TIDMGMS
RNS Number : 9478O
Gulf Marine Services PLC
23 May 2018
Gulf Marine Services PLC ("the Company")
Results of Annual General Meeting
At the Annual General Meeting of Gulf Marine Services PLC held
on Tuesday 22 May 2018, all resolutions put to the meeting were
passed by the shareholders on a poll.
The results of the poll, incorporating the proxy votes lodged in
advance of the meeting, are set out below.
Resolutions For (1) % Against % Withheld Total lodged
(2)
1. To receive the
Company's annual
accounts for the
financial year ended
31 December 2017. 248,976,895 96.46 9,143,901 3.54 0 258,120,796
------------ ------- ----------- ------ --------- -------------
2. To approve the
Directors' Remuneration
Report for the year
ended 31 December
2017. 209,486,913 81.16 48,631,883 18.84 2,000 258,118,796
------------ ------- ----------- ------ --------- -------------
3. To approve the
Directors' Remuneration
Policy. 201,055,052 77.90 57,028,909 22.10 36,836 258,083,961
------------ ------- ----------- ------ --------- -------------
4. To re-elect Simon
Heale as a director
of the Company. 255,277,750 98.90 2,843,046 1.10 0 258,120,796
------------ ------- ----------- ------ --------- -------------
5. To re-elect Duncan
Anderson as a director
of the Company. 258,120,753 100.00 44 0.00 0 258,120,797
------------ ------- ----------- ------ --------- -------------
6. To re-elect Simon
Batey as a director
of the Company. 255,715,519 99.07 2,405,278 0.93 0 258,120,797
------------ ------- ----------- ------ --------- -------------
7. To re-elect Richard
Anderson as a director
of the Company. 238,518,773 92.41 19,602,023 7.59 0 258,120,796
------------ ------- ----------- ------ --------- -------------
8. To re-elect Dr
Karim El Solh as
a director of the
Company. 255,707,074 99.06 2,413,723 0.94 0 258,120,797
------------ ------- ----------- ------ --------- -------------
9. To re-appoint
Deloitte LLP as
auditor of the Company. 258,108,952 100.00 11,845 0.00 0 258,120,797
------------ ------- ----------- ------ --------- -------------
10. To authorise
the Audit and Risk
Committee of the
Company to determine
the auditor's
remuneration. 258,120,753 100.00 44 0.00 0 258,120,797
------------ ------- ----------- ------ --------- -------------
11. To authorise
the directors to
allot shares under
section 551 of the
Companies Act 2006. 236,958,780 91.80 21,159,517 8.20 2,500 258,118,297
------------ ------- ----------- ------ --------- -------------
12. To authorise
the directors to
allot shares on
a non-pre-emptive
basis. (3) 236,966,716 91.81 21,151,581 8.19 2,500 258,118,297
------------ ------- ----------- ------ --------- -------------
13. To authorise
the Company to make
market purchases
of its own shares.
(3) 258,049,565 99.97 71,231 0.03 0 258,120,796
------------ ------- ----------- ------ --------- -------------
14. To authorise
the Company to hold
general meetings
(other than an annual
general meeting)
on not less than
14 clear days' notice.
(3) 257,444,071 99.74 676,726 0.26 0 258,120,797
------------ ------- ----------- ------ --------- -------------
VOTES OF SHAREHOLDERS EXCLUDING CONTROLLING SHAREHOLDER
Resolutions For % Against % Withheld Total lodged
6. To re-elect
Simon Batey as
a director of
the Company.
(4) 196,045,917 98.79 2,405,278 1.21 0 198,451,195
------------ ------ ----------- ----- --------- -------------
7. To re-elect
Richard Anderson
as a director
of the Company.
(4) 178,849,171 90.12 19,602,023 9.88 0 198,451,194
------------ ------ ----------- ----- --------- -------------
The Board thanks all investors for their support through
participation in the AGM vote this year and is pleased that the
majority of resolutions received overwhelming support from
shareholders. The Board notes the vote of 22.10% against resolution
3, the Directors' Remuneration Policy. A vote of 18.84% against
resolution 2, the Directors' Remuneration Report, is also noted.
The Board remains committed to maintaining an open dialogue with
shareholders and advisory bodies on key remuneration decisions, and
will consider whether any future changes are required to be made to
the Directors' Remuneration Policy.
Notes:
1) Any proxy appointments giving discretion to the Chairman of
the Meeting have been included in the "For" totals above.
2) A vote "Withheld" is not a vote in law and is not counted in
the calculation of the votes "For" or "Against" a resolution.
3) Indicates special resolutions requiring a 75% majority of votes cast in favour to be passed.
4) As the Company has a controlling shareholder, Green
Investment Capital Investments LLC, as defined in the Financial
Conduct Authority's Listing Rules, each resolution to re-elect an
independent director (resolutions 6, and 7) have, under Listing
Rule 9.2.2E, been approved by a majority of the votes cast by:
-- the shareholders of the Company as a whole; and
-- the independent shareholders of the Company; that is, all the
shareholders entitled to vote on each resolution excluding the
controlling shareholder.
5) The Company's total ordinary shares in issue (total voting
rights) as at 18 May 2018 was 349,967,878 ordinary shares of 10
pence each. Ordinary shareholders are entitled to one vote per
ordinary share held. No shares were held in treasury. The proxy
votes received, including votes withheld, amount to 73.76% of the
total issued share capital.
The full text of the resolutions may be found in the Notice of
the Annual General Meeting, copies of which are available on both
the Company's website www.gmsuae.com and on the National Storage
Mechanism at http://www.morningstar.co.uk/uk/NSM.
A copy of the special resolutions passed at the Annual General
Meeting has been submitted to the National Storage Mechanism and
will shortly be available for inspection at
http://www.morningstar.co.uk/uk/NSM.
-ends-
For further information please contact:
Gulf Marine Services
PLC Brunswick
Patrick Handley - UK
John Brown Tel: +44 (0) 20 7404 5959
Tel: +971 (2) 5028888
Disclaimer
The content of the Gulf Marine Services PLC website should not
be considered to form a part of or be incorporated within this
announcement.
Gulf Marine Services PLC's Legal Entity Identifier is
213800IGS2QE89SAJF77
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END
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