Result of Annual General Meeting (1658457)

OTAQ Plc (OTAQ) Result of Annual General Meeting 15-Jun-2023 / 14:50 GMT/BST

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OTAQ PLC

("OTAQ" or the "Company")

Result of Annual General Meeting

OTAQ plc (OTAQ.AQ), the innovative technology company targeting the aquaculture, geotracking and offshore markets, announces that at the Annual General Meeting held earlier today, all resolutions were duly passed. Resolutions 1-11 were passed as ordinary resolutions and resolutions 12-14 were passed as special resolutions. The proxy votes received from shareholders on each resolution are set out below.

                                                                     For           Against            Votes 
                                                      For                                  Total      cast (% 
              Resolutions                                            (% of Against (% of   number of  of       Votes 
                                                      (incl.         votes         votes   votes cast issued   Withheld 
                                                      discretionary) cast)         cast)              share 
                                                                                                      capital) 
              To receive, consider and adopt the 
1             Directors' Report and the Company's     21,540,928     100%  Nil     Nil     21,540,928 16.84% 
              2022 Annual Accounts                                                                             Nil 
              To approve the Directors' Remuneration 
2             Report for the financial period ended   21,540,928     100%  Nil     Nil     21,540,928 16.84% 
              31 December 2022                                                                                 Nil 
3             To re-elect Matthew Enright             21,540,928     100%  Nil     Nil     21,540,928 16.84%   Nil 
4             To re-elect Philip Newby                21,540,928     100%  Nil     Nil     21,540,928 16.84%   Nil 
5             To re-elect William Watt                21,540,928     100%  Nil     Nil     21,540,928 16.84%   Nil 
6             To re-elect Sarah Stoten                21,540,928     100%  Nil     Nil     21,540,928 16.84%   Nil 
7             To elect Adam Reynolds                  21,540,928     100%  Nil     Nil     21,540,928 16.84%   Nil 
8             To elect Giles Clifford                 21,540,928     100%  Nil     Nil     21,540,928 16.84%   Nil 
9             To elect Harald Rotsch                  21,540,928     100%  Nil     Nil     21,540,928 16.84% 
10            To reappoint Azets Audit Services       21,540,928     100%  Nil     Nil     21,540,928 16.84%   Nil 
              Limited as the Company's auditors 
              To authorise the Directors to determine 
11            the remuneration of the auditors.       21,540,928     100%  Nil     Nil     21,540,928 16.84% 
                                                                                                               Nil 
              Special Resolutions 
              To authorise the Directors to allot 
12            ordinary shares and relevant securities 21,540,928     100%  Nil     Nil     21,540,928 16.84% 
              pursuant to section 551 of the                                                                   Nil 
              Companies Act. 
              To authorise the Directors to disapply 
              pre-emption rights over shares 
13            representing 5% of the Company's issued 21,540,928     100%  Nil     Nil     21,540,928 16.84%   Nil 
              share capital, as if section 561 of the 
              Companies Act did not apply 
              To authorise the Directors to further 
              disapply pre-emption rights over shares 
14            representing an additional 5% of the    21,540,928     100%  Nil     Nil     21,540,928 16.84%   Nil 
              Company's issued share capital, as if 
              section 561 of the Companies Act did 
              not apply 

Enquiries:

OTAQ PLC                               [phone] 
Adam Reynolds, Non-Executive Chairman 
Phil Newby, Chief Executive Officer 
Matt Enright, Chief Financial Officer 
 
Dowgate Capital Limited                [phone] 
(AQSE Corporate Advisor & Broker) 
David Poutney / James Serjeant 
 
Nicholas Chambers / Russell Cook 

About OTAQ

OTAQ is a highly innovative technology company targeting the aquaculture, geotracking and offshore 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 within core markets both organically and via acquisition.

OTAQ's aquaculture products, which include a sonar device (developed for Minnowtech LLC) to scan shrimp in ponds and water quality monitoring, are focused on maximising welfare and production yields. Additionally, the Company is developing a potentially game changing live plankton analysis product for finfish and shellfish farmers. It also continues to target opportunities in the acoustic deterrent devices market via its Sealfence product, which is used by salmon farmers, with global opportunities in Chile, Australia, Canada and Norway.

The Company is also developing high accuracy location trackers for specialist applications. Having already added clients within safety and multiple participant sport/racing applications, the Company is investigating wider market potential - including opportunities in the seafood industry.

OTAQ's offshore product range includes OceanSense subsea leak detection, Eagle IP camera systems, Lander seabed survey devices and Subsea electrical connectors and penetrators. It is targeting a number of growth opportunities in new territories and has a strong client base including Expro, Amphenol and National Oilwell Varco. The Company is also focused on the development of new products through this division, with the aim of increased cross-deployment of skills and technologies into the aquaculture arena.

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ISIN:          GB00BK6JQ137 
Category Code: AGM 
TIDM:          OTAQ 
LEI Code:      213800CZGMYB5XTUXJ52 
Sequence No.:  251297 
EQS News ID:   1658457 
 
End of Announcement  EQS News Service 
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(END) Dow Jones Newswires

June 15, 2023 09:50 ET (13:50 GMT)