Executive Chairman adopts 10b5-1 trading plan

 

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: [phone]      | 
| Officer                                |                                 | 
+----------------------------------------+---------------------------------+ 
| Nomura Code Securities Limited         |                                 | 
| Juliet Thompson, Richard Potts         | Telephone: [phone]     | 
+----------------------------------------+---------------------------------+ 
|                                        |                                 | 
| Media Contact:                         |                                 | 
| Corfin Communications                  |                                 | 
| Neil Thapar, Claire Norbury            | Telephone: [phone]     | 
|                                        |                                 | 
+----------------------------------------+---------------------------------+ 
 
 
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This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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