Grant of Awards under Long Term Incentive Plan
20 August 2021
OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, announces that on 19 August 2021, the Company's Remuneration Committee approved the grant of 550,000 Enterprise Management Incentive ("EMI") share options (the "Options") of ordinary shares of 15p each ("Ordinary Shares") pursuant to the Company's Long Term Incentive Plan ("LTIP"), to certain of the Company's Directors and other senior managers, being persons discharging managerial responsibilities ("PDMRs") as set out below:
The Options granted under the LTIP are subject to certain performance conditions.
Following the above grant of Options, there are a total of 2,041,311 share options over Ordinary Shares of the Company in issue, representing 6.51% of the Company's current issued share capital of 31,375,840 Ordinary Shares.
The FCA notifications in respect of the above grant of the options, made in accordance with the requirements of the EU Market Abuse Regulation, are appended below.
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 Dragonfishlaser 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.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.