RNS out by Seafox19 Mar 2019 08:26
Seafox International Limited
18 March 2019
ANNOUNCEMENT
Seafox International Limited ("Seafox")
GMS GENERAL MEETING RESULTS 18TH MARCH 2019 18th March 2019
Gulf Marine Services plc ("GMS")
Seafox International Limited ("Seafox"), a 13.7% shareholder in GMS, makes the following statement regarding the outcome of the GMS 18(th) March 2019 General
Meeting.
Although our proposed resolutions for the Director appointments of Mr Mazrui and Mr Halbouny were ultimately unsuccessful, we would like to acknowledge and thank our fellow Shareholders for the significant support, of 43.7% and 33.5% respectively, received in favour of our proposals.
We would also like to recognize the positive impacts that our investment has already brought to GMS, through the Board recognition of the need for restructure, a new Chairmanship and the need for significantly increased oversight on both performance and costs. We believe there is now a clear recognition that GMS cannot simply continue with the existing cost structure.
We will continue to monitor the situation and performance of GMS as a significant Shareholder.
Seafox International Limited
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