REG - Gulf Marine Services - Grant of Director Share Awards

Gulf Marine ServicesAnnouncement

29/05/2020 07:05

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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