OTAQ Plc (OTAQ)
27 September 2023
("OTAQ", the "Company" or the "Group")
OTAQ, the innovative technology company targeting the aquaculture, geotracking and offshore markets, announces that George Watt has stepped down from his position as Non-Executive Director and Chair of the Audit Committee as of 20 September 2023.
George has made a significant contribution to the Company since joining the Board in March 2020, upon admission to the London Stock Exchange. The Board thanks George for his commitment to the Company’s development.
Adam Reynolds, Non-Executive Chairman, commented: “I would like to thank George for all of his work and contribution to OTAQ during his three years on the Board. He has been a highly valued member of our team and I know that all here at OTAQ will wish him well with his future endeavours.”
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.
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
|EQS News ID:
|End of Announcement
|EQS News Service