TIDMGMS
RNS Number : 8666E
Gulf Marine Services PLC
10 November 2020
FOR IMMEDIATE RELEASE 10 November 2020
Gulf Marine Services PLC
('GMS' or the 'Company')
Results of Requisitioned General Meeting held on 10 November
2020
The Company announces that at its general meeting requisitioned
by Seafox International Limited ("Seafox") held today (the
"Requisitioned General Meeting"), the resolutions put to
Shareholders (the "Resolutions") were duly passed on a poll. The
results of the poll are reported below.
Full details of the Resolutions, together with explanatory
notes, are set out in the Company's Circular to Shareholders
including the Notice of General Meeting dated 13 October 2020 which
is available on the Company's website at www.gmsuae.com .
The Resolutions were all proposed as ordinary resolutions.
Resolutions For % Against(1) % Withheld(2) Total Votes
(excluding
votes withheld)
1. To appoint
Rashad Saif Al
Jarwan as a director
of the Company 208,490,842 69.00 93,648,951 31.00 44 302,139,793
------------ ------ ------------ ------ ------------ -----------------
2. To appoint
Mansour Al Alami
as a director
of the Company 174,112,162 57.63 128,027,631 42.37 44 302,139,793
------------ ------ ------------ ------ ------------ -----------------
3. To appoint
Saeed Mer Abdulla
Khoory as a director
of the Company 174,112,162 57.63 128,027,631 42.37 44 302,139,793
------------ ------ ------------ ------ ------------ -----------------
4. To remove Mike
Turner as a director
of the Company 174,406,236 57.72 127,733,557 42.28 44 302,139,793
------------ ------ ------------ ------ ------------ -----------------
5. To remove David
Blewden as a director
of the Company 174,406,236 57.72 127,733,557 42.28 44 302,139,793
------------ ------ ------------ ------ ------------ -----------------
6. To remove Mo
Bississo as a
director of the
Company 170,890,508 56.56 131,249,285 43.44 44 302,139,793
------------ ------ ------------ ------ ------------ -----------------
7. To remove Dr.
Shona Grant as
a director of
the Company 174,114,201 57.63 128,025,592 42.37 44 302,139,793
------------ ------ ------------ ------ ------------ -----------------
Notes:
1. Any proxy appointments giving the discretion to the Chairman
of the General Meeting have been included in
the " Against " totals above.
2. A vote "Withheld" is not a vote in law and is not counted in
the calculation of the votes "For" or "Against" a resolution.
3. The Company's total ordinary shares in issue (and total
voting rights) as at 10 November 2020 is 350,487,787 ordinary
shares of 10 pence each. Ordinary shareholders are entitled to one
vote per ordinary share held. No shares were held in treasury at
that date. The votes cast, together with votes withheld, amount to
86.21 % of the total issued share capital.
The Company confirms the appointments of Rashad Saif Al Jarwan,
Mansour Al Alami and Saeed Mer Abdulla Khoory to the Board with
effect from today. Further information about the new Directors
(including details, if any referred to in LR9.6.13R) will be
announced in due course.
As a result of these votes, the Company announces that:
-- the appointment to the Board of Mr. Mike Turner, Independent
Non-Executive Director, Senior Independent Director and Chairman of
the Remuneration Committee, ceased with effect from the end of the
Requisitioned General Meeting;
-- the appointment to the Board of Mr. David Blewden,
Independent Non-Executive Director, and Chairman of the Audit
Committee, ceased with effect from the end of the Requisitioned
General Meeting;
-- the appointment to the Board of Mr. Mo Bississo,
Non-Executive Director, ceased with effect from the end of the
Requisitioned General Meeting;
-- the appointment to the Board of Dr. Shona Grant, Independent
Non-Executive Director, ceased with effect from the end of the
Requisitioned General Meeting;
-- Mr. Tim Summers, the Company's Executive Chairman, Chairman
of the Nomination Committee and Chief Executive Officer has stepped
down from the Board with immediate effect. In addition, he will
leave his role as Chief Executive Officer of the Company following
a period of notice; and
-- Mr. Stephen Kersley, Chief Financial Officer, will leave the
Company following a period of notice.
In accordance with paragraph 4 of the UK Corporate Governance
Code, the Board will publish an update on views received from
shareholders, and actions taken, within six months of the General
Meeting, and a final summary together with any further steps in the
next annual report.
In accordance with LR 9.6.2R, copies of all resolutions passed
at the General Meeting concerning items other than ordinary
business have 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
Tim Summers, Executive Chairman +44 (0) 207 603
Tony Hunter, Company Secretary 1515
Brunswick (PR Adviser to GMS) +44 (0) 20 7404
Patrick Handley - UK 5959
Will Medvei - UK +971 (0) 50 600
Jade Mamarbachi - UAE 3829
------------------
MAR
The information contained within this announcement is considered
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014. Upon the publication
of this announcement via a Regulatory Information Service, this
inside information will be considered to be in the public
domain.
The person responsible for arranging for the release of this
announcement on behalf of GMS is Tony Hunter, Company
Secretary.
ABOUT GMS
GMS, 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 and Saudi Arabia. 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.
The Company's Legal Entity Identifier is
213800IGS2QE89SAJF77.
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END
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