29 May 2020 07:03
FOR IMMEDIATE RELEASE |
29 May 2020 |
Gulf Marine Services PLC ("the Company")
Grant of Director Share Awards
Gulf Marine Services announces that its Chief Financial Officer, Stephen Kersley, was granted on 29 May 2020 the following conditional share award over ordinary shares of £0.10 each in the Company under the Company's Long Term Incentive Plan (the "Plan").
Name | Position | No of awards granted |
Stephen Kersley | Chief Financial Officer | 1,025,333 |
This award will generally vest three years from the date of grant, subject to the satisfaction of certain performance conditions and a subsequent two year holding period.
Also, on the same date, the Company's Executive Chairman, Tim Summers, was granted the following conditional share award over ordinary shares of £0.10 each in the Company under specific arrangements entered into following consultation with the Company's major shareholders.
Name | Position | No of awards granted |
Tim Summers | Executive Chairman | 2,000,000 |
This award will normally vest on achievement on certain performance conditions, subject to a holding period of three years from the date of the grant. Settlement of the award is subject to shareholder approval at the Company's forthcoming Annual General Meeting which will be held at 12 noon on Tuesday, 30 June 2020.
For further information, please contact:
Tony Hunter
Company Secretary
+ 44 (0)207 603 1515
1
| Details of the person discharging managerial responsibilities | |||||
a) | Name | STEPHEN KERSLEY | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Financial Officer
| ||||
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
Identification code
| ORDINARY SHARES OF £0.10 EACH
GB00BJVWTM27 | ||||
b)
| Nature of the transaction
| Grant of conditional share award under the Gulf Marine Services PLC Long-Term Incentive Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
| N/A single transaction
| ||||
e)
| Date of the transaction
| 2020-05-29 | ||||
f)
| Place of the transaction
| Outside a trading venue | ||||
1
| Details of the person discharging managerial responsibilities | |||||
a) | Name | TIM SUMMERS | ||||
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
Identification code
| ORDINARY SHARES OF £0.10 EACH
GB00BJVWTM27 | ||||
b)
| Nature of the transaction
| Grant of conditional share award | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
| N/A single transaction
| ||||
e)
| Date of the transaction
| 2020-05-29 | ||||
f)
| Place of the transaction
| Outside a trading venue | ||||
Gulf Marine Services (GMS)