Listing: TSX Venture Exchange
Symbol: DNX
Dynex Announces Equity Transaction
Lincoln, England, August 14, 2006 -- Dynex Power Inc., a leading,
independent power semiconductor company, today announced that it has
received approval from the TSX Venture Exchange and has issued 571,430
Common Shares to certain directors of the Company. These shares have
being issued in lieu of fees payable to these directors of the Company
for the period from January 1, 2006 to June 30, 2006 at an effective
price of $0.07 per share pursuant to the Company’s outside directors’
share plan. The outside directors’ share plan was adopted and approved
by the shareholders of the Company at the annual and special
shareholders’ meeting of the Company on June 4, 2002.
The
aggregate number of shares available for issuance was increased by
350,000 common shares at the annual and special shareholders’ meeting of
the Company on June 3, 2004 and by a further 1,400,000 common shares at
the annual and special shareholders’ meeting of the Company on June 29,
2006.
About the Company
Dynex is one of the
world’s leading suppliers of specialist, high power semiconductor
products. Dynex Semiconductor Ltd is its main operating business and is
based in Lincoln, England in a facility housing the fully integrated
silicon wafer fabrication, assembly and test, sales, design and
development operations. Dynex designs and manufactures high power
bipolar discrete semiconductors, power modules, including insulated-gate
bipolar transistors (IGBTs), and high power electronic assemblies. Dynex
products are used world wide in power electronic applications including
electric power generation, transmission and distribution, marine and
rail traction drives, aircraft, electric vehicles, industrial automation
and controls. The company continues to produce and sell certain high
reliability integrated circuits (ICs) for use in specialist applications
led by its proven radiation hard Silicon-on-Sapphire products for space
and nuclear applications.
Press announcements and other
information about Dynex are available on the World Wide Web at
http://www.dynexsemi.com.
All monetary values expressed in
this release are in Canadian dollars unless stated otherwise.
The
TSX Venture Exchange has neither approved nor disapproved of the
information in this press release.
For more information:
Dr. Paul Taylor
President and Chief
Executive Officer
or
Bob Lockwood
Finance Director and
Chief Financial Officer
Dynex Power Inc.
Tel: UK +44 1522 500
500
Email: paul_taylor@dynexsemi.com
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