26 May 2021
Gulf Marine Services PLC
('Gulf Marine Services', 'GMS', 'the Company' or 'the Group')
Appointment of Executive Chairman and a Non-Executive Director
GMS, a leading provider of advanced self-propelled, self-elevating support vessels serving the offshore oil, gas and renewables industries, is pleased to announce that Mansour Al Alami, Interim Executive Chairman, has been appointed Executive Chairman. In addition, GMS is pleased to announce the further strengthening of the Board, with the appointment of a Non-Executive Director, Lord St John of Bletso. This appointment takes place with immediate effect.
Anthony St John is a cross bench peer in the House of Lords. As a practising lawyer by training, with his LLM in Maritime Law, he worked for Shell (South Africa) and then as an oil analyst and in specialist sales for several institutions in the City of London. Through his subsequent career he has held a number of executive and advisory roles in high growth companies.
Anthony is currently Non-Executive Chairman of Integrated Diagnostics Holdings, and a Non-Executive Director of Yellow Cake PLC and Smithson Investment Trust PLC. He is also a Trustee of a number of charities, with a strong focus on education and wildlife conservation, and was formerly a director of Albion Enterprise VCT PLC.
The Board is in the process of recruiting an additional independent Non-Executive Director and a further announcement will be made once an appointment has been made.
There are no matters requiring disclosure under Rule 9.6.13R of the Listing Rules.
Commenting, Mansour Al Alami, Executive Chairman of GMS, said:
"GMS is very pleased that Anthony has agreed to join the Board as a Non-Executive Director. He brings a wealth of highly relevant experience, developed in energy, finance and other sectors. He is also an extremely well-respected Board member, which brings with it a high degree of oversight and integrity and will provide support to the executive team. This is another important step in the resetting of GMS, which is well placed to create value deploying its fleet in support of the international offshore industry."
Gulf Marine Services PLC
Mansour Al Alami
Tel: +44 (0)20 7603 1515
Mark Antelme / Philip Dennis
Tel: +44 (0) 20 8434 2754
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 the United Kingdom. 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
The content of the Gulf Marine Services PLC website should not be considered to form a part of or be incorporated into this announcement.