29 May 2020

Gulf Marine Services PLC ("the Company")

Grant of Director Share Awards

Gulf Marine Services announces that its Chief Financial Officer, Stephen Kersley, was granted on 29 May 2020 the following conditional share award over ordinary shares of £0.10 each in the Company under the Company's Long Term Incentive Plan (the "Plan").

Name	Position	No of awards granted
Stephen Kersley	Chief Financial Officer	1,025,333

This award will generally vest three years from the date of grant, subject to the satisfaction of certain performance conditions and a subsequent two year holding period.   

Also, on the same date, the Company's Executive Chairman, Tim Summers, was granted the following conditional share award over ordinary shares of £0.10 each in the Company under specific arrangements entered into following consultation with the Company's major shareholders.  

Name	Position	No of awards granted
Tim Summers	Executive Chairman	2,000,000

This award will normally vest on achievement on certain performance conditions, subject to a holding period of three years from the date of the grant. Settlement of the award is subject to shareholder approval at the Company's forthcoming Annual General Meeting which will be held at 12 noon on Tuesday, 30 June 2020.

For further information, please contact:

Tony Hunter

Company Secretary

+ 44 (0)207 603 1515

1	Details of the person discharging managerial responsibilities
a)	Name	STEPHEN KERSLEY
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	GULF MARINE SERVICES PLC
b)	LEI	213800IGS2QE89SAJF77
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 financial instrument, type of instrument Identification code	ORDINARY SHARES OF £0.10 EACH GB00BJVWTM27
b)	Nature of the transaction	Grant of conditional share award under the Gulf Marine Services PLC Long-Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 1,025,333
d)	Aggregated information	N/A single transaction
e)	Date of the transaction	2020-05-29
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities
a)	Name	TIM SUMMERS
2	Reason for the notification
a)	Position/status	Executive Chairman
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	GULF MARINE SERVICES PLC
b)	LEI	213800IGS2QE89SAJF77
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 financial instrument, type of instrument Identification code	ORDINARY SHARES OF £0.10 EACH GB00BJVWTM27
b)	Nature of the transaction	Grant of conditional share award
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 2,000,000
d)	Aggregated information	N/A single transaction
e)	Date of the transaction	2020-05-29
f)	Place of the transaction	Outside a trading venue

 

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