Optima Health Regulatory News (OPT)

16 Apr 2007 07:02

Ocean Power Technologies Inc16 April 2007 NEWS RELEASE------------------------------------------------------ Ocean Power Technologies, Inc. 1590 Reed Road Pennington, New Jersey 08534 USA For Immediate Release April 16, 2007 OCEAN POWER TECHNOLOGIES ANNOUNCES FURTHER DETAILS REGARDING THE ONE-FOR-TEN SHARE CONSOLIDATION As previously announced, Ocean Power Technologies, Inc. ("OPT" or the "Company")(London Stock Exchange: AIM-OPT), will effect a one-for-ten reverse stock splitas of the close of the AIM market on 20 April 2007. OPT's common stock willbegin trading on a reverse split basis on 23 April 2007. IT WILL NOT BE NECESSARY FOR SHAREHOLDERS TO EXCHANGE THEIR EXISTING COMMONSTOCK CERTIFICATES. Shareholders may, however, exchange their certificatesthrough the Company's registrar, Computershare Limited if they so choose. Untilsurrendered, after the reverse stock split is effective, certificatesrepresenting outstanding shares of OPT's common stock will be treated by OPT forall corporate purposes as evidencing one-tenth of such number of shares asthough the surrender and exchange of certificates had taken place. Any shareholders who have questions may contact Computershare's UK help line at+44 (0)870 703 6184. The Company will also file an application with regards to the consolidatedshares with the AIM Market. 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 release contains certain forward-looking statements within the meaning ofSection 21E of the Securities Exchange Act of 1934, as amended. We intend theseforward-looking statements to be subject to the safe harbor created by thatprovision. These forward-looking statements involve risks and uncertainties andinclude, but are not limited to, statements regarding future events and ourplans, goals and objectives. Our actual results may differ materially from thesestatements. Although we believe the assumptions underlying the forward-lookingstatements are reasonable, any of the assumptions could prove to be inaccurate.Therefore, we can give no assurances that the results contemplated in theseforward-looking statements will be realized. The inclusion of thisforward-looking information should not be regarded as a representation by theCompany or by any person that the future events, plans or expectationscontemplated by our Company will be achieved. Furthermore, past performance inoperations and share price is not necessarily predictive of future performance. 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 This information is provided by RNS The company news service from the London Stock Exchange