OTAQ Plc (OTAQ) Admission to trading on the Access Segment of
the AQSE Growth Market 09-Nov-2022 / 08:00 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")
Admission to trading on the Access Segment of the AQSE Growth
Market
and
Delisting from the Standard Segment of the Official List
OTAQ, the innovative technology company targeting the
aquaculture, geotracking and offshore markets, is pleased to
announce, 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 ("Admission") will take
place and dealings will commence at 8.00 a.m. today, under the
TIDM: OTAQ and ISIN Number: GB00BK6JQ137.
Further, the listing of the Company's Ordinary Shares on the
standard segment of the Official List and their trading on the main
market for listed securities of the London Stock Exchange is
cancelled with effect from 8.00 a.m. today.
Pursuant to the Fundraising and Further Placing (as announced on
4 November 2022), the Company has raised gross proceeds of GBP3.60
million (approximately GBP3.20 million, net of expenses). The net
proceeds of the Fundraising and Further Placing will provide the
Company with sufficient working capital for at least the next 12
months and will principally be used to strengthen the balance sheet
and support the Group through its planned next stage of growth,
further developing its portfolio of innovative technologies
targeting the global aquaculture, geotracking and offshore markets.
The much strengthened balance sheet will also support the Group's
strategy of pursuing organic and acquisitive growth opportunities
that will underpin further revenue growth as it progresses towards
profitability.
Under the Fundraising and Further Placing, 22,499,978 Warrants
have been granted, each of which entitles the holder to subscribe
for one Ordinary Share and is exercisable at a price of 12 pence
per Ordinary Share up to the second anniversary from the date of
Admission.
Board Appointments
As previously announced, Harald Rotsch and Giles Clifford will
join the Board as Chief Technology Officer and a Non-Executive
Director, respectively, with immediate effect.
Directors' shareholding
Number of Ordinary Shares following Percentage of Ordinary Shares Number of Warrants following
Admission following Admission Admission
Alexander 687,273 0.54% 93,750
Hambro
Philip Newby* 1,375,820 1.08% 125,000
Matthew 21,201 0.02% -
Enright
Harald Rotsch 2,385,538 1.87% 62,500
George Watt 604,638 0.47% 98,432
Sarah Stoten 993,648 0.78% 156,250
Giles 625,000 0.49% 156,250
Clifford
Malcom Pye - - -
*Philip Newby's beneficial holding includes 349,606 Ordinary
Shares held by his wife, Diane Newby
Total Voting Rights
On Admission, and following completion of the Capital
Reorganisation, the Company will have 127,758,052 Ordinary Shares
in issue, 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
127,758,052.
This figure of 127,758,052 may be used by shareholders as the
denominator for the calculations by which they can determine if
they are required to notify their interest in, or a change to their
interest in, the Company under the Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.
Dowgate Capital Limited is acting as the AQSE Corporate Adviser
and Broker to the Company.
This announcement, together with any documents incorporated by
reference, shall be deemed to constitute an admission document for
the purposes of the AQSE Growth Market Rules for Issuers - Access.
It has not been approved or reviewed by the Aquis Stock Exchange or
the Financial Conduct Authority.
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, along with any other relevant
documents, on the Company's website, www.otaq.com.
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: MSCU
TIDM: OTAQ
LEI Code: 213800CZGMYB5XTUXJ52
Sequence No.: 199699
EQS News ID: 1482419
End of Announcement EQS News Service
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(END) Dow Jones Newswires
November 09, 2022 03:00 ET (08:00 GMT)
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