Share Purchase by a Director

RNS Number : 9906O

Gulf Marine Services PLC

13 October 2021

 

FOR IMMEDIATE RELEASE

13 October 2021

Gulf Marine Services PLC

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

DIRECTORS/PDMR SHAREHOLDINGS

Share Purchase by a Director

The Company has today been notified that Mansour Al Alami, the Executive Chairman of the Company, has today purchased 529,800 Gulf Marine Services plc ordinary shares ("Shares") at an average purchase price of £0.043 per Share. The Shares were purchased on the open market.

 

Following this transaction, Mansour Al Alami holds 2,202,000 Shares, representing 0.22% of the issued share capital of the Company.

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 .

	Details of the person discharging managerial responsibilities
	Name	MANSOUR AL ALAMI
	Reason for the notification
	Position/status	EXECUTIVE CHAIRMAN
	Initial notification /Amendment	INITIAL NOTIFICATION
	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
	Name	GULF MARINE SERVICES PLC
	LEI	213800IGS2QE89SAJF77
	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
	Description of the financial instrument, type of instrument Identification code	ORDINARY SHARES OF £0.02 EACH GB00BJVWTM27
	Nature of the transaction	Acquisition of shares
	Price(s) and volume(s)	Price(s) Volume(s) £0.0434 523800 £0.0423 4700 £0.0424 1300
	Aggregated information   - Aggregated volume - Price	529800 £22,986.85
	Date of the transaction	13/10/2021
	Place of the transaction	London Stock Exchange, XLON

 

END

 

 

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