OTAQ shares jump but board unaware of reason for price movement

(Alliance News) - OTAQ PLC shares surged on Tuesday, though its board said that it was not aware of any reason for the stock price movement.

Shares in OTAQ were up 17% to 8.50 pence each in London on Tuesday afternoon.

The Lancaster-based producer of marine technology for offshore oil and gas industries said that it has secured an initial order for its tracker device from an unnamed "UK railway maintenance support services company".

OTAQ explained that the contract is "not material" in the context of its current trading, however it expects the customer to place further orders in the future.

By Sophie Rose; sophierose@alliancenews.com

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