16th Apr 2009 07:00
DIRECTOR'S DEALING
Pennington, NJ - April 16, 2009 -- Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT") announces that it received notification yesterday that Dr. George W. Taylor, Executive Chairman, has sold over the period April 13-15, 2009 a total of 50,000 shares of common stock at prices ranging from US$5.78 per share to US$6.17 per share.
Following this sale Dr. Taylor holds 764,801 shares representing 7.5% of the Company's issued share capital.
About Ocean Power Technologies
Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) is a pioneer in wave-energy technology that harnesses ocean wave resources to generate reliable, clean, and environmentally-beneficial electricity. OPT has a strong track record in harnessing wave energy and participates in a $150 billion annual power generation equipment market. The Company's proprietary PowerBuoy® system is based on modular, ocean-going buoys that capture and convert predictable wave energy into low-cost, clean electricity. The Company is widely recognized as the leading provider of on-grid and autonomous wave-energy generation with its energy systems benefiting from over a decade of in-ocean experience. OPT's technology and systems are insured by Lloyds Underwriters of London. OPT is headquartered in Pennington, New Jersey with offices in Warwick, UK. More information can be found at www.oceanpowertechnologies.com.
Contact information:
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Ocean Power Technologies, Inc. Mark R. Draper, Chief Executive Officer Charles F. Dunleavy, Chief Financial Officer |
Telephone: +1 609 730 0400 Telephone: +1 609 730 0400 |
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Nomura Code Securities Limited Juliet Thompson, Richard Potts |
Telephone: +44 20 7776 1200 |
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Media Contact in United Kingdom: Corfin Communications Neil Thapar, Martin Sutton |
Telephone: +44 20 7977 0020 |
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