Listing: TSX Venture Exchange
Symbol: DNX
Dynex Announces Equity Transaction
Lincoln, England, January 18, 2007 -- 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 been issued in lieu of fees payable to these directors of the
Company for the period from July 1, 2006 to December 31, 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.
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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