Grant of Director Share Awards
Gulf Marine Services PLC announced that Executive Chairman Mansour Al Alami was granted nil-cost options on 3,712,914 ordinary shares under the Long Term Incentive Plan, vesting in three years subject to total shareholder return performance against the FTSE SmallCap Index and a peer group, with a further two-year holding period. Additionally, 297,732 shares were granted under the Deferred Share Bonus Plan, equivalent to a proportion of his 2025 bonus, which will generally vest two years from January 1, 2026.
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Gulf Marine Services announces that Executive Chairman, Mansour Al Alami, was granted on 15 May 2026 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 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 | 3,712,914 |
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 2028 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 2028 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 | 297,732 |
The number of Shares granted is equivalent to the relevant proportion of the 2025 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 2026.
| Enquiries: Gulf Marine Services PLC Mansour Al Alami Executive Chairman | Tel: +44 (0)20 7603 1515 | |||||
| Celicourt Communications Mark Antelme Philip Dennis Kristine Qevani | 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 | 2026/05/15 | ||||
| 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 | 2026/05/15 | ||||
| f) | Place of the transaction | Outside a trading venue |
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