Supplementary Statement on OSC Proceedings Against Dynex Director
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”