REG - Gulf Marine Services - Result of Annual General Meeting

Gulf Marine ServicesAnnouncement

29/05/2025 13:15

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RNS Number : 6501K  Gulf Marine Services PLC  29 May 2025

 FOR IMMEDIATE RELEASE  29 May 2025

 

Gulf Marine Services PLC

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

 

Results of Annual General Meeting ("AGM")

 

The Company announces that at its Annual General Meeting held at Gulf Marine
Services WLL, Office 403, International Tower, 24th (Karama) Street, Abu
Dhabi, United Arab Emirates at 2.30pm (UAE time) today, all resolutions put
before the meeting were duly passed.

 

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                565,965,422                                   99.99  30,916      0.01  565,996,338                  1,034,028

 year ended 31 December 2024.
 2.   To receive and approve the Directors' Remuneration Report included in      565,141,734                                   99.77  1,325,142   0.23  566,466,876                  563,490
 the Annual Report and Accounts for the financial year ended 31 December 2024.
 3.   To re-appoint Mansour Al Alami as a Director.                              488,380,584                                   96.26  18,962,974  3.74  507,343,558                  59,686,808
 4.   To re-appoint Lord Anthony St John of Bletso as a Director.                559,763,765                                   98.78  6,905,805   1.22  566,669,570                  360,796
 5.   To re-appoint Charbel El Khoury as a Director.                             523,531,017                                   99.05  5,025,945   0.95  528,556,962                  38,473,404
 6.   To re-appoint Jyrki Koskelo as a Director.                                 560,034,393                                   98.83  6,635,177   1.17  566,669,570                  360,796
 7.   To re-appoint Haifa Al Mubarak as a Director.                              556,827,917                                   98.71  7,270,653   1.29  564,098,570                  2,931,796
 8.   To re-appoint KPMG as Auditor.                                             566,481,648                                   99.97  188,813     0.03  566,670,461                  359,905
 9.   To authorise the Audit and Risk Committee, for and on behalf of the        566,565,466                                   99.98  121,645     0.02  566,687,111                  343,255
 Directors, to agree the Auditor's remuneration.
 10.  To authorise the Company to make market purchases of its own shares        566,582,270                                   99.97  146,146     0.03  566,728,416                  301,950
 (s.701 of the Companies Act 2006).(3)
 11.  To approve the Company's Long Term Incentive Plan (the "LTIP"), the        565,208,388                                   99.76  1,364,913   0.24  566,573,301                  457,065
 rules of which are summarised in Appendix III to the Notice of 2025 Annual
 General Meeting, and to authorise the Directors of the Company to do all such
 things as may be necessary to establish and carry the LTIP into effect.
 12. To authorise the Directors to call general meetings of the Company (other   565,243,935                                   99.74  1,456,737   0.26  566,700,672                  329,694
 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 29
May 2025 were 1,129,946,314 ordinary shares of 2 pence each. Ordinary
shareholders are entitled to one vote per ordinary share held. No shares were
held in treasury.

 

In accordance with UKLR 6.4.2R, 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 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 (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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