UQM TECHNOLOGIES, INC. (AMEX:UQM) announced today that its Chief Executive Officer, William G. Rankin, and its Chief Financial Officer, Donald A. French, have each adopted a Rule 10b5-1 stock trading plan.
Rule 10b5-1 stock trading plans permit officers, directors and other employees of public companies who may periodically be in possession of material non-public information about the company to adopt written, pre-arranged stock trading plans when they are not in possession of material, non-public information. Such plans establish parameters for future stock transactions to automatically take place, which may be modified or rescinded by the person adopting the plan only in limited circumstances. These plans are designed to minimize the market effect of insider stock sales by spreading them out over an extended period of time thereby avoiding concerns over whether such individuals might possess material, non-public information at the time of a particular transaction.
Under the plans, Mr. Rankin may sell up to 101,500 shares of common stock or 8.8 percent of his holdings and Mr. French may sell up to 26,614 shares of common stock or 3.3 percent of his holdings. Sales under Messrs. Rankin and French’s plans may begin on February 28, 2008 and March 10, 2008, respectively, should sales conditions stated in each respective plan be met.
The new stock trading plans replace plans implemented last year by Messrs. Rankin and French under which up to 101,500 and 96,614 shares, respectively, could have potentially been sold. No shares were sold under either of these trading plans prior to their expiration date.
UQM Technologies, Inc. is a developer and manufacturer of power dense, high efficiency electric motors, generators and power electronic controllers for the automotive, aerospace, medical, military and industrial markets. A major emphasis of the Company is developing products for the alternative energy technologies sector including propulsion systems for electric, hybrid electric, plug-in hybrid electric and fuel cell electric vehicles, under-the-hood power accessories and other vehicle auxiliaries and distributed power generation applications. The Company's headquarters, engineering and product development center, and motor manufacturing operation are located in Frederick, Colorado. For more information on the Company, please visit its worldwide website at www.uqm.com.
This Release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. These statements appear in a number of places in this Release and include statements regarding our plans, beliefs or current expectations, including those plans, beliefs and expectations of our officers and directors with respect to, among other things the development of markets for our products and the adequacy of our cash balances and liquidity to meet future operating needs. Important Risk Factors that could cause actual results to differ from those contained in the forward-looking statements are contained in our Form 10-Q filed January 30, 2008, which is available through our website at www.uqm.com or at www.sec.gov.
Contacts:
Donald A. French, 303-278-2002
or
BPC
Financial Marketing
John Baldiserra, 800-368-1217
