skip to content

Market News

Gulf Capital to reduce stake in GMS

11 January 2017 09:08

Green Investment Commercial Investments LLC, a wholly owned entity of Gulf Capital Pvt. JSC, has agreed the sale by way of private placement of 12.1 million shares in Gulf Marine Services. The shares represent approximately 3.5% of the company's issued share capital.

The sale was made to a small group of institutional investors looking to increase their positions in the company. On settlement, Gulf Capital will hold, in aggregate, 157.0 million shares in GMS, representing approximately 44.9% of the issued share capital of the company. The remaining shares in GMS held by Gulf Capital will be subject to a lock-up until the release of the company's 2016 full year results (subject to certain customary exceptions), which can be waived with the consent of BofA Merrill Lynch and Barclays Bank PLC.

At 9:08am: (LON:GMS) Gulf Marine Services PLC share price was -0.75p at 67.25p

Story provided by StockMarketWire.com

Related Company: GMS

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

-

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.