REG - Gulf Marine Services - Grant of Director Share Awards

Gulf Marine ServicesAnnouncement

15/06/2022 07:30

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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:                 Tel: +44 (0)20 7603 1515

Gulf Marine Services PLC

 Mansour Al Alami

 Executive Chairman
 Celicourt Communications   Tel: +44 (0) 208 434 2643

 Mark Antelme

 Philip Dennis

 

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  ORDINARY SHARES OF £0.02 EACH

      Identification code

                                                                   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

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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