23 August 2021

Gulf Marine Services PLC

('Gulf Marine Services', 'GMS', 'the Company' or 'the Group')

Appointment of Non-Executive Director

GMS, a leading provider of advanced self-propelled, self-elevating support vessels serving the offshore oil, gas and renewables industries, announces that Charbel El Khoury has been appointed as a Non-Independent Non-Executive Director of the Board with immediate effect.  Mr El Khoury was nominated to be considered for appointment by the Board by Mazrui Investments LLC, a major shareholder in the Company.  

Charbel El Khoury is Group CEO of Mazrui International LLC ('Mazrui International'), a UAE based diversified investment company, with significant reach in the energy, industrial, real estate and trading sectors.  Charbel guides Mazrui International's growth strategy, taking the lead role in its investments, operations, mergers and acquisitions, project finance and joint ventures.  Mazrui International is affiliated with Mazrui Investments LLC.

Charbel started his career in prominent legal practices in Lebanon and the UAE before assuming the role of Chief Legal Officer at Mazrui International, where he was responsible for multiple jurisdictions and industry sectors.   He holds a number of board positions across international organisations in which Mazrui International has invested including, Hilti Emirates, Air Liquide, Carbon Holdings and Gulf Refining Company NV.

Charbel has a Bachelor's degree in International Law and Legal Studies, and a Master's degree in Private Law, both from Sagesse University.  In 2021, he also successfully completed the Harvard Business School executive education program. 

The Board remains 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:

"We are delighted to be further strengthening the Board with the appointment of Charbel, to whom we extend a warm welcome.  As Group CEO of Mazrui International, he brings a depth of industry knowledge and a track record of creating value for shareholders. We look forward to his contribution as we continue to solidify our position as the world's leading provider of advanced self-propelled self-elevating support vessels supporting the oil, gas and renewable energy industries."

Enquiries:

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.