Optima Health Regulatory News (OPT)

22 Jun 2007 09:45

Ocean Power Technologies Inc22 June 2007 June 22, 2007 Directors Dealing Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT)("OPT" or the "Company") announces in compliance with AIM rules that on June 15,2007, options to purchase shares of common stock under the Company's 2006 StockIncentive Plan were granted to Directors of the Company. The option grants tonon-executive Directors are in connection with their annual fee for service onthe Board of Directors. The option grants to executive Directors are inconnection with their annual performance reviews, as recommended by theCompensation Committee of the Board of Directors, and approved by the Board ofDirectors. The options were granted to the Directors as follows: Seymour S. Preston III (non-executive Director): 2,500 shares exercisablethrough June 15, 2017 at US $16.11 per share. Following this award, Mr. Prestonholds options for 10,500 shares. Sir Eric Ash (non-executive Director): 2,500 shares exercisable through June 15,2017 at US $16.11 per share. Following this award, Sir Eric holds options for15,750 shares. Thomas J. Meaney (non-executive Director): 2,500 shares exercisable through June15, 2017 at US $16.11 per share. Following this award, Mr. Meaney holds optionsfor 2,500 shares. Dr. George W. Taylor (CEO): 50,000 shares exercisable through June 15, 2017 atUS $16.11 per share. Following this award, Dr. Taylor holds options for 438,500shares. Charles F. Dunleavy (CFO): 42,000 shares exercisable through June 15, 2017 at US$16.11 per share. Following this award, Mr. Dunleavy holds options for 277,500shares. The exercise price of $16.11 per share is the closing market price on the Nasdaqmarket on June 15, 2007. 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 0400 Dr. George W. Taylor, Chief Executive Officer Telephone: +1 609 730 0400 Charles F. Dunleavy, Chief Financial Officer Corfin Communications Telephone: +44 20 7929 8989 Ben Hunt, Neil Thapar This information is provided by RNS The company news service from the London Stock Exchange