New Risk • Nov 13
New major risk - Revenue and earnings growth Earnings have declined by 6.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 6.2% per year over the past 5 years. Market cap is less than US$10m (UK£3.85m market cap, or US$4.92m). Price Target Changed • Nov 10
Price target decreased by 60% to UK£0.16 Down from UK£0.40, the current price target is provided by 1 analyst. New target price is 433% above last closing price of UK£0.03. Stock is down 33% over the past year. The company posted a net loss per share of UK£0.0085 last year. Board Change • Nov 10
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Non-Executive Chairman Adam Reynolds was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Jul 09
OTAQ plc, Annual General Meeting, Jul 31, 2024 OTAQ plc, Annual General Meeting, Jul 31, 2024. Location: the barracks, white cross, la1 4xf, lancaster United Kingdom Tillkännagivande • May 20
OTAQ plc, Annual General Meeting, Jun 15, 2023 OTAQ plc, Annual General Meeting, Jun 15, 2023, at 10:00 Coordinated Universal Time. Location: 8-3-4 Harpers Mill, South Road, White Cross Lancaster United Kingdom Tillkännagivande • Nov 09
OTAQ Announces Cancellation of Securities At the request of OTAQ plc, ordinary shares of 15P each, fully paid, have been cancelled from admission to trading on London Stock Exchange with effect from 08:00 on November 9, 2022. Tillkännagivande • Oct 13
OTAQ plc Announces Management Appointments The board of OTAQ plc recognise that the management needs and requirements have evolved as the Group completes its reorientation of its operations to enable it to focus on the commercialization of its strong pipeline of new products and opportunities. Consequently, the board will reinforce the executive team with the addition of relevant skills and expertise in the offshore environment, by, conditional upon AQSE Admission, appointing Harald Rotsch as chief technology officer. Harald will provide valuable technical expertise and knowledge to further strengthen the growth strategy of the Group. With a PhD in Physics, Harald has over 20 years’ engineering experience in the marine environment with responsibility for leading on design, installation and commissioning on over 30 offshore and marine related projects. Prior to joining the Group as Technical Director of OTAQ Offshore Limited (previously named MarineSense Limited) in 2019, he founded MarineSense in 2007 where he was Managing Director until the company was bought by the Company in 2018. The company appointed Giles Clifford as non-executive director. Gile is qualified accountant specialising in strategic commercial finance with significant experience in business strategy and improvement across various sectors, Giles will assist management in developing and planning the future growth plans for the Group, followed by resilient executable delivery. Since 2015, Giles has been Director of Business Development for Brendon Street Investments Limited and, on behalf of the Wray Family Office, leads on various key projects and investment company holdings, providing review, insight and strategic commercial financial support. Previously, Giles was Finance Director of Warner Bros Studios Leavesden, and before that Head of Finance before moving to Head of Business Improvement at Wembley National Stadium Limited, where he was a key team member during the new stadium financing and build phase, and then running the new stadium for its first 8 years. Giles qualified as an accountant with the Chartered Institute of Public Financial Accounting in 1996. Tillkännagivande • Oct 12
OTAQ Intends to Cancel Its Listing to the Standard Segment of the Official List and Trading on the Main Market for Listed Securities of London Stock Exchange OTAQ plc announced that it has raised GBP 2.00 million by way of a firm placing of 50,000,000 New Ordinary Shares at the Issue Price of 4 pence per share. The Company also announces that Shareholders are to be offered the opportunity to participate in an Open Offer at the same Issue Price all conditional, inter alia, upon the approval of Shareholders at a forthcoming General Meeting. The Proposals announced include the cancellation of the Company's listing to the Official List and application for the admission of the New Ordinary Shares to trading on the Access Segment of the AQSE Growth Market. Further to the Fundraising, the Company intends to cancel its listing to the standard segment of the Official List and trading on the main market for listed securities of London Stock Exchange and has applied to Aquis Stock Exchange for the Enlarged Share Capital to be listed on the Access Segment of the AQSE Growth Market. Pursuant to Listing Rule 5.2.8, the Company is required to give at least 20 business days' notice of the intended Delisting. Therefore, it is expected that admission of the Existing Ordinary Shares will become effective and that dealings in the New Ordinary Shares will commence on the AQSE Growth Market at 8.00 a.m. on November 9, 2022 and would occur simultaneously with the Delisting becoming effective. Tillkännagivande • Oct 01
OTAQ plc, Annual General Meeting, Sep 30, 2022 OTAQ plc, Annual General Meeting, Sep 30, 2022. Reported Earnings • Sep 09
Full year 2022 earnings released: UK£0.059 loss per share (vs UK£0.017 loss in FY 2021) Full year 2022 results: UK£0.059 loss per share (further deteriorated from UK£0.017 loss in FY 2021). Revenue: UK£4.29m (up 5.9% from FY 2021). Net loss: UK£1.90m (loss widened 257% from FY 2021). Reported Earnings • Jul 28
Full year 2022 earnings released: UK£0.059 loss per share (vs UK£0.017 loss in FY 2021) Full year 2022 results: UK£0.059 loss per share (down from UK£0.017 loss in FY 2021). Revenue: UK£4.29m (up 5.9% from FY 2021). Net loss: UK£1.90m (loss widened 257% from FY 2021). Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (4 non-independent directors). CEO & Director Phil Newby is the most experienced director on the board, commencing their role in 2020. Independent Non-Executive Director Malcolm David Pye was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Dec 17
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: UK£0.028 loss per share (down from UK£0.004 loss in 1H 2021). Revenue: UK£1.82m (down 10% from 1H 2021). Net loss: UK£881.0k (loss widened UK£766.0k from 1H 2021). Revenue was in line with analyst estimates. Recent Insider Transactions Derivative • Aug 13
CEO & Director exercised options and sold UK£126k worth of stock On the 11th of August, Philip Newby exercised options to acquire 350k shares at no cost and sold these for an average price of UK£0.36 per share. This trade did not impact their existing holding. Since September 2020, Philip's direct individual holding has increased from 516.58k shares to 517.97k. Company insiders have collectively sold UK£72k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Jul 21
Full year 2021 earnings released The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2021 results: Revenue: UK£4.05m (up 19% from FY 2020). Net loss: UK£534.0k (loss narrowed 80% from FY 2020). Tillkännagivande • Feb 26
OTAQ Appoints Malcolm Pye to its Board as Non-Executive Director OTAQ announced that Malcolm Pye will join the Board of OTAQ as a Non-Executive Director with immediate effect. Malcolm has over 35 years' experience in international agribusiness through his various roles at Hillsdown Holdings (then HMTF Group), and through building Benchmark from the initial start-up into a major international aquaculture technology business serving the global salmon, shrimp, tilapia and farmed fish industries. Is New 90 Day High Low • Dec 16
New 90-day low: UK£0.27 The company is down 39% from its price of UK£0.45 on 17 September 2020. The British market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 37% over the same period. Is New 90 Day High Low • Nov 12
New 90-day low: UK£0.36 The company is down 25% from its price of UK£0.48 on 14 August 2020. The British market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 29% over the same period. Tillkännagivande • Nov 11
OTAQ plc (LSE:OTAQ) acquired assets of ROS Technology Limited for £0.3 million. OTAQ plc (LSE:OTAQ) acquired assets of ROS Technology Limited for £0.3 million on November 9, 2020. The consideration is paid in cash and funded through internal cash resources. The consideration comprises initial consideration of £0.22 million and up to a further £0.075 million of deferred consideration, payable in two installments of £0.0375 million over the next two years. As part of the acquisition, Peter will join OTAQ and have responsibility for the continued development of the acquired ROS Technology products as well as joining the existing OTAQ R&D team.
OTAQ plc (LSE:OTAQ) completed the acquisition of assets of ROS Technology Limited on November 9, 2020. Tillkännagivande • Oct 30
OTAQ plc to Report First Half, 2020 Results on Nov 26, 2020 OTAQ plc announced that they will report first half, 2020 results on Nov 26, 2020 Is New 90 Day High Low • Oct 19
New 90-day low: UK£0.40 The company is down 26% from its price of UK£0.54 on 21 July 2020. The British market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 11% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: UK£0.43 The company is down 27% from its price of UK£0.59 on 26 June 2020. The British market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 3.0% over the same period. Tillkännagivande • Jul 25
OTAQ plc to Report Fiscal Year 2020 Results on Jul 27, 2020 OTAQ plc announced that they will report fiscal year 2020 results on Jul 27, 2020 
