1st Feb 2006 07:00
Ocean Power Technologies Inc01 February 2006 NEWS RELEASE Ocean Power Technologies, Inc. 1590 Reed Road Pennington, New Jersey 08534 USA For Immediate Release GRANT OF OPTIONS Pennington, NJ, USA, 1 February 2006 - Ocean Power Technologies, Inc ("OPT", orthe "Company") (London Stock Exchange:AIM-OPT), a leading renewable energytechnology company that is commercialising its off-shore wave-powered electricalgeneration systems, announces that on 30 January 2006 options to purchase 50,000shares of common stock under the Company's 2001 Stock Plan were granted tonon-executive Directors of the Company. The options were granted to Directors asfollows: E. Ash (non-executive) 25,000 shares exercisable through 30 January 2011 at$1.27 per share. Following this award, Sir Eric Ash holds options for 132,500shares. S. Preston (non-executive) 25,000 shares exercisable through 30 January 2011 at$1.27 per share. Following this award, Mr. Preston holds options for 110,000shares. 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, Ken Cronin, Evolution Securities Ltd. Gavin Anderson & CompanyTelephone: +44 207 071 4310 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