Business
Result of placing of GMS shares by a shareholder
Result of placing of GMS shares by a shareholder.
About this update from Gulf Marine Services Plc
[{"type":"text","content":"\n\n28 June 2024\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.\nTHIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION, INCLUDING THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA. PLEASE SEE THE IMPORTANT INFORMATION AT THE END OF THIS ANNOUNCEMENT.\nTHIS ANNOUNCEMENT (THE \"ANNOUNCEMENT\") CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \nZeus Capital Limited\n(\"Zeus\")\nResult of oversubscribed placing of ordinary shares in Gulf Marine Services plc (\"GMS\" or the \"Company\") by a selling shareholder\n\nOn 27 June 2024, Zeus announced that it had been given an order by Seafox International Limited (\"Seafox\" or \"Selling Shareholder\"), a 28.5 per cent. shareholder in GMS to sell approximately $10 million of ordinary shares of 2 pence each in GMS (\"Ordinary Shares\") (the \"Placing Shares\") at a minimum of 17 pence per Ordinary Share (the \"Placing\").\nZeus announces that the Selling Shareholder has sold in total 51,136,347 Ordinary Shares (the \"Placing Shares\"), representing 4.8 per cent. of the issued share capital of GMS, and equating to c.$11 million. The Placing Shares were placed at a price of 17 pence per Placing Share and were sold to investors in a Placing managed by Zeus Capital Limited (\"Zeus\") who acted as sole bookrunner (the \"Bookrunner\") in connection with the Placing.\nThe trade date of the Placing is 28 June 2024 (the \"Trade Date\") and settlement of the Placing is expected to take place on 2 July 2024.\nFollowing the Placing, Seafox will hold 253,686,385 Ordinary Shares equivalent to 23.7 per cent. of GMS's issued share capital. Seafox has undertaken to Zeus that it will not, for a period of 75 days from 30 June 2024, dispose of any further Ordinary Shares, save in the scenarios where (i) GMS undertakes a share buyback or ...