Grant of Director Share Awards
Summary by AI BETAClose X
18 May 2026
Gulf Marine Services PLC
('Gulf Marine Services' or 'the Company')
Grant of Director Share Awards
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:
1. 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.
2. 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: 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 |
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
offshore 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 15 SESVs is amongst the youngest in the industry. The vessels support GMS's clients in a broad range of offshore platform refurbishment and maintenance activities, well intervention work, and offshore wind turbine
maintenance work (which are opex‐led activities), as well as offshore 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.
|
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 |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
GULF MARINE SERVICES PLC
|
||||
|
b)
|
LEI |
213800IGS2QE89SAJF77 |
||||
|
4
|
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
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 |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
GULF MARINE SERVICES PLC
|
||||
|
b)
|
LEI |
213800IGS2QE89SAJF77 |
||||
|
4
|
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
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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