Optima Health Regulatory News (OPT)

13 Dec 2006 07:02

Ocean Power Technologies Inc13 December 2006 Ocean Power Technologies, Inc. 1590 Reed Road Pennington, New Jersey 08534 USA For Immediate Release December 13, 2006 ANNUAL MEETING AND PROXY MATERIALS Ocean Power Technologies, Inc ("OPT", or "the Company") (LSE:AIM-OPT), announced today that the annual meeting of shareholders of the Companywill be held on Friday, January 12, 2007, at 10:00 a.m. local time, at theCompany's headquarters at 1590 Reed Road, Pennington, New Jersey 08534 USA. Atthe annual meeting, shareholders will be asked to consider and vote upon (i) there-election of five directors to the Company's Board; (ii) a proposal to approvethe change of the Company's state of incorporation from New Jersey to Delaware;and (iii) a proposal to approve the adoption of the Company's 2006 StockIncentive Plan. On November 13, 2006, the Company filed a registration statement with the USSecurities and Exchange Commission to register up to US $100 million in sharesfor a proposed public offering of the Company's common stock in the UnitedStates. The Company will apply to list the shares to be sold in the offering onThe NASDAQ Global Market and on the AIM market of the London Stock Exchange. Theproposals to approve the reincorporation in Delaware and to adopt a new stockincentive plan are being submitted to shareholders in order to satisfy certainNASDAQ listing requirements and to otherwise facilitate the proposed USoffering. Shareholders of record as of the close of business on December 7, 2006 areentitled to notice of, and to vote at, the Company's annual meeting. The Companyis today mailing to all shareholders of record as of that date proxy materialsdescribing in detail the matters to be considered at the annual meeting. Allshareholders (whether record or beneficial holders) may request a copy of theCompany's proxy materials by contacting the Company at info@oceanpowertech.com.Copies of the proxy materials will also be available for inspection at theoffices of Collins Stewart Europe Limited, 9th Floor, 88 Wood Street, LondonEC2V 7QR, UK. A registration statement relating to the securities proposed to be sold in apublic offering of the Company's common stock in the US has been filed with theSecurities and Exchange Commission but has not yet become effective. Thesesecurities may not be sold nor may offers to buy be accepted prior to the timethat the registration statement becomes effective. This announcement and theCompany's proxy materials relating to the annual meeting of shareholders shallnot constitute an offer to sell or the solicitation of an offer to buy nor shallthere be any sale of these securities in any state or jurisdiction in which suchoffer, solicitation or sale would be unlawful prior to registration orqualification under the securities laws of any such state or jurisdiction. 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. For further information, please contact: Ocean Power Technologies, Inc Dr. George W. Taylor, Chief Executive Officer Telephone: +1 609 730 0400Charles F. Dunleavy, Chief Financial Officer Telephone: +1 609 730 0400 Corfin Communications Ben Hunt, Neil Thapar Telephone: +44 20 7929 8989 This information is provided by RNS The company news service from the London Stock Exchange