TIDMGMS
RNS Number : 8633Q
Gulf Marine Services PLC
30 June 2022
FOR IMMEDIATE RELEASE 30 June 2022
Gulf Marine Services PLC
('Gulf Marine Services', 'GMS', the 'Company' or the
'Group')
Results of Annual General Meeting ("AGM")
Results of the AGM
The AGM of Gulf Marine Services PLC was held on Thursday, 30
June 2022. In the context of the continued COVID-19 pandemic,
shareholders were strongly encouraged to submit a form of proxy in
advance of this meeting rather than seeking to vote in person.
Accordingly, all the resolutions were put to shareholders on a
poll. 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 % Votes % Total Votes
Favour (including Against Votes Withheld(2)
discretionary)(1) (excluding
votes withheld)
1. To receive the Annual
Report and Accounts for
the financial year ended
31 December 2021. 647,782,875 99.44% 3,616,235 0.56% 651,399,110 0
------------------- ------- ------------ ------- ----------------- -------------
2. To receive and approve
the Directors' Remuneration
Report included in the
Annual Report and Accounts
for the financial year
ended 31 December 2021. 646,490,272 99.28% 4,689,278 0.72% 651,179,550 219,560
------------------- ------- ------------ ------- ----------------- -------------
3. To re-appoint Mansour
Al Alami as a Director. 644,142,659 99.29% 4,623,416 0.71% 648,766,075 2,633,035
------------------- ------- ------------ ------- ----------------- -------------
4. To re-appoint Hassan
Heikal as a Director. 646,701,286 99.29% 4,635,789 0.71% 651,337,075 62,035
------------------- ------- ------------ ------- ----------------- -------------
5. To re-appoint Rashed
Al Jarwan as a Director. 646,713,659 99.29% 4,623,416 0.71% 651,337,075 62,035
------------------- ------- ------------ ------- ----------------- -------------
6. To re-appoint Charbel
El Khoury as a Director 646,710,240 99.29% 4,622,585 0.71% 651,332,825 66,285
------------------- ------- ------------ ------- ----------------- -------------
7. To re-appoint Jyrki
Koskelo as a Director. 646,709,409 99.29% 4,623,416 0.71% 651,332,825 66,285
------------------- ------- ------------ ------- ----------------- -------------
8. To re-appoint Lord
Anthony St John of Bletso
as a Director. 646,713,765 99.29% 4,623,310 0.71% 651,337,075 62,035
------------------- ------- ------------ ------- ----------------- -------------
9. To appoint KPMG as
Auditor. 645,780,459 99.15% 5,516,235 0.85% 651,296,694 102,416
------------------- ------- ------------ ------- ----------------- -------------
10. To authorise the
Audit and Risk Committee,
for and on behalf of
the Directors, to agree
the Auditor's remuneration. 645,814,675 99.15% 5,521,135 0.85% 651,335,810 63,300
------------------- ------- ------------ ------- ----------------- -------------
11. To authorise the
Directors to allot
shares
(s551 of the Companies
Act 2006). 321,560,671 49.37% 329,768,854 50.63% 651,329,525 69,585
------------------- ------- ------------ ------- ----------------- -------------
12. To authorise the
Company to enter into
a buy-back agreement
for the
purchase by the Company
of all of the Deferred
Shares in issue. 3 341,894,306 52.49% 309,440,554 47.51% 651,334,860 64,250
------------------- ------- ------------ ------- ----------------- -------------
13. To disapply
pre-emption
rights (s.570 and s.573
of the Companies
Act 2006). (4) 320,639,380 50.74% 311,245,151 49.26% 631,884,531 19,514,579
------------------- ------- ------------ ------- ----------------- -------------
14. To disapply
pre-emption
rights (s.570 and s.573
of the Companies
Act 2006) up to a
further
5% for acquisitions or
specified
capital investments.
(4) 320,589,380 50.74% 311,295,151 49.26% 631,884,531 19,514,579
------------------- ------- ------------ ------- ----------------- -------------
15. To authorise the
Company to make market
purchases of its own
shares (s.701 of the
Companies Act 2006).
(4) 341,895,893 52.49% 309,438,967 47.51% 651,334,860 64,250
------------------- ------- ------------ ------- ----------------- -------------
16. To authorise the
Directors to call
general
meetings of the Company
(other than an annual
general meeting) on not
less than 14 clear
days' notice. (4) 646,717,975 99.29% 4,621,135 0.71% 651,339,110 60,000
------------------- ------- ------------ ------- ----------------- -------------
Notes:
1) Any proxy appointments giving discretion to the Chairman of
the Meeting have been included in the "For" 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 resolution to approve the buy-back of the Company's
deferred shares was duly passed, and accordingly, the Deferred
Shares will now be transferred to the Company and cancelled as set
out in the Notice of AGM.
4) Indicates special resolutions requiring a 75% majority of
votes cast in favour to be passed.
The Company's total ordinary shares in issue (total voting
rights) as at 30 June 2021 was 1,016,414,582 ordinary shares of 2
pence each. Ordinary shareholders are entitled to one vote per
ordinary share held. No shares were held in treasury.
The Company announces that resolutions 1 to 10 (inclusive),
resolution 12 and resolution 16 were passed by the requisite
majorities of the Company's shareholders. Resolution 11, which was
an ordinary resolution requiring the approval of shareholders
representing at least 50% of the shares voted at the meeting and
resolutions 13 to 15 (inclusive), which were special resolutions
requiring the approval of shareholders representing at least 75% of
the shares voted at the meeting, were not passed by such majority.
The Board continues to consult with substantial shareholders on
their views and, in accordance with paragraph 4 of the UK Corporate
Governance Code, will publish an update on views received from
shareholders, and actions taken, within six months of the AGM, and
a final summary together with any further steps in the next annual
report.
The full text of the resolutions may be found in the notice of
the AGM, copies of which are available on both the Company's
website at www.gmsplc.com and on the National Storage Mechanism at
https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism
.
In accordance with LR 9.6.2R, copies of all resolutions passed
at the AGM 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
Mansour Al Alami, Executive
Chairman +44 (0) 207 603 1515
Celicourt Communications
Mark Antelme
Philip Dennis +44 (0)20 8434 2643
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
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be considered to form a part of or be incorporated into this
announcement
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