Business
Banking Update
Banking Update.
About this update from Gulf Marine Services Plc
[{"type":"text","content":"\n \n \n RNS Number : 4174E\n Gulf Marine Services PLC\n 28 February 2020\n \n \n \n \n 28 February 2020\n \n \n \n \n \n Gulf Marine Services PLC\n \n \n ('Gulf Marine Services', 'GMS', 'the Company' or 'the Group')\n \n \n \n \n \n Banking Update\n \n \n \n \n \n GMS has today signed a further extension to the agreement relating to the covenants to be tested with reference to its 30th June 2019 half year financial results. The extension will sustain the Company's rollover of its existing US$ 25 million working capital facility, as well as access to bonding facilities to underpin liquidity and support commercial growth, in each case until the end of March 2020. \n \n \n \n \n \n The Group continues in constructive and active dialogue with its lenders on a long-term solution to its capital structure. \n \n \n \n This announcement contains inside information \n and is provided in accordance with the requirements of Article 17 of the EU Market Abuse Regulation. \n \n \n \n \n \n Steve Kersley\n \n \n Chief Financial Officer (responsible for arranging the release of this announcement)\n \n \n Gulf Marine Services PLC\n \n \n 29 February 2019\n \n \n \n \n Enquiries\n \n \n \n For further information please contact: \n \n \n \n \n \n Gulf Marine Services PLC \n \n \n Tim Summers \n \n \n Executive Chairman\n \n \n Tony Hunter \n \n \n Company Secretary\n \n \n Tel: +44 (0) 207 603 1515\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Brunswick \n \n \n Patrick Handley\n - UK\n \n \n Will Medvei - UK\n \n \n Tel: +44 (0) 20 7404 5959\n \n \n Jade Mamarbachi - UAE \n \n \n Tel: +971 (0) 50 600 3829\n \n \n \n \n \n \n \n \n \n \n \n Notes to Editors:\n \n \n 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.\n \n \n \n \n \n The GM...