18th May 2007 09:03
Ocean Power Technologies Inc18 May 2007 NEWS RELEASE------------------------------------------------------ Ocean Power Technologies, Inc. 1590 Reed Road Pennington, New Jersey 08534 USA For Immediate Release May 18, 2007 Additional Listing of Shares Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT)("OPT" or the "Company") announces that pursuant to the Company's 2001 StockPlan, options over 2,100 shares of common stock of US$0.001 each ("CommonStock") have been exercised at an average price of US$7.70 per share of CommonStock. Accordingly, the Company has allotted 2,100 shares of Common Stock andapplication has been made to the AIM market of the London Stock Exchange ("AIM")for the admission to trading of these 2,100 shares of Common Stock. These sharesrank pari passu with the Company's existing shares of Common Stock and dealingson AIM are expected to commence on May 24, 2007. Following this listing the Company will have 10,188,354 Common shares in issue. About Ocean Power Technologies Ocean Power Technologies, Inc. develops and is commercializing proprietarysystems that generate electricity by harnessing the renewable energy of oceanwaves. The Company's PowerBuoy(R) system is based on modular, ocean-going buoys,which have been ocean tested for nearly a decade. The waves move the buoy-likestructure creating mechanical energy that the Company's proprietary technologiesconvert into electricity. For Further information, please contact: Ocean Power Technologies, Inc Dr. George W. Taylor, Chief Executive Officer Telephone: +1 609 730 0400Charles F. Dunleavy, Chief Financial Officer Telephone: +1 609 730 0400 Corfin Communications Telephone: +44 20 7929 8989Ben Hunt, Neil Thapar This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Optima Health