Admission to trading on the accessible segment of the AQSE growth market | Tech US News

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OTAQ Plc (OTAQ)
Admission to trading on the accessible segment of the AQSE growth market
09 November 2022 / 08:00 GMT/BST
Dissemination of regulatory notice provided by EQS Group.
The publisher is solely responsible for the content of this notice.

OTAQ plc

(“OTAQ“,”Company” or “group“)

Admission to trading on the accessible segment of the AQSE growth market

and

Deletion from the standard segment of the official list

OTAQ, an innovative technology company targeting the aquaculture, geotracking and marine markets, is pleased to announce, this acceptance of its ordinary shares at 1 pence (“Everyday shares“) for trading on the accessible segment of the AQSE growing market of the Aquis stock exchange (“Entrance fee“) will take place and trading will begin today at 8:00 AM under TIDM: OTAQ and ISIN number: GB00BK6JQ137.

In addition, the listing of the Company’s ordinary shares on the standard segment of the official listing and trading thereof on the main market for securities listed on the London Stock Exchange has been canceled with effect from 8:00 a.m. today.

Pursuant to the fundraising and subsequent placement (as announced on 4 November 2022), the Company raised gross proceeds of GBP 3.60 million (approximately GBP 3.20 million, excluding expenses). The net proceeds of the fundraising and further placement will provide the company with sufficient working capital for at least the next 12 months and will mainly be used to strengthen the balance sheet and support the group in its planned next phase of growth, further developing its portfolio of innovative technologies aimed at global aquaculture, geo-tracking and markets at sea. A significantly strengthened balance sheet will also support the group’s strategy to pursue organic and acquisition growth opportunities to support further revenue growth as it moves towards profitability.

22,499,978 Warrants were granted as part of the Fundraising and Ongoing Offering, each of which entitles the holder to subscribe for one Ordinary Share and exercisable at a price of 12 pence per Ordinary Share until the second anniversary of the date of acceptance.

Board Appointments

As previously announced, Harald Rotsch and Giles Clifford will join the board as Chief Technology Officer and Non-Executive Director, respectively, with immediate effect.

Directors’ shareholding

Number of common shares after acceptance

Percentage of common shares after acceptance

Number of orders after acceptance

Alexander Hambro

687,273

0.54%

93,750

Philip Newby*

1,375,820

1.08%

125,000

Matthew Enright

21.201

0.02%

Harald Rotsch

2,385,538

1.87%

62,500

George Watt

604,638

0.47%

98,432

Sarah Hundred

993,648

0.78%

156,250

Giles Clifford

625,000

0.49%

156,250

Malcolm Pye

*Philip Newby’s actual holding includes 349,606 ordinary shares held by his wife Diana Newby

Common voting rights

Upon acceptance and after completion of the capital reorganization, the company will have 127,758,052 ordinary shares issued., with the right to vote. The company does not have its own ordinary shares. Therefore, the total number of ordinary shares of the company with voting rights will be 127,758,052.

This number 127,758,052 can be used by shareholders as a denominator for calculations to determine whether they need to report their holding in a company or a change in their holding in a company in accordance with the Financial Conduct Authority’s transparency guidelines and rules. .

Dowgate Capital Limited acts as corporate advisor and broker to AQSE.

This publication, together with all documents incorporated by reference, is considered an acceptance document for the purposes of the AQSE Emerging Market Rules for Issuers – Access. It has not been approved or reviewed by Aquis or the Financial Conduct Authority.

Capitalized terms not otherwise defined in the text of this announcement are defined in the circular dated October 12, 2022, which is available for inspection, together with all other relevant documents, on the Company’s website at www.otaq.com.

Inquiries

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 Advisor and Broker

+44 (0)20 3903 7715

David Poutney / James Serjeant

Russell Cook / Nicholas Chambers

Walbrook PR Limited – PR

+44 (0)20 7933 8780 or [email protected]

Tom Cooper / Nick Rome

07971221972 or 07748325236

About OTAQ

OTAQ is a highly innovative technology company targeting the aquaculture, geo-tracking and marine 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 in core markets both organically and through acquisitions.

OTAQ aquaculture products, which include a sonar device (developed for Minnowtech LLC) to scan shrimp in ponds and monitor water quality, are focused on maximizing welfare and production yields. In addition, the company is developing a potentially game-changing live plankton analysis product for fish and shellfish farmers. It also continues to target opportunities in the acoustic deterrent market through its Sealfence product used by salmon farmers, with global opportunities in Chile, Australia, Canada and Norway.

The company also develops high-precision location trackers for special applications. Having already added customers in safety and multi-participant sports/racing applications, the company is exploring broader market potential – including opportunities in the seafood industry.

OTAQ’s offshore product offering includes OceanSense subsea leak detection, Eagle IP camera systems, Lander seabed exploration devices and Subsea electrical connectors and penetrators. It is targeting multiple growth opportunities in new territories and has a strong customer base including Expro, Amphenol and National Oilwell Varco. The company is also focused on developing new products through this division, with the aim of increasing the cross-use of knowledge and technologies in the aquaculture arena.

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