Executive Chairman adopts 10b5-1 trading plan
20 4월 2010 - 3:00PM
UK Regulatory
TIDMOPT
RNS Number : 4367K
Ocean Power Technologies Inc
20 April 2010
OCEAN POWER TECHNOLOGIES EXECUTIVE CHAIRMAN ADOPTS
10b5-1 TRADING PLAN
Pennington, New Jersey - April 20, 2010 - Ocean Power Technologies, Inc.
(Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT" or the "Company")
announces that its Executive Chairman, Dr. George W. Taylor, has established a
plan to sell shares of OPT common stock in accordance with Rule 10b5-1 under the
Securities and Exchange Act of 1934. Under the plan, Dr. Taylor may sell under
pre-arranged terms up to 75,000 shares owned by him (approximately 11% of his
OPT share holdings and representing approximately 0.7% of OPT's issued share
capital) in open market transactions at regular monthly intervals until
September 1, 2010.
Forward-Looking Statements
This release may contain "forward-looking statements" that are within the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements reflect the Company's current expectations about its
future plans and performance, including statements concerning the impact of
marketing strategies, new product introductions and innovation, deliveries of
product, sales, earnings and margins. These forward-looking statements rely on a
number of assumptions and estimates which could be inaccurate and which are
subject to risks and uncertainties. Actual results could vary materially from
those anticipated or expressed in any forward-looking statement made by the
Company. Please refer to the Company's most recent Form 10-K for a further
discussion of these risks and uncertainties. The Company disclaims any
obligation or intent to update the forward-looking statements in order to
reflect events or circumstances after the date of this release.
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, clean and environmentally-beneficial electricity. OPT has a
strong track record in the advancement of wave energy and participates in a $150
billion annual power generation equipment market. The Company's proprietary
PowerBuoy 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 in Pennington, New Jersey with offices in Warwick, UK. More
information can be found at www.oceanpowertechnologies.com.
**********
Contact information:
+----------------------------------------+---------------------------------+
| Ocean Power Technologies, Inc. | |
| Charles F. Dunleavy, Chief Executive | Telephone: +1 609 730 0400 |
| Officer | |
+----------------------------------------+---------------------------------+
| Nomura Code Securities Limited | |
| Juliet Thompson, Richard Potts | Telephone: +44 20 7776 1200 |
+----------------------------------------+---------------------------------+
| | |
| Media Contact: | |
| Corfin Communications | |
| Neil Thapar, Claire Norbury | Telephone: +44 20 7977 0020 |
| | |
+----------------------------------------+---------------------------------+
******
This information is provided by RNS
The company news service from the London Stock Exchange
END
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