OTAQ Plc (OTAQ) Result of General Meeting 07-Nov-2022 / 12:00
GMT/BST Dissemination of a Regulatory Announcement, transmitted by
EQS Group. The issuer is solely responsible for the content of this
announcement.
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OTAQ plc
("OTAQ", the "Company" or the "Group")
Result of General Meeting
OTAQ, the highly innovative technology company targeting the
aquaculture, geotracking and offshore markets, announces that at
the General Meeting held earlier today, all resolutions were duly
passed on a show of hands. Resolution 3 was passed as ordinary
resolution and resolutions 1, 2, 4 and 5 were passed as special
resolutions. The proxy votes received from shareholders for each
resolution are set out below.
As a result of the passing of the resolutions, the Proposals,
including the firm Placing, Broker Option, Open Offer, Capital
Reorganisation and Board Appointments, announced on 12 October
2022, will proceed, conditional on Admission. The further placing
announced on 4 November 2022 which was undertaken on a
non-pre-emptive basis and essentially the same terms as the
Fundraising is conditional only on Admission.
The Board now anticipates that admission of its ordinary shares
of 1 penny each ("Ordinary Shares") to trading on the Access
Segment of the AQSE Growth Market of the Aquis Stock Exchange will
now take place and dealings will commence at 8.00 a.m. on 9
November 2022, under the TIDM: OTAQ and ISIN Number: GB00BK6JQ137
("Admission"). Contemporaneously, the listing of the Company's
Ordinary Shares on the standard segment of the Official List and
trading of those shares on the main market for listed securities of
the London Stock Exchange will be cancelled.
Votes
For For Against cast
Total Votes
Resolutions (incl. (% of Against (% of number of (% of Withheld
discretionary) votes votes votes cast issued
cast) cast) share
capital)
1 To subdivide and convert the Existing 15,780,736 100% - - 15,790,830 41.8% 10,094
Ordinary Shares
2 To alter the Articles of Association of 15,780,736 100% - - 15,790,830 41.8% 10,094
the Company
To authorise the Directors to allot
3 shares pursuant to the Fundraising and 15,780,736 100% - - 15,790,830 41.8% 10,094
grant of the Warrants
To disapply the pre-emption rights in
4 s.561 of the Companies Act 2006 in 15,780,736 100% - - 15,790,830 41.8% 10,094
relation to the allotment of equity
securities authorised by Resolution 3
5 To cancel the Deferred Shares, subject 15,780,736 100% - - 15,790,830 41.8% 10,094
to Court approval
Please note a 'vote withheld' is not a vote under English law
and is not counted in the calculation of votes 'for' and 'against'
a resolution or the total number of votes cast.
Copies of the resolutions required to be made available for
inspection in accordance with LR 14.3.6 have been submitted today
to the Financial Conduct Authority and will shortly be available
for inspection on the National Storage Mechanism website at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
Capitalised terms not otherwise defined in the text of this
announcement are defined in the Circular dated 12 October 2022
which is available for inspection on the Company's website,
www.otaq.com. In addition, the full text of the resolutions passed
at the General Meeting can be found in the Notice of General
Meeting which forms part of the Circular. A copy of this
announcement is also available on the Company's website.
Enquiries
OTAQ plc +44 (0)1524 748028
Alex Hambro, Non-Executive Chairman
Phil Newby, Chief Executive Officer
Matt Enright, Chief Financial Officer
Dowgate Capital Limited - AQSE Corporate Adviser & Broker +44 (0)20 3903 7715
David Poutney / James Serjeant
Russell Cook / Nicholas Chambers
Walbrook PR Limited - PR +44 (0)20 7933 8780 or OTAQ@walbrookpr.com
Tom Cooper / Nick Rome 07971221972 or 07748325236
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.
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ISIN: GB00BK6JQ137
Category Code: ROM
TIDM: OTAQ
LEI Code: 213800CZGMYB5XTUXJ52
Sequence No.: 199330
EQS News ID: 1480755
End of Announcement EQS News Service
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(END) Dow Jones Newswires
November 07, 2022 07:00 ET (12:00 GMT)
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