REG - Gulf Marine Services - Block Listing Application

Gulf Marine ServicesAnnouncement

02/05/2024 16:45

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RNS Number : 0699N  Gulf Marine Services PLC  02 May 2024

 FOR IMMEDIATE RELEASE   2 May 2024

 

 

Gulf Marine Services PLC

(the "Company")

 

Block Listing Application

 

 

Application has been made to the Financial Conduct Authority and to the London
Stock Exchange to admit 137,075,773 ordinary shares of £0.02 each in the
Company to the premium listing segment of the Official List and to trading on
the main market for listed securities of the London Stock Exchange under a
block listing. On issue, such shares will rank pari passu in all respects with
the existing issued ordinary shares of the Company.

 

The relevant shares may be issued from time to time in connection with the
warrants issued by the Company on 2 January 2023 to the Company's consortium
of lending banks pursuant to the terms of the 2021 Common Terms Agreement.

 

It is expected that admission will take place on 9 May 2024.

 

 

- Ends -

 

 Enquiries: GMS                               +44 (0) 207 603 1515

 Mansour Al Alami, Executive Chairman

 Celicourt Communications                     +44 (0)20 7770 6424

 Mark Antelme

 Philip Dennis

 Ali AlQahtani

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 (http://www.gmsplc.com)

 

Disclaimer

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

 

 

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