Listing: TSX Venture Exchange
Symbol: DNX
Supplementary Statement on OSC Proceedings Against Dynex Director
Lincoln, England, May 16, 2007 - Dynex Power Inc., a leading,
independent power semiconductor company, today released the following
supplementary statement in relation to the Ontario Securities
Commission’s proceedings against Deborah Weinstein:
“We
understand that as part of its investigation of AiT Advance Information
Technologies Corporation, the Ontario Securities Commission is
considering whether Ms Weinstein acted incorrectly in relation to the
timing of making information on the discussions public and if so whether
a prohibition against Ms. Weinstein acting as a Director and Officer of
a reporting issuer would be in the public interest. Were they so to
conclude, Ms Weinstein would be required to resign as a director of
Dynex Power Inc.”
A spokesman for the Company commented,
“Deborah Weinstein is our longest serving director and has provided
excellent legal advice, as well as wise advice on good governance and on
commercial matters to the Company. We would be sad if we were to lose
her services as a director. The Board would be weaker as a result. We
understand that Ms Weinstein intends to defend her actions vigorously”
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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