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OTAQ PLC - Share Incentive Plan Purchase
RNS Number : 6078F
OTAQ PLC
18 November 2020
 

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 November 2020 from Cytec Solutions Corporate Trustees Limited (the "SIP Trustee") in relation to the issue and allotment of 5,718 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 a price of 35 pence 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"), paid for by the Company.

 

Details of the number of Partnership Shares purchased by the PDMRs at a price of 35 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 Shares

Number of Matching Shares

Matt Enright

Chief Financial Officer

285

285

Steve Burns

Chief Operations Officer

428

428

 

The SIP Award has been satisfied by the issue of 713 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 at 8.00 a.m. on or around 20 November 2020.

 

Total Voting Rights

 

Following Admission, the enlarged issued share capital of the Company will comprise 30,554,317 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 30,554,317.

 

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 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 has 42 employees 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, designed to protect marine-based aquaculture sites from predation, with multiple systems deployed in Scotland, Chile, Finland and Russia.

 

The Oceansense leak detection systems have a global reputation as the industry standard solution and have been deployed successfully on hundreds of jobs.  The 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 & manufacture of underwater connectors, penetrators & 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.

 

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.  Matt Enright

2.  Steve Burns

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

1. Chief Financial Officer and PDMR

2. Chief Operations 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

 

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 of the financial instrument, type of instrument

 

Identification code

 

Ordinary shares of 15 pence 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)

1. 35p + nil

2. 35p + nil

 

1. 285 + 285

2. 428 + 428

 

 

d)

 

Aggregated information

 

 

 

Price(s)

 

Aggregated volume (s)

35p

1,426

 

 

e)

 

Date of the transaction

 

17 November 2020

f)

 

Place of the transaction

 

London Stock Exchange (XLON)

 

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