OTAQ Plc Announces SIP Purchase, PDMR Shareholding and Total Voting Rights Update

On 19 August 2024, OTAQ Plc, a technology company serving aquaculture and offshore markets, announced updates regarding their Share Incentive Plan (SIP) and total voting rights. Cytec Solutions Corporate Trustees Limited notified OTAQ of the issuance and allotment of 35,381 ordinary shares of 1 penny each and the purchase of 6,392 ordinary shares for the benefit of SIP participants.

The SIP allows employees to acquire shares using pre-tax salary contributions. These shares, known as Partnership Shares, are matched by the company with an equal number of new Ordinary Shares, called Matching Shares. CEO Philip Newby and CFO Justine Dowds both received 3,797 Partnership Shares and 3,797 Matching Shares each.

The new shares, which total 35,381, will rank equally with existing shares. Post-admission, set for 23 August 2024, OTAQ will have a total of 128,487,432 Ordinary Shares with voting rights. This number will be used to calculate shareholder interests under the Financial Conduct Authority’s rules.