Listing: TSX Venture Exchange
Symbol: DNX
LINCOLN, England,
Computershare, the Company's registrar, informed Dynex that all of the 40,195,714 shares that were available through the exercise of rights had been taken up and exercised by
A spokesman for the Company, said that the Management, Board of Directors and majority shareholder, Zhuzhou CSR Times Electric Co., Ltd. were all very gratified with the results of the rights issued and highly appreciative of the strong support from the minority shareholders. The spokesman also said that the Company was eager to put the money to work and looks forward to the successful completion of the expansion and upgrade of the Company's fabrication facility for silicon chips to be used in IGBT modules. The existing line, which processes 4-inch diameter silicon, is being replaced by two 6-inch lines. The installation of the two new lines will increase capacity approximately tenfold to help Dynex take advantage of the significant opportunities in
About the Company
Dynex designs and manufactures high power bipolar semiconductors, high power insulated gate bipolar transistor (IGBT) modules, high power electronic assemblies and radiation hard silicon-on-sapphire integrated circuits (SOS IC's). The Company's power products are used worldwide in power electronic applications including electric power transmission and distribution, renewable and distributed energy, marine and rail traction motor drives, aerospace, electric vehicles, industrial automation and controls and power supplies. Its IC products are used in demanding applications in the aerospace industry. Dynex Semiconductor Ltd is its only operating business and is based in Lincoln, England in a facility housing the fully integrated silicon fabrication, assembly and test, sales, design and development operations. Dynex is majority owned by Zhuzhou CSR Times Electric Co., Ltd.
Zhuzhou CSR Times Electric Co., Ltd. is based in Hunan Province in the People's Republic of
Press announcements and other information about Dynex are available at www.dynexsemi.com.
Further information on CSR Times Electric can be found at www.timeselectric.cn/en
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information: Dr. Paul Taylor, President and Chief Executive Officer; or Bob Lockwood, Finance Director and Chief Financial Officer, Dynex Power Inc., Tel: +44 1522 500 500, Email: [email protected]
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