SIP Purchase, PDMR and Total Voting Rights

17 September 2024

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 and offshore markets, received notification on 16 September 2024 from Cytec Solutions Corporate Trustees Limited (the "SIP Trustee") in relation to the issue and allotment of 43,999 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 3.75 pence per Ordinary Share, and the number of Matching Shares allocated by the SIP Trustee to the PDMRs 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	4,000	4,000	1,514,712	1.18%
Justine Dowds	Chief Financial Officer	4,000	4,000	23,286	0.02%

 

*Philip Newby’s beneficial holding includes 349,606 Ordinary Shares held by his wife, Diane Newby

 

The SIP Award has in part been satisfied by the issue of 43,999 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 a.m. on 23 September 2024.

 

Total Voting Rights

 

Following Admission, the Company will have 128,525,039 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 128,525,039.

 

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, Chief Financial Officer
Dowgate Capital Limited - AQSE Corporate Advisor & Broker			+44 (0)20 3903 7715
David Poutney / James Serjeant Nicholas Chambers / Russell Cook
Walbrook PR Limited – PR	+44 (0)20 7933 8780 07971221972 or 07748325236
Tom Cooper / Nick Rome	[email protected]

 

About OTAQ

 

OTAQ is a highly innovative technology company targeting the aquaculture 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.

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 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.

 

 

 

 

 

 

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) 3.75p Nil 4,000 4,000
d)	Aggregated information	Price(s)   Aggregated volume (s) 1.875p 8,000
e)	Date of the transaction	16 September 2024
f)	Place of the transaction	Aquis Stock Exchange (AQSE)

 

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Justine Dowds
2	Reason for the notification
a)	Position/status	Chief Financial 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) 3.75p Nil 4,000 4,000
d)	Aggregated information	Price(s)   Aggregated volume (s) 1.875p 8,000
e)	Date of the transaction	16 September 2024
f)	Place of the transaction	Aquis Stock Exchange (AQSE)