6th Oct 2008 16:13
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Ocean Power Technologies, Inc. 1590 Reed Road Pennington, New Jersey 08534 USA |
For Immediate Release October 6, 2008
RESULTS OF ANNUAL MEETING OF ShareHOLDERS
Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT" or the "Company") announces today that its annual meeting of shareholders was held on October 2, 2008. All resolutions were passed, including the election of the Board of Directors. Sir Eric Ash, non-executive director of OPT, did not stand for re-election. The Board of Directors of the Company expressed its appreciation for his many years of service on the Board of Directors and his dedication to the Company's success.
Forward-Looking Statements
This release may contain "forward-looking statements" that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company's current expectations about its future plans and performance, including statements concerning the impact of marketing strategies, new product introductions and innovation, deliveries of product, sales, earnings, and margins. These forward-looking statements rely on a number of assumptions and estimates which could be inaccurate and which are subject to risks and uncertainties. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company's most recent Form 10-K for a further discussion of these risks and uncertainties. The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.
About Ocean Power Technologies
Ocean Power Technologies (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 renewable energy market. The Company's proprietary PowerBuoy® system is based on modular, ocean-going buoys that capture and converts 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. Dr. George W. Taylor, Chief Executive Officer Charles F. Dunleavy, Chief Financial Officer |
Telephone: +1 609 730 0400 Telephone: +1 609 730 0400 |
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Media Contact in United States: Edelman Mona J. Walsh Media Contact in United Kingdom: Corfin Communications Neil Thapar Collins Stewart Europe Limited Adrian Hadden |
Telephone: +1212 704 4598 Email: [email protected] Telephone: +44 20 7977 0020 Telephone: +44 20 7523 8350 |
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