DJ SIP Purchase, PDMR Shareholding & TVR
OTAQ Plc (OTAQ) SIP Purchase, PDMR Shareholding & TVR 17-Feb-2022 / 15:45 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", or the "Company")
Share Incentive Plan Purchase
Director/PDMR Shareholding
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 February 2022 from Cytec Solutions Corporate Trustees Limited (the "SIP Trustee") in relation to the issue and allotment of 7,871 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 PDMR at a price of 27 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.
Name Title Number of Partnership Shares Number of Matching Shares Phil Newby Chief Executive Officer 555 555
The SIP Award has been satisfied by the issue of 7,871 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. Applications have been made to the FCA and to the London Stock Exchange for the SIP 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 on or around 8.00 am on 23 February 2022.
Total Voting Rights
Following Admission, the enlarged issued share capital of the Company will comprise 37,706,373 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 37,706,373.
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 / Russell Cook Walbrook PR Ltd Tel: 020 7933 8780 or Otaq@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
Name Phil Newby
a)
2 Reason for the notification
Position/status Chief Executive Officer and PDMR
a)
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 15 pence 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)
Price(s) and volume(s) Volume(s)
c)
27p+Nil 555 + 555
Price(s)
Aggregated information Aggregated volume (s)
d)
1,110
27p
e) Date of the transaction
17 February 2022
f) Place of the transaction
London Stock Exchange (XLON)
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ISIN: GB00BK6JQ137
Category Code: MSCH
TIDM: OTAQ
LEI Code: 213800CZGMYB5XTUXJ52
OAM Categories: 2.5. Total number of voting rights and capital
3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 143809
EQS News ID: 1282641
End of Announcement EQS News Service
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(END) Dow Jones Newswires
February 17, 2022 10:45 ET (15:45 GMT)
