OTAQ Plc Announces New Share Issuance Under SIP and Update on Total Voting Rights

OTAQ Plc, a technology company serving the aquaculture and offshore markets, has announced the allotment of new shares under its Share Incentive Plan (SIP). The SIP, approved by HM Revenue and Customs, allows employees to acquire shares using pre-tax salary deductions, with a matching share allocation system. According to the announcement on April 19, 2024, the company issued 55,003 ordinary shares to benefit SIP participants, impacting Persons Discharging Managerial Responsibilities (PDMR).

The issuance includes both purchased Partnership Shares and complimentary Matching Shares, detailed against the names of the participating PDMRs. Notably, Philip Newby, CEO, and Harald Rotsch, CTO, each acquired 5,000 Partnership Shares at 3.00 pence per share, complemented by an equal number of Matching Shares. Following the transaction, their total beneficial holdings are 1,478,382 and 2,481,478 shares, respectively, reflecting their increased stake in the company. This allocation contributes to a new total of 128,307,280 ordinary shares with voting rights, as no shares are held in treasury.

These developments are expected to enhance employee ownership and participation in the company's growth. The new shares will be tradeable on the Aquis Stock Exchange following their expected admission on April 22, 2024.