Grant of Director Share Awards
Executive Chairman granted 3.3m LTIP options and 271k deferred bonus shares under shareholder-approved plan.
- LTIP Awards granted to Mansour Al Alami 3,289,770 nil-cost options
- DSBP Awards granted to Mansour Al Alami 271,403 shares
- LTIP vesting period 3 years from grant date
- DSBP vesting period 2 years from 1 January 2025
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Gulf Marine Services announces that Executive Chairman, Mansour Al Alami, was today granted share awards in the form of nil-cost options over ordinary shares of £0.02 each in the Company ("Shares") under the Company's Long Term Incentive Plan (the "Plan").
These awards are as summarised in the Company's Director's Remuneration Report (the "DRR") contained in its annual report for the year ended 31 December 2024. The DRR and Plan were approved by shareholders at the Company's Annual General Meeting held on 29 May 2025.
The share awards are as follows:
- Long-term incentive Awards ("LTIP Awards") as set out below:
| Name | Position | No of LTIP Awards granted |
|---|---|---|
| Mansour Al Alami | Executive Chairman | 3,289,770 |
These LTIP Awards will generally vest three years from the grant date, subject to the achievement of performance conditions aligned with shareholder interests as follows:-
- vesting of 50% of each LTIP Award is based on the total shareholder return ("TSR")* for a Share of the Company measured over the three calendar years ending 31 December 2027 relative to the TSR of the constituent companies of the FTSE SmallCap Index of which the Company is a member; and
- vesting of 50% of each LTIP Award is based on the TSR for a Share of the Company measured over the three calendar years ending 31 December 2027 relative to the TSR of a group of comparative companies selected with the input of the Company's brokers.
*As a measure of overall return, TSR takes into account both movements in share price and any dividends paid.
The LTIP Awards are also subject to a subsequent two-year post-vesting holding period.
- Deferred Share Bonus Plan Awards ("DSBP Awards") under Schedule 2 of the Plan as set out below:-
| Name | Position | No of DSBP Awards granted |
|---|---|---|
| Mansour Al Alami | Executive Chairman | 271,403 |
The number of Shares granted is equivalent to the relevant proportion of the 2024 annual bonus deferred under the terms of the shareholder-approved Directors' Remuneration Policy.
Subject to and in terms of the Plan, these Shares will generally vest after two years from 1 January 2025.
| Enquiries: Gulf Marine Services PLC Tony Hunter Company Secretary | Tel: +44 (0)20 7603 1515 | |||||
| Celicourt Communications Mark Antelme Philip Dennis Ali AlQahtani | Tel: +44 (0) 20 7770 6424 | |||||
| 1 | Details of the person discharging managerial responsibilities | |||||
| a) | Name | Mansour Al Alami | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Executive Chairman | ||||
| b) | Initial notification /Amendment | Initial notification | ||||
| a) | Name | GULF MARINE SERVICES PLC | ||||
| b) | LEI | 213800IGS2QE89SAJF77 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | ORDINARY SHARES OF £0.02 EACH GB00BJVWTM27 | ||||
| b) | Nature of the transaction | Grant of LTIP Awards in the form of nil-cost options under the Company's Long-Term Incentive Plan | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information | N/A single transaction | ||||
| e) | Date of the transaction | 2025/06/11 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities | |||||
| a) | Name | Mansour Al Alami | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Executive Chairman | ||||
| b) | Initial notification /Amendment | Initial notification | ||||
| a) | Name | GULF MARINE SERVICES PLC | ||||
| b) | LEI | 213800IGS2QE89SAJF77 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | ORDINARY SHARES OF £0.02 EACH GB00BJVWTM27 | ||||
| b) | Nature of the transaction | Grant of DSBP Awards in the form of nil cost options under Schedule 2 of the Company's Long Term Incentive Plan | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information | N/A single transaction | ||||
| e) | Date of the transaction | 2025/06/11 | ||||
| f) | Place of the transaction | Outside a trading venue |
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