GULF MARINE SERVICES PLC

Board/Management Information • Feb 7, 2022

National Storage Mechanism | Additional information

RNS Number : 8612A

Gulf Marine Services PLC

07 February 2022

7 February 2022

Gulf Marine Services PLC

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

APPOINTMENT OF CHIEF FINANCIAL OFFICER

GMS is pleased to announce the appointment of Alex Aclimandos as the Company's new Chief Financial Officer with immediate effect. Alex brings with him a wealth of progressive international financial management experience gained in over 27 years with first-tier companies viz. Proctor & Gamble, ABB and Alvarez and Marsal.  In his recent role, Alex was the Chief Financial Officer at Qatari Investors Group, a publicly listed company. He holds an MBA and is a US Certified Management Accountant.

Andy Robertson who has most recently served in that role will remain available to assist with an orderly handover of his duties and responsibilities after which he will be leaving GMS after almost 14 years of service with the Company.

Mansour Al Alami, GMS Executive Chairman, commented:

"I would like to welcome Alex to GMS. He brings with him a wealth of relevant experience and joins us at an exciting time as we continue with the Company's development.

"I also wish to thank Andy for his extensive contribution to GMS over the years, having served as CFO through the update to the Company's banking arrangements and its equity raise last year. We wish him well for the future."

Enquiries:

Gulf Marine Services PLC Mansour Al Alami Executive Chairman	Tel: +44 (0)20 7603 1515
Celicourt Communications 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 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.

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