The Common Stock grants to non-executive Directors are
in connection with their annual fee for service on OPT's Board of
Directors. In accordance with the Board compensation program, the
non-executive Directors each received the number of shares worth
$10,000 based on the closing market price of $8.01 on the Nasdaq market
on the date of grant. The shares were granted to the Directors as
follows:
Seymour S. Preston III (non-executive Director): 1,248 shares which
vests 50% at the time of grant and 50% one year later. Following this
award, Mr. Preston holds options for 11,500 shares, and owns 6,184
shares of OPT's Common Stock, representing approximately 0.06% of the
shares in issue.
Sir Eric Ash (non-executive Director): 1,248 shares which vests 50%
at the time of grant and 50% one year later. Following this award, Mr.
Ash holds options for 18,250 shares, and owns 4,248 shares of OPT's
Common Stock, representing approximately 0.04% of the shares in issue.
Thomas J. Meaney (non-executive Director): 1,248 shares which vests
50% at the time of grant and 50% one year later. Following this award,
Mr. Meaney holds options for 5,000 shares, and owns 6,696 shares of
OPT's Common Stock, representing approximately 0.07% of the shares in
issue.
Paul F. Lozier (non-executive Director): 1,248 shares which vests
50% at the time of grant and 50% one year later. Following this award,
Mr. Lozier holds options for 9,000 shares, and owns 8,121 shares of
OPT's Common Stock, representing approximately 0.08% of the shares in
issue.
With respect to these Common Stock grants, the Company has allotted
4,992 shares of Common Stock and application has been made to the AIM
market of the London Stock Exchange ('AIM') for the admission to
trading of these 4,992 shares of Common Stock. These shares rank pari
passu with the Company's existing shares of Common Stock and dealings
on AIM are expected to commence on October 10, 2008.
Following this listing the Company will have 10,215,346 Common shares in issue.
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.
