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    OTAQ   GB00BK6JQ137

OTAQ PLC

(OTAQ)
  Report
Delayed Quote. Delayed London Stock Exchange - 10/21 03:00:00 am
37 GBX   --.--%
10/18SIP Purchase, PDMR Shareholding & TVR
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10/11OTAQ plc Order for Location Tracking Technology
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10/07OTAQ : Expands Integrated Suite of Innovative Products for Underwater Sensor Platforms
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SIP Purchase, PDMR Shareholding & TVR

09/17/2021 | 11:54am EDT

OTAQ Plc (OTAQ) SIP Purchase, PDMR Shareholding & TVR 17-Sep-2021 / 16:53 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

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 September 2021 from Cytec Solutions Corporate Trustees Limited (the "SIP Trustee") in relation to the issue and allotment of 6,063 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 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"), using newly issued shares.

Details of the number of Partnership Shares purchased by the PDMRs at a price of 40 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 
Phil Newby    Chief Executive Officer  375                          375 
Matt Enright  Chief Financial Officer  375                          375 
Chris Hyde    Chief Technology Officer 250                          250 
Steve Burns   Chief Operating Officer  375                          375 

The SIP Award has been satisfied by the issue of 6,063 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 on or around 8.00 am on 24 September 2021.

Total Voting Rights

Following Admission, the enlarged issued share capital of the Company will comprise 31,388,369 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 31,388,369.

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 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, with multiple systems deployed in Scotland, Chile, Finland and Russia.

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 
 
                                                   1. Phil Newby 
                                                   2. Matt Enright 
              Name 
a)                                                 3. Chris Hyde 
 
                                                   4. Steve Burns 
 
 
 
2             Reason for the notification 
 
                                                   1. Chief Executive Officer and PDMR 
              Position/status 
a)                                                 2. Chief Financial Officer and PDMR 
 
                                                   3. Chief Technology Officer and PDMR 
 
                                                   4. Chief Operating 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 
 
 
              Description of the financial         Ordinary shares of 15 pence each 
              instrument, type of instrument 
 
a) 
 
              Identification code 
                                                   ISIN: GB00BK6JQ137 
 
 
              Nature of the transaction 
b)                                                 Purchase and allocation of Partnership and Matching Shares (no 
                                                   consideration), respectively, under the OTAQ SIP. 
 
 
 
                                                   Price(s) 
                                                                                  Volume(s) 
 
              Price(s) and volume(s)                1. 40p+Nil  375 + 375 
c)                                                  2. 40p+Nil 
                                                    3. 40p+Nil  375 + 375 
                                                    4. 40p+Nil 
                                                                                  250 + 250 
 
                                                                                  375 + 375 
 
                                                   Price(s) 
              Aggregated information                          Aggregated volume (s) 
d) 
 
                                                              6,063 
                                                40p 
 

e) Date of the transaction

17 September 2021

f) Place of the transaction

London Stock Exchange (XLON)

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ISIN:          GB00BK6JQ137 
Category Code: MSCL 
TIDM:          OTAQ 
LEI Code:      213800CZGMYB5XTUXJ52 
Sequence No.:  122473 
EQS News ID:   1234352 
 
End of Announcement  EQS News Service 
=------------------------------------------------------------------------------------
 

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1234352&application_name=news

(END) Dow Jones Newswires

September 17, 2021 11:53 ET (15:53 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 0.43% 35609.34 Delayed Quote.15.20%
LONDON BRENT OIL -0.96% 84.96 Delayed Quote.64.56%
LONDON STOCK EXCHANGE PLC -0.10% 7936 Delayed Quote.-11.70%
OTAQ PLC 0.00% 37 Delayed Quote.-10.84%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.63% 71.2729 Delayed Quote.-4.03%
WTI -0.79% 82.897 Delayed Quote.71.24%
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Financials
Sales 2021 4,05 M 5,59 M 5,59 M
Net income 2021 -0,53 M -0,74 M -0,74 M
Net cash 2021 0,60 M 0,83 M 0,83 M
P/E ratio 2021 -15,7x
Yield 2021 -
Capitalization 11,6 M 16,1 M 16,0 M
EV / Sales 2020 3,86x
EV / Sales 2021 1,94x
Nbr of Employees 42
Free-Float 47,6%
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Managers and Directors
Alexander Robert Hambro Non-Executive Chairman
George Watt Independent Non-Executive Director