22nd Jul 2005 17:14
Ocean Power Technologies Inc22 July 2005 Ocean Power Technologies, Inc GRANT OF OPTIONS Pennington, NJ, USA, 22 July 2005 - Ocean Power Technologies, Inc ("OPT" or the"Company") (London Stock Exchange: AIM-OPT), announces that on 17 June 2005,options to purchase 270,000 shares of common stock under the Company's 2001Stock Plan were granted to certain Directors of the Company. The options weregranted to the Directors as follows: G Taylor (CEO) 135,000 exercisable through 17 June 2010 at US $1.31 per shareFollowing this award, Dr. Taylor holds options for 4,035,000 shares. C Dunleavy (CFO) 135,000 exercisable through 17 June 2015 at US $1.19 per shareFollowing this award, Mr. Dunleavy holds options for 2,067,500 shares. For further information, please contact: Dr. George W. Taylor, Charles F. Dunleavy,Chief Executive Officer Chief Financial OfficerTelephone: (609) 730-0400 Telephone: (609) 730-0400E-mail: [email protected] E-mail: [email protected] Michael Brennan, Evolution Securities Robert Speed, Gavin Anderson Co.Telephone: +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 without the enhancements of tax credits orsubsidies. For further information, see the Company's website:www.oceanpowertechnologies.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Optima Health