8th Feb 2007 16:55
AIM08 February 2007 ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH AIM RULE 2 ALL APPLICANTS MUST COMPLETE THE FOLLOWING: COMPANY NAME:Ocean Power Technologies, Inc. ("OPT" or the "Company") COMPANY ADDRESS:1590 Reed Road, Pennington, New Jersey COMPANY POSTCODE:NJ 08534 COUNTRY OF INCORPORATION:U.S.A. COMPANY BUSINESS OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTMENT STRATEGY TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (J) OF THE AIM RULES:OPT develops and is commercialising proprietary systems that generate electricity by harnessing the renewable energy of ocean waves. OPT focuses on its proprietary PowerBuoy(R) technology, which captures wave energy using large floating buoys anchored to the sea bed and converts the energy into electricity using innovative power take-off systems. DETAILS OF SECURITIES TO BE ADMITTED (i.e. where known, number of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):Number of shares: TBANominal value: US$0.01 per shareIssue price: TBA CAPITAL TO BE RAISED ON ADMISSION:On November 13, 2006, the Company filed a registration statement with the US Securities and Exchange Commission to register up to US$100 million in shares for a proposed public offering (the "Offering") of the Company's common stockin the United States and the United Kingdom. The Company will apply to list the shares to be sold in the Offering on the NASDAQ Global Market and on the AIM market of the London Stock Exchange. FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS:Sir Eric Albert Ash, DirectorThomas Jay Meaney, DirectorSeymour Stotler Preston III, ChairmanDr. George William Taylor, Chief Executive OfficerCharles Frederick Dunleavy, Chief Financial Officer PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL BEFORE AND AFTER ADMISSION:Before Admission: Number of Ordinary Shares % of Existing Ordinary Shares Dr George W. Taylor 8,602,579 16.6JoAnne E. Burns 4,225,746 8.2RAB Capital 3,995,000 7.7Henderson Global Investors 3,730,870 7.3Merrill Lynch Investment Managers 2,421,903 4.6Lansdowne Partners 1,850,000 3.6 Following Admission: To be advised NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:N/A ANTICIPATED ACCOUNTING REFERENCE DATE:30 April EXPECTED ADMISSION DATE:early March 2007 NAME AND ADDRESS OF NOMINATED ADVISER:Collins Stewart Europe Limited, 9th Floor, 88 Wood Street, London EC2V 7QR NAME AND ADDRESS OF BROKER:Collins Stewart Europe Limited, 9th Floor, 88 Wood Street, London EC2V 7QR DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:N/A DATE OF NOTIFICATION:8 February 2007 NEW/ UPDATE (see note):NEW QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING: THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S SECURITIES HAVE BEEN TRADED:AIM THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED:31 October 2003 CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT HAS ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED IN HAVING ITS SECURITIES TRADED UPON SUCH A MARKET:The Directors of OPT confirm that following due and careful enquiry, OPT has adhered to all legal and regulatory requirements involved in having its securities traded on AIM AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH THE APPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS (IN CONSEQUENCE OF HAVING ITS SECURITIES SO TRADED) ARE AVAILABLE:Collins Stewart Europe Limited, 9th Floor, 88 Wood Street, London EC2V 7QR DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTMENT STRATEGY:The principal purposes of the NASDAQ listing and associated Offering are toobtain additional capital resources to construct demonstration wave powerstations and to fund minority investments in wave station projects to encouragemarket adoption of OPT wave power stations; to fund the continued developmentand commercialisation of OPT's proprietary PowerBuoy system, including increasesin system output; to expand OPT international sales and marketing capabilities;and for working capital and general corporate purposes, including potentialacquisitions of complementary businesses, products or technologies. A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF THE APPLICANT, WHICH HAS OCCURRED SINCE THE END OF THE LAST FINANCIAL PERIOD FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED:N/A A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE THAT THE WORKING CAPITAL AVAILABLE TO IT OR ITS GROUP WILL BE INSUFFICIENT FOR AT LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION:The Directors of OPT have no reason believe that the working capital available to the Company will be insufficient for at least 12 months from the date of its Admission DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES:N/A A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S SECURITIES:To settle the securities quoted on AIM, the Directors of OPT will apply forDepositary Interests, representing the Common Shares of OPT, to be admitted toCREST from Admission. Accordingly, settlement of transactions in the DepositaryInterests following Admission will take place within the CREST system. A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S SECURITIES:http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001378140&owner=include&count=40 INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS NOT CURRENTLY PUBLIC:N/A A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL REPORT AND ACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR END NOT MORE THEN NINE MONTHS PRIOR TO ADMISSION AND INTERIM RESULTS WHERE APPLICABLE. THE ACCOUNTS MUST BEPREPARED IN ACCORDANCE WITH ACCOUNTING STANDARDS PERMISSIBLE UNDER AIM RULE 19:The unaudited interim accounts for the half year ended 31 October 2006 ("InterimAccounts") and audited financial statements for the years ending 30 April 2004,2005, 2006, which have been prepared to US GAAP, are available in the AmendmentNo.1 to Form S-1 at section F1 headed 'Index to Consolidated FinancialStatements' at: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001378140&owner=include&count=40. The Interim Accounts are also available at: http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1396415&source=RNS THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY:N/A This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Optima Health