Dynex Announces Proposed Equity Transaction 2
Lincoln, England, May 8, 2006 -- Dynex Power Inc., a leading, independent power semiconductor company, today announced that it has received approval from the TSX Venture Exchange for the issuance of 137,939 Common Shares to certain directors of the Company. These shares are being issued in lieu of fees payable to these directors of the Company for the period from July 1, 2005 to December 31, 2005 at an effective price of $0.2955 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.
For more information:
Dr. Paul Taylor
President and Chief Executive Officer
Chief Financial Officer
Dynex Power Inc.
Tel: UK +44 1522 500500