Grant of Director Share Awards

RNS Number : 8788O

Gulf Marine Services PLC

15 June 2022

 

15 June 2022

Gulf Marine Services PLC ("the Company")

Grant of Director Share Awards

Gulf Marine Services announces that its Executive Chairman, Mansour Al Alami, was granted on 14 June 2022 the following nil-cost conditional share awards over ordinary shares of £0.02 each in the Company under the Company's Long Term Incentive Plan (the "Plan").

Name	Position	No of awards granted
Mansour Al Alami	Executive Chairman	7,000,000

These awards 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.   

Enquiries: Gulf Marine Services PLC Mansour Al Alami Executive Chairman	Tel: [phone]
Celicourt Communications Mark Antelme Philip Dennis	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, with an average age of eight years. 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 categorised 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.

1	Details of the person discharging managerial responsibilities
a)	Name	Mansour Al Alami
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 £0.02 EACH GB00BJVWTM27
b)	Nature of the transaction	Grant of nil cost 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 7,000,000
d)	Aggregated information	N/A single transaction
e)	Date of the transaction	2022-06-14
f)	Place of the transaction	Outside a trading venue

 

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