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31st May 2022 7:00 am EQS Cycling Event Tracking Contract with NTT
OTAQ, the marine technology products and solutions group for the global aquaculture, offshore energy and the sport and leisure industries, announces the continuation of its relationship with NTT Ltd following the award of a contract to deliver OTAQ’s bespoke precision tracking devices for a major cycling event in France. NTT Ltd is part of a £70bn revenue technology communications group.
The OTAQ trackers will be used to precisely monitor the location of the in-race vehicles and other support vehicles used by the race organiser.
The tracker technology was initially acquired through the acquisition of ROS Technology by OTAQ in November 2020, and was fully commercialised in 2021 through the development of prototypes and the completion of successful client field trials, culminating in the delivery of over 500 trackers for a major motorcycling event, also in association with NTT. OTAQ is continuing its product development programme to broaden the applications for this technology. The Board sees considerable market opportunities for OTAQ's tracking technology, not only in the sports events sector but also in other industries where the monitoring and management of mobile assets can be critical.
Phil Newby, Chief Executive at OTAQ, commented: “Competitive sport is a fantastic proving ground for our technology to demonstrate its tolerance and durability. This commercial contract follows extensive trials across differing environments and endorses our approach to developing the product suite for different applications and markets using our core technology. We look forward to continuing our relationship with NTT in the future.”
Tim Wade, Vice-President, Advance Technology Group at NTT, added: “OTAQ’s tracking device gives us very high precision tracking of assets without the need for costly additional infrastructure compared to the alternatives. Accuracy is key in competitive environments where precision has a significant bearing on both the quality of the competition and its safety.”
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
0797 122 1972 or 07748 325 236 ...
https://www.lse.co.uk/rns/OTAQ/cycling-event-tracking-contract-with-ntt-trdf1kh9rf23n1h.html
31st May 2022 7:00 am EQS Cycling Event Tracking Contract with NTT
... 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 and Finland.
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.
https://www.lse.co.uk/rns/OTAQ/cycling-event-tracking-contract-with-ntt-trdf1kh9rf23n1h.html
Been reading up on NTT
They provide digital tracking for the Tour De France ( RNS wording "NTT Ltd following the award of a contract to deliver OTAQ’s bespoke precision tracking devices for a major cycling event in France".)
Also provide tracking for the Isle of Man TT ( RNS wording delivery of over 500 trackers for a major motorcycling event, also in association with NTT)
So in the bag .... Tour De France and the Isle of Man TT.
Next up, from the RNS .... "The Board sees considerable market opportunities for OTAQ's tracking technology, not only in the sports events sector but also in other industries where the monitoring and management of mobile assets can be critical."
That is only one division of the company.
Thanks for that useful research, Coffeecups.
Winning the tracker technology contract for the Tour de France, the world's pre-eminent bicycle race, is more than just a feather in OTAQ's cap - it's a major coup.
A sign of the quality of OTAQ's products, and the effectiveness of the company's marketing and sales.
NTT Ltd is part of a £70bn revenue technology communications group, so significant additional NTT tracking technology business could could also potentially come OTAQ's way.
And having such a prestigious contract can only help OTAQ sales with other products and companies too.
Hello all, I'm a new investor in OTAQ has the share spread always been so big? It's currently 13%.
Totally agree with previous posts there are exciting times ahead for the company.
Hi Hebridean9.
Sometimes the spread has been even bigger.
I recall that in March of last year, when the mid price was 28p, the 'headline' spread was 26p - 30p: i.e. a spread of 14.3%.
Large spreads are common for penny shares, though it is often possible to deal inside the 'headline' spread.
And the great multibagger gains from backing a successful growth stock from its lows can easily blow away spread costs.
The best shares can potentially rise 1,000% + long term.
That said, this share is quite illiquid (at the moment at least, though that can change), so is more suitable for buy-&-hold investing than short term trading, but I think that it has the quality and value to be worth holding long term.
And illiquidity is a double-edged sword: it can help to fuel a rise, due to the lack of available stock.
That's why it can be a good idea to try to accumulate a good stake at the lows.