LONDON - OTAQ Plc, a technology company serving the aquaculture and offshore industries, has announced that its shareholders have approved the cancellation of the company's Ordinary Shares from trading on the AQSE Growth Market. The decision was made during a General Meeting held today, with a significant majority voting in favor of the move.
The company's shares will cease trading on the AQSE Growth Market effective 7:00 a.m. on December 23, 2024. The resolutions passed include not only the delisting but also the re-registration of OTAQ as a private limited company, to be known as OTAQ Limited, along with the adoption of new articles of association.
The vote results for the cancellation showed 96.7% in favor, with 74,399,102 votes for and 2,868,468 votes against. The same percentage of votes was cast in favor of the company's re-registration as a private limited entity and the adoption of the new articles of association.
The steps toward delisting and re-registration as a private company were detailed in a circular distributed to shareholders on November 22, 2024, which is also available on the company's website. The move to go private and the subsequent changes in the company’s structure are based on decisions made by the shareholders during the General Meeting.
OTAQ has not disclosed the reasons behind the decision to delist and re-register as a private company in the press release. The company has made this information public following regulations that require the disclosure of inside information for transparency and to ensure that all market participants have access to the same information.
This announcement is based on a press release statement and is intended to provide shareholders and the public with the facts surrounding OTAQ's upcoming changes in its trading status and corporate structure.
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