Optima Health Regulatory News (OPT)

6 Mar 2007 07:03

Ocean Power Technologies Inc06 March 2007 NEWS RELEASE------------------------------------------------------ Ocean Power Technologies, Inc. 1590 Reed Road Pennington, New Jersey 08534 USA For Immediate Release 6 March 2007 Director's Dealing Ocean Power Technologies, Inc ("OPT" or the "Company") (London Stock Exchange:AIM-OPT) announces that it received notification that Dr. George W. Taylor,Chief Executive Officer and Director of the Company, exercised options topurchase 150,000 shares of its common stock of US $.001 each ("Common Stock")under the Company's 2001 Stock Plan. The weighted average exercise price of thestock options was US $0.85 per share of Common Stock, and Dr. Taylor tendered74,561 shares previously held by him, in consideration for the option exercise.Dr. Taylor has sole beneficial interest in the shares acquired upon exercise.Following this exercise of options, Dr. Taylor holds options over 4,335,000shares of Common Stock and has beneficial interest in 8,683,449 shares of CommonStock representing 16.7 percent of the Company's shares of Common Stock inissue. Accordingly, the Company has allotted an additional 75,439 shares of CommonStock and application will be made to the AIM Market of the London StockExchange ("AIM") for the admission to trading of the newly issued shares ofCommon Stock. These shares rank pari passu with the Company's existing CommonStock. Dealings on AIM are expected to commence by 13 March 2007. Following this listing, the Company will have 51,863,380 Common shares in issue. 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 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. This information is provided by RNS The company news service from the London Stock Exchange