TIDMOTAQ
RNS Number : 6307S
OTAQ PLC
18 March 2021
OTAQ plc
(" OTAQ ", or the "Company")
Share Incentive Plan Purchase
Director/PDMR Shareholding
Exercise of Share Options
Total Voting Rights
OTAQ, the marine technology products and solutions group for the
global aquaculture and offshore oil and gas industries, received
notification on 17 March 2021 from Cytec Solutions Corporate
Trustees Limited (the "SIP Trustee") in relation to the issue and
allotment of 8,060 ordinary shares of 15 pence each in the Company
("Ordinary Shares") for the benefit of participants of the OTAQ
Share Incentive Plan (the "SIP"), including those Persons
Discharging Managerial Responsibilities of the Company (each, a
"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
PDMRs at a price of 28.3 pence per Ordinary Share, and the number
of Matching Shares allocated by the SIP Trustee to the PDMRs for no
consideration, are set out against their names in the table
below.
Name Title Number of Partnership Number of Matching
Shares Shares
Chief Executive
Phil Newby Officer 530 530
------------------ ---------------------- -------------------
Chief Financial
Matt Enright Officer 354 354
------------------ ---------------------- -------------------
Chief Technology
Chris Hyde Officer 353 353
------------------ ---------------------- -------------------
Chief Operations
Steve Burns Officer 530 530
------------------ ---------------------- -------------------
The SIP Award has been satisfied by the issue of 1,767 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.
Exercise of Share Options
On 10 March 2021 the Company received notification of an
exercise of options to subscribe for 177,412 new Ordinary Shares
from a former consultant to the business (the "Options").
Issue of Equity
Applications have been made to the FCA and to the London Stock
Exchange for the SIP shares and the Options shares to be admitted
to the Standard segment of the Official List of the FCA and to
trading on the London Stock Exchange's Main Market for listed
securities respectively ("Admission"). It is expected that
Admission will become effective at 08:00 on 23 March 2021.
Total Voting Rights
Following Admission of the SIP and Option Exercise shares, the
enlarged issued share capital of the Company will comprise
30,763,251 Ordinary Shares, 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
30,763,251.
The aforementioned 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 FCA's Disclosure Guidance and Transparency Rules.
Contacts :
OTAQ PLC Via Walbrook
Alex Hambro, Non-Executive Chairman
Phil Newby, Chief Executive Officer
Matt Enright, Chief Financial Officer
Dowgate Capital Ltd (Broker & Adviser) 020 3903 7715
David Poutney / James Serjeant
Nicholas Chambers
Walbrook PR Ltd Tel: 020 7933 8780 or O taq@walbrookpr.com
Tom Cooper/Nick Rome/Nicholas Johnson 0797 122 1972 or 07748 325 236 or 07884 664 686
About OTAQ
OTAQ is a highly innovative marine technology company focused on
the marine aquaculture, offshore energy, renewables and
oceanographic research sectors. It operates in four worldwide
locations: Lancaster, Aberdeen and Ulverston in the UK and Puerto
Montt in Chile.
OTAQ's marine technology portfolio includes a market-leading
intelligent acoustic deterrent system, Sealfence, designed to
protect marine-based aquaculture sites from predation, with
multiple systems deployed in Scotland, Chile, Finland and
Russia.
The Company's Oceansense leak detection systems have a global
reputation as the industry standard solution and have been deployed
successfully on hundreds of jobs. OTAQ's Dragonfish laser
measurement system is fast becoming recognised as one of the most
accurate underwater precision laser measurement systems available.
OTAQ also has significant experience in the design and manufacture
of underwater connectors, penetrators and communication
systems.
It seeks to develop and continuously improve its products using
its specialist mechanical, electronic and software engineers with
decades of experience in bringing underwater technology products to
market. Concurrently, OTAQ seeks to expand its technology portfolio
through acquisitive growth, with the aim of further expanding its
aquaculture and offshore product offering.
OTAQ is proud to be fully ISO 9001:2015 accredited through
DNV-GL. ISO 9001 is an internationally recognised quality
management system and demonstrates OTAQ's commitment to
consistency, continual improvement and customer satisfaction. The
certification also demonstrates its ability to consistently deliver
products and services to market whilst meeting statutory and
regulatory requirements by applying an effective quality management
system.
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 1. Phil Newby
2. Matt Enright
3. Chris Hyde
4. Steve Burns
--------------------- ---------------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status 1. Chief Executive Officer and PDMR
2. Chief Financial Officer and PDMR
3. Chief Technology Officer and PDMR
4. Chief Operations Officer and PDMR
--------------------- ---------------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------- ---------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name OTAQ plc
--------------------- ---------------------------------------------------
b) LEI 213800WJSSWFHAVCGF13
--------------------- ---------------------------------------------------
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 Ordinary shares of 15 pence each
of the financial ISIN: GB00BK6JQ137
instrument,
type of instrument
Identification
code
--------------------- ---------------------------------------------------
b) Nature of Purchase and allocation of Partnership and
the transaction Matching Shares (no consideration), respectively,
under the OTAQ SIP.
--------------------- ---------------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) 1. 28.3p+Nil 1. 530+530
2. 28.3p+Nil 2. 354+354
3. 28.3p+Nil 3. 353+353
4. 28.3p+nil 4. 530+530
--------------------- ---------------------------------------------------
d) Aggregated Price(s) Aggregated volume
information (s)
28.3p 3,534
------------------
--------------------- ---------------------------------------------------
e) Date of the 17 March 2021
transaction
--------------------- ---------------------------------------------------
f) Place of London Stock Exchange (XLON)
the transaction
--------------------- ---------------------------------------------------
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END
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