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20 Dec 2010 07:00
DIRECTOR'S DEALING
Pennington, NJ - December 20, 2010 -- Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT" or the "Company") announces that it received notification on December 17, 2010 that Dr. George W. Taylor, Executive Chairman and Director of OPT, had sold, on December 16 and December 17, 2010, a total of 47,000 shares of common stock at prices ranging from US$5.51 per share to US$5.85 per share. These transactions are in connection with estate planning initiatives undertaken by Dr. Taylor.
Following this sale Dr. Taylor holds 573,801 shares, representing 5.5% of the Company's issued share capital.
About Ocean Power Technologies
Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) is a pioneer in wave-energy technology that harnesses ocean wave resources to generate reliable and clean and environmentally-beneficial electricity. OPT has a strong track record in the advancement of wave energy. The Company participates in a $150 billion annual power generation equipment market. OPT's proprietary PowerBuoy® system is based on modular, ocean-going buoys that capture and convert predictable wave energy into clean electricity. The Company is widely recognized as a leading developer of on-grid and autonomous wave-energy generation systems, benefiting from over a decade of in-ocean experience. OPT is headquartered in Pennington, New Jersey with an office in Warwick, UK. More information can be found at www.oceanpowertechnologies.com.
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Contact information:
Ocean Power Technologies, Inc. Charles F. Dunleavy, Chief Executive Officer Brian M. Posner, Chief Financial Officer |
Telephone: +1 609 730 0400
|
Nomura Code Securities Limited Juliet Thompson, Richard Potts |
Telephone: +44 20 7776 1200 |
Media Contact: Corfin Public Relations Neil Thapar, Claire Norbury
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Telephone: +44 20 7596 2860 |
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