REG - Gulf Marine Services - Grant of Director Share Awards

Gulf Marine ServicesAnnouncement

11/06/2025 14:45

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250611:nRSK4453Ma&default-theme=true

RNS Number : 4453M  Gulf Marine Services PLC  11 June 2025

 

 FOR IMMEDIATE RELEASE   11 June 2025

 

Gulf Marine Services PLC ("the Company")

Grant of Director Share Awards

Gulf Marine Services announces that Executive Chairman, Mansour Al Alami, was
today granted share awards in the form of nil-cost options over ordinary
shares of £0.02 each in the Company ("Shares") under the Company's Long Term
Incentive Plan (the "Plan").

These awards are as summarised in the Company's Director's Remuneration Report
(the "DRR") contained in its annual report for the year ended 31 December
2024. The DRR and Plan were approved by shareholders at the Company's Annual
General Meeting held on 29 May 2025.

The share awards are as follows:

1.      Long-term incentive Awards ("LTIP Awards") as set out below:

 Name              Position            No of LTIP Awards granted
 Mansour Al Alami  Executive Chairman  3,289,770

 

These LTIP Awards will generally vest three years from the grant date, subject
to the achievement of performance conditions aligned with shareholder
interests as follows:-

-     vesting of 50% of each LTIP Award is based on the total shareholder
return ("TSR")* for a Share of the Company measured over the three calendar
years ending 31 December 2027 relative to the TSR of the constituent companies
of the FTSE SmallCap Index of which the Company is a member; and

-     vesting of 50% of each LTIP Award is based on the TSR for a Share of
the Company measured over the three calendar years ending 31 December 2027
relative to the TSR of a group of comparative companies selected with the
input of the Company's brokers.

*As a measure of overall return, TSR takes into account both movements in
share price and any dividends paid.

The LTIP Awards are also subject to a subsequent two-year post-vesting holding
period.

 

2.      Deferred Share Bonus Plan Awards ("DSBP Awards") under Schedule 2
of the Plan as set out below:-

 

 

 Name              Position            No of DSBP Awards granted
 Mansour Al Alami  Executive Chairman  271,403

 

The number of Shares granted is equivalent to the relevant proportion of the
2024 annual bonus deferred under the terms of the shareholder-approved
Directors' Remuneration Policy.

 

Subject to and in terms of the Plan, these Shares will generally vest after
two years from 1 January 2025.

 

 Enquiries:                 Tel: +44 (0)20 7603 1515

Gulf Marine Services PLC

 Tony Hunter

 Company Secretary

 Celicourt Communications   Tel: +44 (0) 20 7770 6424

 Mark Antelme

 Philip Dennis

 Ali AlQahtani

 

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 offshore energy industries from its offices in the United Arab
Emirates, Saudi Arabia, Qatar and the United Kingdom. The Group's assets are
capable of serving clients' requirements across the globe, including those in
the Middle East, Europe, South East Asia, West Africa, North and South
America, and the Gulf of Mexico.

 

The GMS fleet of 14 SESVs is amongst the youngest in the industry. The vessels
support GMS's clients in a broad range of offshore platform refurbishment and
maintenance activities, well intervention work, and offshore wind turbine
maintenance work (which are opex‐led activities), as well as offshore
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 LTIP Awards in the form of nil-cost options under the Company's

                                                            Long-Term Incentive Plan

 c)   Price(s) and volume(s)

Price(s)  Volume(s)
                                                                   £0.00     3,289,770

 d)   Aggregated information                                       N/A single transaction

 e)   Date of the transaction                                      2025/06/11

 f)   Place of the transaction                                     Outside a trading venue

d)

 

Aggregated information

 

 

N/A single transaction

 

e)

 

Date of the transaction

 

2025/06/11

f)

 

Place of the transaction

 

Outside a trading venue

 

 

 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 DSBP Awards in the form of nil cost options under Schedule 2 of the

                                                            Company's Long Term Incentive Plan

 c)   Price(s) and volume(s)

Price(s)  Volume(s)
                                                                   £0.00     271,403

 d)   Aggregated information                                       N/A single transaction

 e)   Date of the transaction                                      2025/06/11

 f)   Place of the transaction                                     Outside a trading venue

d)

 

Aggregated information

 

 

N/A single transaction

 

e)

 

Date of the transaction

 

2025/06/11

f)

 

Place of the transaction

 

Outside a trading venue

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHFBMJTMTTBBPA