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OTAQ Plc Director's Dealing 2021
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Director's Dealing
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National Storage Mechanism | Additional information
OTAQ Plc (OTAQ)
OTAQ Plc: Grant of Awards under Long Term Incentive Plan
20-Aug-2021 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
20 August 2021
OTAQ plc
("OTAQ" or the "Company")
Grant of Awards under Long Term Incentive Plan
OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, announces that on 19 August 2021, the Company's Remuneration Committee approved the grant of 550,000 Enterprise Management Incentive ("EMI") share options (the "Options") of ordinary shares of 15p each ("Ordinary Shares") pursuant to the Company's Long Term Incentive Plan ("LTIP"), to certain of the Company's Directors and other senior managers, being persons discharging managerial responsibilities ("PDMRs") as set out below:
| Proposed Option Holder | Director / PDMR | Number of Shares under Option | Option Price | Vesting Date |
| Phil Newby | Director | 250,000 | £0.60 | 18 August 2024 |
| Matt Enright | Director | 100,000 | £0.60 | 18 August 2024 |
| Steve Burns | PDMR | 100,000 | £0.60 | 18 August 2024 |
| Chris Hyde | PDMR | 100,000 | £0.60 | 18 August 2024 |
The Options granted under the LTIP are subject to certain performance conditions.
Following the above grant of Options, there are a total of 2,041,311 share options over Ordinary Shares of the Company in issue, representing 6.51% of the Company's current issued share capital of 31,375,840 Ordinary Shares.
The FCA notifications in respect of the above grant of the options, made in accordance with the requirements of the EU Market Abuse Regulation, are appended below.
Contacts:
| OTAQ PLC | Via Walbrook |
| Alex Hambro, Non-Executive Chairman | |
| Phil Newby, Chief Executive Officer | |
| Dowgate Capital Ltd (Broker & Adviser) | 020 3903 7715 |
| David Poutney / James Serjeant Nicholas Chambers |
|
| Walbrook PR Ltd | Tel: 020 7933 8780 or [email protected] |
| 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.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
| Phil Newby | Chief Executive Officer & PDMR |
| Matt Enright | Chief Financial Officer & PDMR |
| Chris Hyde | Chief Technical Officer & PDMR |
| Steve Burns | Chief Operating Officer & PDMR |
2
Reason for the notification
a)
Position/status
See above
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
Options over Ordinary shares of 15p each in OTAQ Plc
Identification code (ISIN) for OTAQ Group plc ordinary shares: GB00BK6JQ137
b)
Nature of the transaction
Grant of options over ordinary shares of 15p each in the Company under EMI qualifying scheme
c)
Price(s) and volume(s)
| Director / PDMR | No. of options granted | Exercise price |
| Phil Newby | 250,000 | £0.60 |
| Matt Enright | 100,000 | £0.60 |
| Chris Hyde | 100,000 | £0.60 |
| Steve Burns | 100,000 | £0.60 |
d)
Aggregated information
- Aggregated volume
- Price
n/a
e)
Date of the transaction
19 August 2021
f)
Place of the transaction
Outside of a trading venue
| ISIN: | GB00BK6JQ137 |
| Category Code: | MSCL |
| TIDM: | OTAQ |
| LEI Code: | 213800CZGMYB5XTUXJ52 |
| Sequence No.: | 120416 |
| EQS News ID: | 1227836 |
| End of Announcement | EQS News Service |