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14 Oct 2009 07:00
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DIRECTOR'S DEALING
Pennington, NJ -Ā October 14, 2009 --Ā Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT"Ā or the "Company")Ā announces that on October 13, 2009 it received notificationĀ thatĀ Seymour S. Preston III, a director of the Company, madeĀ anĀ open market purchase, on October 13, 2009,Ā ofĀ 3,000 shares ofĀ OPT's common stockĀ at US$5.50 per share.Ā
Following these transactions, Mr.Ā PrestonĀ holds options for 10,000 shares, andĀ owns 11,246Ā shares of OPT's Common Stock, representing approximately 0.11% of the shares in issue.
About Ocean Power Technologies
Ocean Power Technologies, Inc.Ā (Nasdaq: OPTT and London Stock Exchange AIM: OPT) is a pioneer in wave-energy technology that harnesses ocean wave resources to generate reliable, clean and environmentally-beneficial electricity.Ā OPT has a strong track record inĀ the advancement ofĀ wave energy and participates in a $150 billion annual power generation equipment market. The Company's proprietary PowerBuoyĀ® system is based on modular, ocean-going buoys that capture and convert predictable wave energy into low-cost, 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's technology and systems are insured by Lloyds Underwriters of London. OPT is headquartered inĀ Pennington,Ā New JerseyĀ with offices inĀ Warwick,Ā UK. More information can be found atĀ www.oceanpowertechnologies.com.
Contact information:
|
Ocean Power Technologies, Inc. Mark R. Draper, Chief Executive Officer Charles F. Dunleavy, Chief Financial OfficerĀ |
Telephone: +1 609 730 0400 Telephone: +1 609 730 0400 |
|
Nomura Code Securities Limited Juliet Thompson,Ā Richard Potts |
Telephone: +44 20 7776 1200 |
|
Media Contact:Ā Corfin CommunicationsĀ Neil Thapar, Martin Sutton,Ā Claire Norbury |
Telephone: +44 20 7977 0020 |
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