Regulatory News

Result of Annual General Meeting

25 September 2020

OTAQ (LSE: OTAQ), the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, announces that at the Annual General Meeting (AGM) held earlier today, all resolutions were duly passed on a show of hands. Resolutions 1-14 and resolution 18 were passed as ordinary resolutions and resolutions 15-17 were passed as special resolutions. The proxy votes received from shareholders on each resolution are set out below.

 

Resolution

For

(incl. discretionary)

For

(% of votes cast)

Against

Against

(% of votes cast)

Total number of votes cast

Votes cast (% of issued share capital)

Votes Withheld

1

Director's Report and Company's Annual Accounts

3,587,793

100%

nil

0%

3,587,793

11.7%

26,960,806

2

Directors' Remuneration Report

3,587,793

100%

nil

0%

3,587,793

11.7%

26,960,806

3

Remuneration Policy

3,587,793

100%

nil

0%

3,587,793

11.7%

26,960,806

4

Mr Enright

3,587,793

100%

nil

0%

3,587,793

11.7%

26,960,806

5

Mr Newby

3,587,793

100%

nil

0%

3,587,793

11.7%

26,960,806

6

Mr Watt

3,587,793

100%

nil

0%

3,587,793

11.7%

26,960,806

7

Ms Gills

3,587,793

100%

nil

0%

3,587,793

11.7%

26,960,806

8

Mr Hambro

3,587,793

100%

nil

0%

3,587,793

11.7%

26,960,806

9

Re-appoint the Company's auditor

3,587,793

100%

nil

0%

3,587,793

11.7%

26,960,806

10

Directors' Remuneration of the auditors

3,587,793

100%

nil

0%

3,587,793

11.7%

26,960,806

11

Allotment of securities

3,587,793

100%

nil

0%

3,587,793

11.7%

26,960,806

12

Rules of Long-Term Incentive Plan

3,587,793

100%

nil

0%

3,587,793

11.7%

26,960,806

13

Rules of Share Incentive Plan

3,587,793

100%

nil

0%

3,587,793

11.7%

26,960,806

14

Terms of Employee Benefit Trust

3,587,793

100%

nil

0%

3,587,793

11.7%

26,960,806

15

General disapplication of pre-emption rights

3,587,793

100%

nil

0%

3,587,793

11.7%

26,960,806

16

Specific disapplication of pre-emption rights

3,587,793

100%

nil

0%

3,587,793

11.7%

26,960,806

17

Articles of Association

3,587,793

100%

nil

0%

3,587,793

11.7%

26,960,806

18

Company documents or information

3,587,793

100%

nil

0%

3,587,793

11.7%

26,960,806

 

Please note a 'vote withheld' is not a vote under English law and is not counted in the calculation of votes 'for' and 'against' a resolution or the total number of votes cast.

The total number of Ordinary Shares in issue on 25 September 2020 was 30,548,599. Shareholders are entitled to one vote per Ordinary Share held.

Copies of the resolutions required to be made available for inspection in accordance with LR 9.6.2 along with new Articles have been submitted today to the Financial Conduct Authority and will shortly be available for inspection on the National Storage Mechanism website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism 

 

Contacts:

OTAQ PLC

Via Walbrook

Alex Hambro, Non-Executive Chairman

 

Phil Newby, Chief Executive Officer

 
  

Dowgate Capital Ltd (Broker & Adviser)

020 3903 7715

James Serjeant

 
  

Walbrook PR Ltd

Tel: 020 7933 8780 or [email protected]

Tom Cooper/Nick Rome/Nicholas Johnson

 0797 122 1972 or 07748 325 236 or 07884 664 686

 

About OTAQ:

OTAQ is a highly innovative marine technology company focused on the marine aquaculture, offshore energy, renewables and oceanographic research sectors. It has 36 employees in four worldwide locations: Lancaster, Aberdeen and Ulverston in the UK and Puerto Montt in Chile. OTAQ's marine technology portfolio includes a market-leading intelligent acoustic deterrent system, designed to protect marine-based aquaculture sites from predation, with multiple systems deployed in Scotland, Chile, Finland and Russia.

The Oceansense leak detection systems have a global reputation as the industry standard solution and have been deployed successfully on hundreds of jobs.  The Dragonfish laser measurement system is fast becoming recognised as one of the most accurate underwater precision laser measurement systems available. OTAQ also has significant experience in the design & manufacture of underwater connectors, penetrators & communication systems.

It seeks to develop and continuously improve its products using its specialist mechanical, electronic and software engineers with decades of experience in bringing underwater technology products to market.

OTAQ is proud to be fully ISO 9001;2015 accredited through DNV-GL. ISO 9001 is an internationally recognised quality management system and demonstrates OTAQ's commitment to consistency, continual improvement and customer satisfaction. The certification also demonstrates its ability to consistently deliver products and services to market whilst meeting statutory and regulatory requirements by applying an effective quality management system.