RNS Number : 4417Z

Gulf Marine Services PLC

25 January 2022

 FOR IMMEDIATE RELEASE   25 January 2022 

Gulf Marine Services PLC

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


Share Purchase by a Director

The Company was notified on 24 January 2022 that on the same day, Mansour Al Alami, the Executive Chairman of the Company, purchased 191,000 Gulf Marine Services plc ordinary shares ("Shares") at an average purchase price of GBP0.06 per Share. The Shares were purchased on the open market.

Following this transaction, Mansour Al Alami holds 2,393,000 Shares, representing 0.23% of the issued share capital of the Company.


 Gulf Marine Services PLC        Tel: +44 (0)20 7603 1515 
  Mansour Al Alami 
  Executive Chairman 
 Celicourt Communications        Tel: +44 (0) 20 8434 2754 
  Mark Antelme / Philip Dennis 

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



The content of the Gulf Marine Services PLC website should not be considered to form a part of or be incorporated into this announcement .

   Details of the person discharging managerial responsibilities 
   Name                                       MANSOUR AL ALAMI 
  -----------------------------------------  ---------------------------- 
   Reason for the notification 
   Position/status                            EXECUTIVE CHAIRMAN 
  -----------------------------------------  ---------------------------- 
   Initial notification /Amendment            INITIAL NOTIFICATION 
  -----------------------------------------  ---------------------------- 
   Details of the issuer, emission allowance market participant, 
    auction platform, auctioneer or auction monitor 
   Name                                       GULF MARINE SERVICES PLC 
  -----------------------------------------  ---------------------------- 
   LEI                                        213800IGS2QE89SAJF77 
  -----------------------------------------  ---------------------------- 
   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 
   Description of the financial instrument,   ORDINARY SHARES OF GBP0.02 
    type of instrument                         EACH 
    Identification code 
  -----------------------------------------  ---------------------------- 
   Nature of the transaction                  Acquisition of shares 
  -----------------------------------------  ---------------------------- 
   Price(s) and volume(s)                      Price(s)     Volume(s) 
                                                GBP0.0608    80000 
                                                GBP0.0606    36000 
                                                GBP0.0588    75000 
  -----------------------------------------  ---------------------------- 
   Aggregated information 
    - Aggregated volume                         191000 
    - Price 
  -----------------------------------------  ---------------------------- 
   Date of the transaction                    24/01/2022 
  -----------------------------------------  ---------------------------- 
   Place of the transaction                   London Stock Exchange, XLON 
  -----------------------------------------  ---------------------------- 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.



(END) Dow Jones Newswires

January 25, 2022 02:00 ET (07:00 GMT)

Gulf Marine Services (LSE:GMS)
Historical Stock Chart
From Jul 2022 to Aug 2022 Click Here for more Gulf Marine Services Charts.
Gulf Marine Services (LSE:GMS)
Historical Stock Chart
From Aug 2021 to Aug 2022 Click Here for more Gulf Marine Services Charts.