Otaq PLC - Board Changes London Stock Exchange
RNS Number : 2888R
Otaq PLC
29 June 2020


OTAQ plc

('OTAQ' or the 'Company')


Board Changes


OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, announces the appointment of Matt Enright to the Board as Chief Financial Officer and Company Secretary at the Company Board meeting held on 26 June 2020.


Matt Enright, who joined the Company on 1 April 2020 is replacing interim Chief Financial Officer Simon Walters who oversaw the successful transaction to list OTAQ on the Stock Market and to raise new monies and has stood down from the Board.


Matt qualified as a chartered accountant in 2003 with Baker Tilly (now RSM). He has experience of working with internationally focussed growth businesses across a range of industries. Matt moved into the private sector in 2006 where he worked with owner-led and private equity-owned businesses. Matt joined TRM Packaging as Finance Director in 2013, a specialist cardboard box manufacturer, helping to grow the business before playing a prominent role in the sale of the business to DS Smith plc.


Alex Hambro, Non-Executive Chairman, commented: "I would like to acknowledge Simon's significant contribution since the Autumn as Chief Financial Officer in the successful completion of the Hertsford and OTAQ deal. The transaction benefitted greatly from his experience. We wish Simon the very best for the future. 


"OTAQ is an ambitious company with a strategy to further expand globally. We have a strong Board and Executive team committed to delivering our innovative products to the aquaculture and offshore industries which are embracing the benefits that applied technologies can bring to their businesses.  We welcome Matt to the team and look forward to his contribution."


Commenting on his appointment Matt Enright added: "I'm delighted to have joined OTAQ at such an exciting time and look forward to working with the team to help continue and build on the recent successes of the business."




OTAQ plc

Via Walbrook

Alex Hambro, Non-Executive Chairman


Phil Newby, Chief Executive Officer




Dowgate Capital Ltd (Broker & Adviser)

020 3903 7715

James Serjeant




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 36 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.


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