5th Oct 2005 07:00
Ocean Power Technologies Inc05 October 2005 NEWS RELEASE------------------------------------------------------ Ocean Power Technologies, Inc. 1590 Reed Road Pennington, New Jersey 08534 USA ADDITIONAL LISTING OF SHARES Pennington, NJ, USA, 05 October 2005 - Ocean Power Technologies, Inc ("OPT" orthe "Company") (London Stock Exchange: AIM-OPT). Pursuant to a previousagreement between the Company and a group of investors, the Company has issued27,322 shares of common stock of US $.001 each ("Common Stock"). This increasein the total Common Stock outstanding was made at a pre-determined price of US$1.83 per share. Accordingly, the Company has allotted 27,322 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 27,322 shares of Common Stock. Theseshares rank pari passu with the Company's existing shares of Common Stock anddealings on AIM are expected to commence on 11 October 2005. Following this listing the Company will have 51,562,775 in issue. For further information, please contact: Dr. George W. Taylor, Chief Executive Charles F. Dunleavy, Chief FinancialOfficer OfficerTelephone: (609) 730-0400 Telephone: (609) 730-0400E-mail: [email protected] E-mail: [email protected] Michael Brennan, Evolution Securities Ken Cronin, Gavin Anderson &Limited CompanyTelephone: +44 207 071 4300 Telephone: +44 207 554 1400 Background Information Ocean Power Technologies, Inc. OPT is the world's first publicly listed wave power company. It iscommercialising its proprietary technology for the generation of electricalpower using the energy of ocean waves. OPT's wave energy systems are based onmodular, buoy-like structures, called PowerBuoysTM, which are "intelligent"systems capable of responding to differing wave conditions. The Company'socean-tested systems have the potential to provide cost competitive, cleanelectrical power on a large scale. For further information, see the Company'swebsite: www.oceanpowertechnologies.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Optima Health