Last checked at 19 Oct 2022 15:10
FOR IMMEDIATE RELEASE | 19 October 2022 |
Gulf Marine Services PLC
('Gulf Marine Services', 'GMS', the 'Company' or the 'Group')
Results of General Meeting
The General Meeting of Gulf Marine Services PLC was held on Wednesday, 19 October 2022.
The General Meeting was convened to consider the resolution required in order to satisfy certain obligations of the Company under the terms of the 2021 Master Amendment Agreement, further details of which were set out in the Circular to the Company's shareholders dated 28th September 2022. The resolution was voted on by way of a poll and was passed by the requisite majority of shareholders. The results of the poll are shown in the table below and will shortly be available on the Company's website, www.gmsplc.com.
Resolution | Votes in Favour | % | Votes Against | % | Total Votes (excluding votes withheld) | Votes Withheld1 |
To authorise the Directors to allot shares (s551 of the Companies Act 2006). | 423,531,463 | 100.00% | 8,153 | 0.00% | 423,539,616 | 42,615 |
Notes:
1) A vote "Withheld" is not a vote in law and is not counted in the calculation of the votes "For" or "Against" a resolution.
2) As at today's date, the Company has a total of 1,016,414,582 ordinary shares of 2 pence each in issue. Ordinary shareholders are entitled to one vote per ordinary share held. No shares are held in treasury.
The Circular to shareholders including the notice of the General Meeting incorporating the full text of the resolution can be found on the Company's website at www.gmsplc.com .
In accordance with LR 9.6.2R, a copy of the resolution passed at the General Meeting has also 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.
Enquiries: GMS Mansour Al Alami, Executive Chairman
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+44 (0) 207 603 1515 |
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Celicourt Communications Mark Antelme Philip Dennis | +44 (0) 208 434 2643 |
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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