PENNINGTON, N.J.--(BUSINESS WIRE)--Sep. 3, 2009--
Ocean Power Technologies, Inc. (Nasdaq:OPTT)(AIM:OPT) (“OPT” or “the
Company”) has announced that the annual meeting of stockholders of the
Company will be held on Friday, October 2, 2009 at 10:00 a.m. Eastern
Time, at the Company’s headquarters at 1590 Reed Road, Pennington, New
Jersey 08534 USA. At the annual meeting, stockholders will be asked to
consider and vote upon (i) the election of seven directors to the
Company’s Board; (ii) the ratification of the selection of KPMG LLP as
the Company’s independent registered public accounting firm for fiscal
year 2010; and (iii) an amendment to the Company’s 2006 Stock Incentive
Plan to increase the aggregate number of shares authorized for issuance
by 850,000 shares.
Stockholders of record as of the close of business on Wednesday, August
19, 2009 are entitled to notice of, and to vote at, the Company's annual
meeting. The Company has mailed to all stockholders of record as of that
date proxy materials, which include Proxy Statement and Annual Report,
describing in detail the matters to be considered at the annual meeting.
All stockholders (whether record or beneficial holders) may request a
copy of the Company's proxy materials by contacting the Company at info@oceanpowertech.com.
In addition, stockholders may access these documents electronically on
the Company’s website at www.oceanpowertechnologies.com
under the Investor Relations tab. Copies of the proxy materials will
also be available for inspection at the offices of the Company’s
Nominated Adviser, Nomura Code Securities Limited, 1 Carey Lane, London
EC2V 8AE, UK.
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
harnessing 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 the leading developer of on-grid and autonomous
wave-energy generation with its energy 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.
Source: Ocean Power Technologies, Inc.
Ocean Power Technologies, Inc.
Mark R. Draper, Chief
Executive Officer
Telephone: +1-609-730-0400
or
Charles
F. Dunleavy, Chief Financial Officer
Telephone: +1-609-730-0400
or
Nomura
Code Securities Limited
Juliet Thompson, Richard Potts
Telephone:
+44-20-7776-1200
or
Media Contact:
Corfin
Communications
Neil Thapar, Martin Sutton, Claire Norbury
Telephone:
+44-20-7977-0020
