Dynex Announces Equity Transaction 3
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.
For more information:
Dr. Paul Taylor
President and Chief Executive Officer
Finance Director and Chief Financial Officer
Dynex Power Inc.
Tel: UK +44 1522 500 500