Dionics, Inc. Completes Transition To New Board
December 3, 2009 (FinancialWire) — Dionics, Inc., (OTCBB: DION) a semiconductor / micro-electronics manufacturer best known for its high-reliability PV (photo-voltaic) MOSFET-Drivers, announced the November 25, 2009 filing of an SEC form 8-K that reports completion of the SEC-required notification process for appointing two new “change-of-control” members to its board of directors.
Central Mega Ltd., the British Virgin Islands-based company that recently gained a 62 percent ownership position through the purchase of 13-million shares of Dionics, Inc. common stock, has now seen their appointment of Jeff Teng and Roy Teng, its two new director-appointees, become effective as a result of the just-completed SEC-mandated 10-day notification process.
A “change-of-control” requires that the appointment of the new “control” directors cannot be considered effective until 10-days following written notification being sent to share-holders of record. As reported in the above-referenced form 8-K, that process has now been completed, resulting in the two new CML-appointed directors thereby representing “control” of the three-person Dionics, Inc. Board.
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