16th Feb 2007 16:49
Ocean Power Technologies Inc16 February 2007 Ocean Power Technologies, Inc. 1590 Reed Road Pennington, New Jersey 08534 USA For Immediate Release 16 February 2007 Director's Dealing Ocean Power Technologies, Inc ("OPT" or the "Company") (London Stock Exchange:AIM-OPT) announces that it received notification that Mr. Seymour S. PrestonIII, a non-executive Director of the Company, exercised options to purchase15,000 shares of its common stock of US $.001 each ("Common Stock") under theCompany's 2001 Stock Plan. The weighted average exercise price of the stockoptions was US $0.77 per share of Common Stock. Mr. Preston has sole beneficialinterest in the shares acquired upon exercise. Following this exercise ofoptions, Mr. Preston holds options over 80,000 shares of Common Stock and hasbeneficial interest in 49,369 shares of Common Stock representing 0.1 percent ofthe Company's shares of Common Stock in issue. In addition, options for 6,000 shares of Common Stock have been exercised by athird party at an average price of US $1.10 per share of Common Stock. Accordingly, the Company has allotted 21,000 shares of Common Stock andapplication will be made to the AIM Market of the London Stock Exchange ("AIM")for the admission to trading of the newly issued shares of Common Stock. Theseshares rank pari passu with the Company's existing Common Stock. Dealings on AIMare expected to commence by 22 February 2007. Following this listing, the Company will have 51,787,941 Common shares in issue. For further information, please contact: Ocean Power Technologies, Inc Telephone: +1 609 730 0400Dr. George W. Taylor, Chief Executive Officer Telephone: +1 609 730 0400Charles F. Dunleavy, Chief Financial Officer Corfin Communications Telephone: +44 20 7929 8989Ben Hunt, Neil Thapar 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. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Optima Health