January 18, 2019 WelchGroup

WelchGroup Consulting Provides Fairness Opinion on Privatization Transaction

WelchGroup Consulting Inc. (“WelchGroup”), a subsidiary of Welch LLP, is pleased to announce that it acted as an Independent Financial Advisor to the Special Committee to the Board of Directors of Dynex Power Inc. (TSXV: DNX), a leading, high power semiconductor company whose operations are in the United Kingdom, to provide a fairness opinion of the privatization transaction with Zhuzhou CRRC Times Electric Co., Ltd (“CRRC Times Electric”).

WelchGroup was selected a part of a competitive process for the engagement, whereby CRRC Times Electric, or one of its affiliates, will acquire all the DNX’s common shares that it does not already own for $0.65 per share in cash. CRRC Times Electric currently holds approximately 75% of the issued and outstanding common shares in the capital of DNX.

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