Share Incentive Plan Purchase - Director/PDMR Shareholding DGAP

OTAQ Plc (OTAQ)
Share Incentive Plan Purchase - Director/PDMR Shareholding

18-Oct-2022 / 09:14 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


OTAQ plc

("OTAQ", or the "Company")

 

Share Incentive Plan Purchase

 

Director/PDMR Shareholding

 

OTAQ, a highly innovative technology company targeting the aquaculture, geotracking and offshore markets, received notification on 17 October 2022 from Cytec Solutions Corporate Trustees Limited (the "SIP Trustee") in relation to the purchase of 68,010 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 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 5 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

Philip Newby

Chief Executive Officer

3,000

3,000

 

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 technology company targeting the aquaculture, geotracking and offshore markets. It already has a number of established products in its portfolio and is focused on further developing its presence, customer base and cross selling opportunities within core markets both organically and via acquisition.

 

OTAQ’s aquaculture products, which include a sonar device (developed for Minnowtech LLC) to scan shrimp in ponds and water quality monitoring, are focused on maximising welfare and production yields. Additionally, the Company is developing a potentially game changing live plankton analysis product for finfish and shellfish farmers. It also continues to target opportunities in the acoustic deterrent devices market via its Sealfence product, which is used by salmon farmers, with global opportunities in Chile, Australia, Canada and Norway.

The Company is also developing high accuracy location trackers for specialist applications. Having already added clients within safety and multiple participant sport/racing applications, the Company is investigating wider market potential - including opportunities in the seafood industry.

OTAQ’s offshore product range includes OceanSense subsea leak detection, Eagle IP camera systems, Lander seabed survey devices and Subsea electrical connectors and penetrators. It is targeting a number of growth opportunities in new territories and has a strong client base including Expro, Amphenol and National Oilwell Varco. The Company is also focused on the development of new products through this division, with the aim of increased cross-deployment of skills and technologies into the aquaculture arena.

 

 

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

 

 

Philip Newby

 

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chief Executive 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

 

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

 

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 of Partnership and award of Matching Shares under the OTAQ SIP.

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

5p & nil

3,000 & 3,000

 

 

 

d)

 

Aggregated information

 

 

 

Price(s)

 

Aggregated volume (s)

5p

6,000

 

 

e)

 

Date of the transaction

 

17 October 2022

f)

 

Place of the transaction

 

London Stock Exchange (XLON)

 



ISIN: GB00BK6JQ137
Category Code: MSCU
TIDM: OTAQ
LEI Code: 213800CZGMYB5XTUXJ52
Sequence No.: 195123
EQS News ID: 1465807

 
End of Announcement EQS News Service

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