Business
Letters of intent - more than 50% of GMS shares
Letters of intent - more than 50% of GMS shares.
About this update from Gulf Marine Services Plc
[{"type":"text","content":"\n \n \n RNS Number : 5048N\n Gulf Marine Services PLC\n 20 May 2020\n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \n \n \n \n \n \n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n \n \n \n \n 20 May 2020\n \n \n \n \n \n \n \n Gulf Marine Services PLC\n Letters of intent in respect of more than 50% of GMS shares\n \n \n The Board of Gulf Marine Services PLC (\"GMS\" or the \"Company\") confirms it has received, on 20 May 2020, a letter of intent from Mazrui Investments LLC (\"Mazrui\"), covering 44,327,944 GMS shares (12.65 per cent. of GMS issued share capital) indicating that Mazrui have no current intention to accept any offer of 10 pence per share \n (or $0.09 per share if higher)\n . \n \n \n As a result, GMS has now received letters from 14 GMS shareholders who collectively hold 52.08 per cent. of the Company's issued share capital, indicating that they \n have no current intention to accept any offer on the terms of the Seafox proposal. \n \n \n \n \n \n A summary of the letters of intent and details of the relevant shareholders together with their shareholdings in GMS are set out in the Appendix of this announcement.\n \n \n \n \n \n Enquiries:\n \n \n \n \n \n \n \n \n GMS\n \n Tim Summers, Executive Chairman\n Stephen Kersley, Chief Financial Officer\n Tony Hunter, Company Secretary\n \n \n \n \n \n \n \n \n \n \n \n \n \n +44 (0) 207 603 1515\n \n \n \n \n \n \n \n \n \n \n \n Evercore (Sole Financial Adviser to GMS)\n \n David Waring\n \n \n Edward Banks\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n +44 (0) 20 7653 6000\n \n \n \n \n \n \n \n \n BofA Securities (Joint Corporate Broker to GMS)\n \n Thomas Milner\n \n \n Ben Winstanley\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n +44 (0) 20 7628 1000\n \n \n \n \n \n \n Investec (Joint Corporate Broker to GMS)\n \n \n Chris Sim\n \n \n Henry Reast\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n +44 (0) 20 7597 5970\n \n \n \n \n \n \n \n Brunswick\n \n \n (PR Adviser to \n \n GMS)\n \n Patrick Handley - UK\n Will Medvei - UK\n Jade Mama...