REG - Gulf Marine Services - Result of AGM

Gulf Marine ServicesAnnouncement

07/06/2023 13:30

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RNS Number : 9879B  Gulf Marine Services PLC  07 June 2023

 FOR IMMEDIATE RELEASE  7 June 2023

 

Gulf Marine Services PLC

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

 

Results of Annual General Meeting ("AGM")

 

The AGM of Gulf Marine Services PLC was held at Gulf Marine Services WLL,
Office 403, International Tower, 24th (Karama) Street, Abu Dhabi, United Arab
Emirates at 2.30pm (UAE time) on Wednesday, 7 June 2023.

 

Voting was conducted on a poll, the results of which are shown in the table
below and will shortly be available on the Company's website, www.gmsplc.com.

 

 Resolution                                                                      Votes in Favour (including discretionary)(1)  %        Votes        %       Total Votes                  Votes Withheld(2)

                    (excluding votes withheld)
                                                                                                                                        Against
 1.    To receive the Annual Report and Accounts for the financial year          700,521,619                                   100.00%  199          0.00%   700,521,818                  3,613,000
 ended 31 December 2022.
 2.    To receive and approve the Directors' Remuneration Report included in     700,501,822                                   99.48%   3,632,496    0.52%   704,134,318                  500
 the Annual Report and Accounts for the financial year ended 31 December 2022.
 3.    To re-appoint Mansour Al Alami as a Director.                             388,111,920                                   55.12%   316,022,898  44.88%  704,134,818                  0
 4.    To re-appoint Hassan Heikal as a Director.                                655,234,220                                   93.06%   48,900,598   6.94%   704,134,818                  0
 5.    To re-appoint Rashed Al Jarwan as a Director.                             692,934,652                                   98.41%   11,200,166   1.59%   704,134,818                  0
 6.    To re-appoint Lord Anthony St John of Bletso as a Director.               692,934,351                                   98.41%   11,200,467   1.59%   704,134,818                  0
 7.    To re-appoint Charbel El Khoury as a Director.                            692,934,152                                   98.41%   11,200,666   1.59%   704,134,818                  0
 8.    To re-appoint Jyrki Koskelo as a Director.                                690,363,152                                   98.04%   13,771,666   1.96%   704,134,818                  0
 9.    To re-appoint KPMG as Auditor.                                            700,460,308                                   100.00%  11,510       0.00%   700,471,818                  3,663,000
 10.   To authorise the Audit and Risk Committee, for and on behalf of the       700,521,619                                   99.49%   3,613,199    0.51%   704,134,818                  0
 Directors, to agree the Auditor's remuneration.
 11. To authorise the Directors to allot shares (s551 of the Companies Act       357,927,859                                   50.84%   346,156,959  49.16%  704,084,818                  50,000
 2006) in connection with a Rights issue.
 12. To disapply pre-emption rights (s.570 and s.573 of the Companies Act 2006)  349,326,584                                   49.61%   354,758,234  50.39%  704,084,818                  50,000
 in connection with a Rights issue.(3)
 13.  To authorise the Directors to call general meetings of the Company         700,460,507                                   99.49%   3,624,311    0.51%   704,084,818                  50,000
 (other than an annual general meeting) on not less than 14 clear days'
 notice.(3)

Notes:

1)          Any proxy appointments giving discretion to the Chairman
of the Meeting have been included in the "For" totals above.

2)          A vote "Withheld" is not a vote in law and is not counted
in the calculation of the votes "For" or "Against" a resolution.

3)          Indicates special resolutions requiring a 75% majority of
votes cast in favour to be passed.

 

The Company's total ordinary shares in issue (total voting rights) as at 7
June 2022 was 1,016,414,582 ordinary shares of 2 pence each. Ordinary
shareholders are entitled to one vote per ordinary share held. No shares were
held in treasury.

 

The Company announces that resolutions 1 to 11 (inclusive), and resolution 13
were passed by the requisite majorities of the Company's shareholders.
Resolution 12, which was a special resolution requiring the approval of
shareholders representing at least 75% of the shares voted at the meeting, was
not passed by the requisite majority.  The Board continues to consult with
substantial shareholders on their views and, in accordance with paragraph 4 of
the UK Corporate Governance Code, will publish an update on views received
from shareholders, and actions taken, no later than six months after the AGM,
and a final summary together with any further steps in the next annual report.

 

The full text of the resolutions may be found in the notice of the AGM, copies
of which are available on both the Company's website at www.gmsplc.com
(http://www.gmsplc.com) and on the National Storage Mechanism at
https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism
(https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism)
.

 

In accordance with LR 9.6.2R, copies of all resolutions passed at the AGM
concerning items other than ordinary business have been submitted to the
National Storage Mechanism and will shortly be available for inspection at:
https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism
(https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism)
.

 

Enquiries:

 Gulf Marine Services PLC                       Tel: +44 (0)20 7603 1515

 Mansour Al Alami

 Executive Chairman

 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 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. 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 categorized 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 (http://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.

 

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