OTAQ Plc (OTAQ) Directorate Change 21-Nov-2022 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS
Group. The issuer is solely responsible for the content of this
announcement.
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OTAQ plc
("OTAQ", the "Company" or the "Group")
Directorate Change
OTAQ, the innovative technology company targeting the
aquaculture, geotracking and offshore markets, announces the
appointment of Adam Reynolds as Non-Executive Chairman with
immediate effect. The Company also announces that Alex Hambro will
retire as Non-Executive Chairman of the Company at the same
time.
Alex has made a significant contribution to the Company since
joining the Board in November 2018 and becoming Non-Executive
Chairman on admission to the London Stock Exchange in March 2020.
The Board thanks Alex for his valuable contribution to the
Company's development.
Adam is a veteran of the small cap market and a champion of
growth companies. He brings with him a wealth of knowledge and
experience across various sectors and helps companies realise their
potential. He began his career in the City in 1980 with
stockbrokers Rowe Rudd, following which he joined public relations
business Basham & Coyle heading their Investor Relations
Division. Thereafter he established his own PR/IR and Corporate
Finance firm, which he subsequently floated on AIM in 2000 before
selling the company in 2004.
More recently, Adam has been a major investor in and
Non-Executive Chairman or Non-Executive Director of a number of
small cap growth companies including EKF Diagnostics plc, Sosander
plc, Yourgene Health plc and Belluscura plc where he works closely
with the executives to take advantage of the opportunities
available thereby maximising shareholder value.
Alex Hambro said: "I'm delighted to welcome Adam to the Chair at
OTAQ during a pivotal and exciting time in its development. Adam
has plenty of relevant experience in guiding young technology-based
companies through their international growth opportunities. OTAQ's
exciting current portfolio of new products has significant growth
potential internationally and Adam will add enormous value to these
programs."
Adam Reynolds, Non-Executive Chairman, added: "I am very pleased
to be joining the Board of OTAQ at this pivotal point of its
development and the growth opportunities it has before it. I would
like to thank Alex for his contribution over the past four years
and I wish him well."
The following information relating to Adam Reynolds is disclosed
pursuant to Rule 4.9 of the AQSE Growth Market - Access
Rulebook.
Current directorships and/or partnerships
Autoclenz Group Limited
Autoclenz Holdings Limited
Belluscura plc
MyHealthChecked plc
New Image Car Care Limited
New Image Holdings Limited
New Image Smart Repair Limited
New Image Valeting Limited
Probiotix Health plc
Probiotix Limited
Reyco Limited
Sosandar plc
The British Inspiration Trust
Yourgene Health plc
Former directorships and/or partnerships (within the last five
years)
Big Sofa Technologies Group Limited
Boldwood Limited
EKF Diagnostics Holdings plc
Emotion Fitness Limited
Medavinci Gold Limited
Optibiotix Health plc
Orogen Gold (Armenia) Limited
Orogen Gold (Serbia) Limited
RNR Holdings Limited
Adam holds 893,181 ordinary shares in the Company representing
0.7% of the Company's issued share capital.
Enquiries
OTAQ plc +44 (0)1524 748028
Phil Newby, Chief Executive Officer
Matt Enright, Chief Financial Officer
Dowgate Capital Limited - AQSE Corporate Adviser & Broker +44 (0)20 3903 7715
David Poutney / James Serjeant
Russell Cook / Nicholas Chambers
Walbrook PR Limited - PR +44 (0)20 7933 8780 or OTAQ@walbrookpr.com
Tom Cooper / Nick Rome 07971221972 or 07748325236
About OTAQ
OTAQ is a highly innovative technology company targeting the
aquaculture, geotracking and offshore markets. It already has a
number of established products in its portfolio and is focused on
further developing its presence, customer base and cross selling
opportunities within core markets both organically and via
acquisition.
OTAQ's aquaculture products, which include a sonar device
(developed for Minnowtech LLC) to scan shrimp in ponds and water
quality monitoring, are focused on maximising welfare and
production yields. Additionally, the Company is developing a
potentially game changing live plankton analysis product for
finfish and shellfish farmers. It also continues to target
opportunities in the acoustic deterrent devices market via its
Sealfence product, which is used by salmon farmers, with global
opportunities in Chile, Australia, Canada and Norway.
The Company is also developing high accuracy location trackers
for specialist applications. Having already added clients within
safety and multiple participant sport/racing applications, the
Company is investigating wider market potential - including
opportunities in the seafood industry.
OTAQ's offshore product range includes OceanSense subsea leak
detection, Eagle IP camera systems, Lander seabed survey devices
and Subsea electrical connectors and penetrators. It is targeting a
number of growth opportunities in new territories and has a strong
client base including Expro, Amphenol and National Oilwell Varco.
The Company is also focused on the development of new products
through this division, with the aim of increased cross-deployment
of skills and technologies into the aquaculture arena.
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ISIN: GB00BK6JQ137
Category Code: MSCU
TIDM: OTAQ
LEI Code: 213800CZGMYB5XTUXJ52
Sequence No.: 201992
EQS News ID: 1491877
End of Announcement EQS News Service
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(END) Dow Jones Newswires
November 21, 2022 02:00 ET (07:00 GMT)
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