OTAQ Plc (OTAQ) SIP Purchase, PDMR Shareholding & TVR
20-Dec-2022 / 10:16 GMT/BST Dissemination of a Regulatory
Announcement that contains inside information in accordance with
the Market Abuse Regulation (MAR), transmitted by EQS Group. The
issuer is solely responsible for the content of this
announcement.
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OTAQ plc
("OTAQ", or the "Company")
Share Incentive Plan Purchase
Director/PDMR Shareholding
Total Voting Rights
OTAQ, the innovative technology company targeting the
aquaculture, geotracking and offshore markets, received
notification on 19 December 2022 from Cytec Solutions Corporate
Trustees Limited (the "SIP Trustee") in relation to the issue and
allotment of 33,640 ordinary shares of 1 penny each in the Company
("Ordinary Shares") for the benefit of participants of the OTAQ
Share Incentive Plan (the "SIP"), including a Person Discharging
Managerial Responsibilities in the Company ("PDMR") outlined below
in accordance with the rules of the SIP (the "SIP Award").
The SIP is an all-employee trust arrangement approved by HM
Revenue and Customs, under which each participating employee will
acquire Ordinary Shares at the prevailing market price per share
using contributions deducted from pre-tax salary in each calendar
month ("Partnership Shares"), with each participating employee
being awarded one Ordinary Share for each Partnership Share
("Matching Shares"), using newly issued shares.
Details of the number of Partnership Shares purchased by the
PDMR at a price of 5.50 pence per Ordinary Share, and the number of
Matching Shares allocated by the SIP Trustee to the PDMR for no
consideration, is set out against their name in the table
below.
Number of Number of Total beneficial holding Percentage beneficial holding
Name Title Partnership Matching Shares following Admission following Admission
Shares
Chief
Philip Newby* Executive 2,727 2,727 1,387,898 1.09%
Officer
Chief
Harald Rotsch Technology 2,727 2,727 2,390,994 1.87%
Officer
*Philip Newby's beneficial holding includes 349,606 Ordinary
Shares held by his wife, Diane Newby
The SIP Award has been satisfied by the issue of 33,640 new
Ordinary Shares (the "SIP Shares") to the SIP Trustee. The SIP
Shares shall rank pari passu in all respects with the Company's
existing ordinary shares in issue. Application has been made to the
Aquis Stock Exchange for the SIP Shares to be admitted to trading
on the Access Segment of the AQSE Growth Market ("Admission"). It
is expected that Admission will become effective on or around 8.00
am on 23 December 2022.
Total Voting Rights
Following Admission, the Company will have 127,824,881 Ordinary
Shares in issue, with voting rights. The Company does not hold any
Ordinary Shares in treasury. Therefore, the total number of
Ordinary Shares in the Company with voting rights will be
127,824,881.
This figure may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change in their
interest in, the share capital of the Company under the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules.
Enquiries:
OTAQ PLC +44 (0) 1524 748028
Adam Reynolds, Non-Executive Chairman
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
Nicholas Chambers / Russell Cook
Walbrook PR Limited (PR) +44 (0)20 7933 8780 or OTAQ@walbrookpr.com
Tom Cooper / Nick Rome 0797 122 1972 or 07748 325 236
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.
The Company makes this announcement, including the
notification(s) below, in accordance with the requirements of the
EU Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities / person closely associated
Name
a) Philip Newby
2 Reason for the notification
a) Position/status Chief Executive Officer and PDMR
b) Initial notification /Amendment
Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name
OTAQ plc
b) LEI
213800CZGMYB5XTUXJ52
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial Ordinary shares of 1 penny each
instrument, type of instrument
a)
Identification code
ISIN: GB00BK6JQ137
Nature of the transaction
b) Purchase and allocation of Partnership and Matching Shares (no
consideration), respectively, under the OTAQ SIP.
Price(s)
Volume(s)
c) Price(s) and volume(s)
5.50p+Nil 2,727 + 2,727
Price(s)
Aggregated information Aggregated volume (s)
d)
5,454
2.75p
e) Date of the transaction
19 December 2022
f) Place of the transaction
Aquis Stock Exchange (AQSE)
1 Details of the person discharging managerial responsibilities / person closely associated
Name
a) Harald Rotsch
2 Reason for the notification
a) Position/status Chief Technology Officer and PDMR
b) Initial notification /Amendment
Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name
OTAQ plc
b) LEI
213800CZGMYB5XTUXJ52
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial Ordinary shares of 1 penny each
instrument, type of instrument
a)
Identification code
ISIN: GB00BK6JQ137
Nature of the transaction
b) Purchase and allocation of Partnership and Matching Shares (no
consideration), respectively, under the OTAQ SIP.
Price(s)
Volume(s)
c) Price(s) and volume(s)
5.50p+Nil 2,727 + 2,727
Price(s)
Aggregated information Aggregated volume (s)
d)
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