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|16 May, 2019

Kasamar Holdings approves of directorate changes at Gulf Marine Services

Appointment of Mr. Michael Turner and Mr. David Blewden to the Board and looks forward to working with them.

DUBAI, UAE /PRNewswire/ -- Kasamar Holdings ("Kasamar"), a 9.82% Shareholder of GMS through Castro Investments, one of its investment vehicles, welcomes the recent resignations of Mr. Simon Batey and Mr. Richard Anderson from the Board of Directors ("Board") of the Company.

Kasamar notes the Company's announcement today regarding the appointment of Mr. Michael Turner and Mr. David Blewden to the Board and looks forward to working with them.

Kasamar takes this opportunity to express its confidence in Tim Summers, who has recently joined the Company as Chairman.

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Kasamar will continue to assess the adequacy of the Company's Board and management and will use its influence to ensure that the Company has a Board and management that are able to take the Company forward.

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About Kasamar Holdings

Kasamar is a family office focused on investing in private equity in UAE, real estate in developed markets, and global public securities. It is represented on the Board of the Company by Mr. Mo Bississo.

SOURCE Kasamar Holdings

© Press Release 2019

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