TIDMGMS

RNS Number : 3405O

Gulf Marine Services PLC

29 May 2020

 
 
         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 GBP0.10 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 GBP0.10 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          Initial notification 
       /Amendment 
     ----------------------------  ------------------------------------- 
 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            ORDINARY SHARES OF GBP0.10 EACH 
       financial instrument, 
       type of instrument 
                                     GB00BJVWTM27 
       Identification code 
     ----------------------------  ------------------------------------- 
 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)          Price(s)    Volume(s) 
                                       GBP0.00     1,025,333 
                                                  ---------- 
     ----------------------------  ------------------------------------- 
 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           Initial notification 
       /Amendment 
     -----------------------------  ------------------------------------ 
 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             ORDINARY SHARES OF GBP0.10 EACH 
       financial instrument, 
       type of instrument 
                                      GB00BJVWTM27 
       Identification code 
     -----------------------------  ------------------------------------ 
 b)   Nature of the transaction      Grant of conditional share award 
     -----------------------------  ------------------------------------ 
 c)   Price(s) and volume(s)           Price(s)    Volume(s) 
                                        GBP0.00     2,000,000 
                                                   ---------- 
     -----------------------------  ------------------------------------ 
 d)   Aggregated information         N/A single transaction 
     -----------------------------  ------------------------------------ 
 e)   Date of the transaction        2020-05-29 
     -----------------------------  ------------------------------------ 
 f)   Place of the transaction       Outside a trading venue 
     -----------------------------  ------------------------------------

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.

END

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