Contract & EPS Licensing Update (1244610)
29 October 2021 - 5:00PM
UK Regulatory
OTAQ Plc (OTAQ) Contract & EPS Licensing Update 29-Oct-2021
/ 07:00 GMT/BST Dissemination of a Regulatory Announcement,
transmitted by EQS Group. The issuer is solely responsible for the
content of this announcement.
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OTAQ plc
("OTAQ", or the "Company")
Contract & EPS Licensing Update
OTAQ, the marine technology products and solutions group for the
global aquaculture and offshore oil and gas industries, announces
that it has been given notice that one of its contracted customers
making use of OTAQ's acoustic deterrent devices ("ADDs") operating
in Scotland, has given the required notice to terminate in
accordance with the original terms of the two-year agreement ending
in April 2022.
OTAQ, at the request of Marine Scotland, has participated in a
trial programme in the Moray Firth with OTAQ being the only ADD
manufacturer working on this project. Marine Scotland regulates all
entities with activities within Scottish waters. The trial phase of
this programme has now concluded, and the data collected is being
processed with an expectation of results before the end of 2021.
The Board believes that this processed data will support and better
inform the EPS (European Protected Species) licensing process
required to enable the future operation of ADDs within Scottish
waters.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Contacts:
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 Otaq@walbrookpr.com
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 operates 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, Sealfence, designed to
protect marine-based aquaculture sites from predation, with
multiple systems deployed in Scotland, Chile, Finland and
Russia.
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 products using
its specialist mechanical, electronic and software engineers with
decades of experience in bringing underwater technology products to
market. Concurrently, OTAQ seeks to expand its technology portfolio
through acquisitive growth, with the aim of further expanding its
aquaculture 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.
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ISIN: GB00BK6JQ137
Category Code: MSCM
TIDM: OTAQ
LEI Code: 213800CZGMYB5XTUXJ52
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 125510
EQS News ID: 1244610
End of Announcement EQS News Service
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