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FOR
IMMEDIATE RELEASE
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2 May 2024
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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
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Enquiries: GMS
Mansour Al Alami, Executive
Chairman
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+44 (0) 207 603 1515
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Celicourt
Communications
Mark
Antelme
Philip Dennis
Ali AlQahtani
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+44 (0)20 7770 6424
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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
The content
of the Gulf Marine Services PLC website should not be considered to
form a part of or be incorporated into this
announcement.