Optima Health Regulatory News (OPT)

3 May 2007 07:02

Ocean Power Technologies Inc03 May 2007 NEWS RELEASE------------------------------------------------------ Ocean Power Technologies, Inc. 1590 Reed Road Pennington, New Jersey 08534 USA For Immediate Release May 3, 2007 OCEAN POWER TECHNOLOGIES ANNOUNCES UNRESTRICTED COMMON SHARES TO BE SETTLED ELECTRONICALLY Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT)("OPT" or the "Company") announces that with effect from 24 April 2007, CRESTmembers have been able to hold and transfer interests in the Company's commonstock (the 'Common Shares') (ISIN US6748703088) within CREST, pursuant to aDepositary Interest arrangement established by the Company. The Common Shares are not themselves to be admitted to CREST; rather the Companyhas arranged for Computershare Investor Services PLC (the 'Issuer') to issueDepositary Interests in respect of the underlying Shares (the 'DepositaryInterests'). These Depositary Interests may be held and transferred withinCREST. If CREST members wish to hold Depositary Interests in CREST, they can do so byinputting a stock deposit in the usual way. The Company has informed CRESTCothat (1) a CREST transfer form or dematerialisation form lodged as a stockdeposit will be deemed to constitute a transfer of the Common Shares to theIssuer, who will issue corresponding Depositary Interests in CREST to thedepositing member/transferee; and (2) in a similar way, a stock withdrawal willbe deemed to constitute an instruction to the Issuer to cancel the DepositaryInterest and effect a transfer of the Common Shares to the person specified inthe instruction. About Ocean Power Technologies Ocean Power Technologies, Inc. develops and is commercializing proprietarysystems that generate electricity by harnessing the renewable energy of oceanwaves. The Company's PowerBuoy(R) system is based on modular, ocean-going buoys,which have been ocean tested for nearly a decade. The waves move the buoy-likestructure creating mechanical energy that the Company's proprietary technologiesconvert into electricity. For further information, please contact: Ocean Power Technologies, Inc Telephone: +1 609 730 0400Dr. George W. Taylor, Chief Executive Officer Telephone: +1 609 730 0400Charles F. Dunleavy, Chief Financial Officer Corfin Communications Telephone: +44 20 7929 8989Ben Hunt, Neil Thapar This information is provided by RNS The company news service from the London Stock Exchange