Regulatory News
Share Incentive Plan Purchase - Director/PDMR Shareholding
OTAQ Plc (OTAQ)Share Incentive Plan Purchase - Director/PDMR Shareholding 18-Oct-2022 / 09:14 GMT/BSTDissemination 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.
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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.
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| ISIN: | GB00BK6JQ137 |
| Category Code: | MSCU |
| TIDM: | OTAQ |
| LEI Code: | 213800CZGMYB5XTUXJ52 |
| Sequence No.: | 195123 |
| EQS News ID: | 1465807 |
| End of Announcement | EQS News Service |
