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par OTAQ Plc (isin : GB00BK6JQ137)

SIP Purchase, PDMR and Total Voting Rights

OTAQ Plc (OTAQ)
SIP Purchase, PDMR and Total Voting Rights

19-Jan-2024 / 16:31 GMT/BST


OTAQ plc

("OTAQ", or the "Company")

 

Share Incentive Plan Purchase

 

Director/PDMR Shareholding

 

Total Voting Rights

 

OTAQ plc (OTAQ.AQ), the innovative technology company targeting the aquaculture, geotracking and offshore markets, received notification on 18 January 2024 from Cytec Solutions Corporate Trustees Limited (the "SIP Trustee") in relation to the issue and allotment of 36,665 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 Persons 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 each of the PDMRs at a price of 4.50 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 names in the table below.

Name

Title

Number of Partnership Shares

Number of Matching Shares

Total beneficial holding following Admission

Percentage beneficial holding following Admission

Philip Newby*

Chief Executive Officer

3,334

3,334

1,455,428

1.14%

Harald Rotsch

Chief Technology Officer

3,333

3,333

2,458,252

1.92%

 

*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 36,665 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 22 January 2024.

 

Total Voting Rights

 

Following Admission, the Company will have 128,181,025 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 128,181,025.

 

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

Justine Dowds, Interim Chief Financial Officer

 

 

 

Dowgate Capital Limited - AQSE Corporate Advisor & Broker

+44 (0)20 3903 7715

David Poutney / James Serjeant

Nicholas Chambers / Russell Cook

 

 

+44 (0)20 7933 8780

Walbrook PR Limited – PR

07971221972 or 07748325236

Tom Cooper / Nick Rome

OTAQ@walbrookpr.com

    

 

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

 

a) 

Name 

 

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

 

a)

 

Description of the financial instrument, type of instrument

 

Identification code

 

Ordinary shares of 1 penny each

 

 

ISIN: GB00BK6JQ137

 

b)

 

Nature of the transaction

 

 

Purchase and allocation of Partnership and Matching Shares (no consideration), respectively, under the OTAQ SIP.

c)

 

Price(s) and volume(s)

 

 

Price(s)

 

Volume(s)

4.50p

Nil

3,334

3,334

 

 

 

d)

 

Aggregated information

 

 

 

Price(s)

 

Aggregated volume (s)

2.25p

6,668

 

 

e)

 

Date of the transaction

 

18 January 2024

f)

 

Place of the transaction

 

Aquis Stock Exchange (AQSE)

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a) 

Name 

 

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

 

a)

 

Description of the financial instrument, type of instrument

 

Identification code

 

Ordinary shares of 1 penny each

 

 

ISIN: GB00BK6JQ137

 

b)

 

Nature of the transaction

 

 

Purchase and allocation of Partnership and Matching Shares (no consideration), respectively, under the OTAQ SIP.

c)

 

Price(s) and volume(s)

 

 

Price(s)

 

Volume(s)

4.50p

Nil

3,333

3,333

 

 

 

d)

 

Aggregated information

 

 

 

Price(s)

 

Aggregated volume (s)

2.25p

6,666

 

 

e)

 

Date of the transaction

 

18 January 2024

f)

 

Place of the transaction

 

Aquis Stock Exchange (AQSE)

 



Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


ISIN:GB00BK6JQ137
Category Code:MSCH
TIDM:OTAQ
LEI Code:213800CZGMYB5XTUXJ52
Sequence No.:298660
EQS News ID:1819277

 
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