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OTAQ Plc Director's Dealing 2022
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Director's Dealing
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National Storage Mechanism | Additional information
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 [email protected] |
| 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 |