Monday, November 9, 2009

BVI company acquires 62% control of Dionics, Inc

Dionics, Inc., the company manufacturing semiconductors and micro-electronics, announced selling of 62% interest in it to the new investor, British Virgin Islands-registered Central Mega Limited (CML). The BVI company purchased a total of 13 million shares of common stock of Dionics; of this amount, 11 million shares were newly-issued shares purchased from the company. Additional 2 million shares were purchased from company president Bernard L. Kravitz who also signed a two-year employment contract to continue as president and CEO.

All the shares had the price of US$.04 per share, resulting in an initial investment of US$440,000 capital in Dionics, Inc. by CML. This investments are intended to support both current operations as well as future growth.

By words of company's president, Dionics will get entry to the larger markets for its leading product with the help of BVI company's marketing and manufacturing contacts in Asia, and particularly in China.