Regulatory News

Result of Annual General Meeting

30 September 2022

OTAQ, the marine technology products and solutions group for the global aquaculture, offshore oil and gas industries and geotracking sectors, announces that at the Annual General Meeting (“AGM”) held earlier today, all resolutions were duly passed on a show of hands. Resolutions 1-11 were passed as ordinary resolutions and resolutions 12-13 were passed as special resolutions. The proxy votes received from shareholders on each resolution are set out below.

 

 

Resolutions

For

(incl. discretionary)

For

(% of votes cast)

Against

Against

(% of votes cast)

Total number of votes cast

Votes Withheld

1

To receive, consider and adopt the Directors’ Report and the Company’s Annual Accounts for the financial year ended 31 March 2022

13,571,955

100%

Nil

Nil

13,571,955

 Nil

2

To approve the Directors’ Remuneration Report for the financial year ended 31 March 2022

13,571,955

100%

Nil

Nil

13,571,955

 Nil

3

To re-elect Matthew Jonathan Enright

13,571,955

100%

Nil

Nil

13,571,955

Nil

4

To re-elect Philip David Newby

13,571,955

100%

Nil

Nil

13,571,955

Nil

5

To re-elect William George Watt

13,571,955

100%

Nil

Nil

13,571,955

Nil

6

To re-elect Sarah Emily Stoten

13,571,955

100%

Nil

Nil

13,571,955

Nil

7

To re-elect Alexander Robert Hambro

13,571,955

100%

Nil

Nil

13,571,955

Nil

8

To elect Malcolm David Foster Pye

13,571,955

100%

Nil

Nil

13,571,955

Nil

9

To reappoint RSM UK Audit LLP as the Company’s auditors

13,493,685

99.42%

78,270

0.58%

13,571,955

Nil

10

To authorise the Directors to determine the remuneration of the auditors.

13,571,955

100%

Nil

Nil

13,571,955

Nil

11

To empower the Directors to allot securities up to an aggregate nominal amount of £1,887,902.60

13,565,909

99.96%

6,046

0.04%

13,571,955

 Nil

 

Special Resolutions

 

 

 

 

 

 

12

To approve the general disapplication of pre-emption rights, up to an aggregate nominal amount of £283,185.39

13,565,909

99.96%

6,046

0.04%

13,571,955

Nil

13

To approve the specific disapplication of pre-emption rights, up to a further aggregate nominal amount of £283,185.39

13,565,909

99.96%

6,046

0.04%

13,571,955

Nil

 

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.

Copies of the resolutions required to be made available for inspection in accordance with LR 9.6.2 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

 

Enquiries:

OTAQ PLC

Via Walbrook

Alex Hambro, Non-Executive Chairman

 

Phil Newby, Chief Executive Officer

Matt Enright, Chief Financial Officer

 

 

 

Dowgate Capital Ltd (Broker & Adviser)

020 3903 7715

David Poutney/James Serjeant

Nicholas Chambers/Russell Cook

 

 

 

Walbrook PR Ltd

Tel: 020 7933 8780 or [email protected]

Tom Cooper/Nick Rome

 0797 122 1972 or 07748 325 236

 

About OTAQ

OTAQ is a highly innovative technology company focused on the aquaculture, offshore and geotracking sectors. It operates in four worldwide locations: Lancaster, Aberdeen and Ulverston in the UK and Puerto Montt in Chile.

The Company's Oceansense leak detection systems have a global reputation as the industry standard solution and have been deployed successfully on hundreds of jobs. OTAQ's 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 and manufacture of underwater connectors, penetrators and communication systems.

It seeks to develop and continuously improve its product range for OTAQ’s increasingly global multi-sector client base using its specialist mechanical, electronic and software engineers with decades of experience in bringing technology products to market. Concurrently, OTAQ seeks to expand its technology portfolio through acquisitive growth, with the aim of further expanding its aquaculture, geotracking and offshore product offering.

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.