DJ Share Incentive Plan Purchase - Director/PDMR Shareholding
OTAQ Plc (OTAQ) Share Incentive Plan Purchase - Director/PDMR Shareholding 17-Aug-2022 / 14:08 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
OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, received notification on 17 August 2022 from Cytec Solutions Corporate Trustees Limited (the "SIP Trustee") in relation to the purchase of 44,298 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 ("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").
Details of the number of Partnership Shares purchased by the PDMR at a price of 7 pence per Ordinary Share, and the number of Matching Shares purchased by the SIP Trustee for the PDMR, are set out in the table below.
Name Title Number of Partnership Shares Number of Matching Shares Phil Newby Chief Executive Officer 2,144 2,144
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 0797 122 1972 or 07748 325 236
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.
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 instrument, type Ordinary shares of 15 pence each
of instrument
a)
Identification code
ISIN: GB00BK6JQ137
Nature of the transaction
b) Purchase of Partnership and award of Matching Shares
under the OTAQ SIP.
Price(s)
Price(s) and volume(s) Volume(s)
c)
7p & nil 2,144 & 2,144
Price(s)
Aggregated information Aggregated volume (s)
d)
4,288
7p
e) Date of the transaction
17 August 2022
f) Place of the transaction
London Stock Exchange (XLON)
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ISIN: GB00BK6JQ137 Category Code: DSH TIDM: OTAQ LEI Code: 213800CZGMYB5XTUXJ52 Sequence No.: 182087 EQS News ID: 1422695 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
August 17, 2022 09:09 ET (13:09 GMT)
