BGTI Bgenuinetec

 

TIDMBGTI 
 
RNS Number : 4318T 
BgenuineTec Inc. 
05 June 2009 
 

FOR IMMEDIATE RELEASE 
05 June 2009 
 
 
BgenuineTec Inc 
(AIM: BGTI) 
("BgenuineTec" or "the Company") 
 
 
ALLIANCE WITH NESTAGE CO. LTD 
 
 
25 MILLION YEN FUND RAISING 
 
 
BgenuineTec, the Japanese developer of biometrics fingerprint authentication 
technology,  announces an alliance with NESTAGE CO LTD ("NESTAGE") to develop 
its secure client management system and fingerprint authentication for video 
gaming. 
 
 
BgenuineTec has provided a 20 million yen (approximately GBP129,422.) loan to 
NESTAGE on 30 April 2009. The loan is repayable on 30 October 2009 and carries 
an annual interest rate of 3%. 
 
 
NESTAGE's main business includes distributing TV games, including wholesale 
sales of game-related products, direct retail and franchises. NESTAGE has 502 
stores, consisting of 213 franchise and 264 semi-franchise shops and 25 stores 
under direct management. The BgenuineTec and NESTAGE alliance will develop a new 
network client management system with fingerprint authentication for the sales 
promotion of video game software in NESTAGE. 
 
 
Mr. Kashiwabara and Dr. Kunieda, Chairman and Chief Executive of BgenuineTec 
respectively, were appointed as non executive directors of NESTAGE on 30 May 
2009. Under Rule 13 of the AIM Rules, the loan will be a related party 
transaction. The Directors of BgenuineTec, excluding Mr. Kashiwabara and Dr. 
Kunieda, consider, having consulted with its Nominated Adviser Charles Stanley 
Securities, that the terms of the transaction are fair and reasonable insofar as 
its shareholders are concerned. 
 
 
BgenuineTec also announces that it has raised 25 million yen (approximately 
GBP161,778) by way of the issue of 2,500,000 new ordinary shares (the "New 
Shares") at a price of 10 yen per share (approximately 6.5p per share) (the 
"Subscription"). 
 
 
The shares are expected to be admitted to trading on AIM on 11 June 2009. 
Taketoshi Kashiwabara, the Chairman of BgenunieTec, is subscribing for 
25,000,000 million new ordinary shares and as such is under Rule 13 of the AIM 
Rules a related party transaction. The Directors, with the exception of Mr 
Kashiwabara, consider, having consulted with its nominated adviser Charles 
Stanley Securities, that the terms of the transaction are fair and reasonable 
insofar as its shareholders are concerned. 
Following approval and admission Mr Kashiwabara will have a beneficial interest 
in  35,109,285  ordinary shares being 52.7 per cent of the total issued ordinary 
share capital of the Company. 
 
 
Upon admission the total number of ordinary shares in issue will be 66,683,821. 
Exchange Rate Used 1GBP: 154.53 JPY 
 
 
For further information, please contact: 
 
 
BgenuineTec Inc 
Taketoshi KashiwabaraJapan                      +81-3-5652 -0321 
(Chairman) 
Toshiya KuritaJapan                      +81-3-5652 -0321 
(Chief Financial Controller) 
 
 
Charles Stanley Securities                                               +44 (0) 
20 7149 6000 
Nominated Adviser 
Russell Cook / Freddy Crossley 
 
 
Cubitt Consulting                                                            +44 
(0) 20 7367 5100 
Brian Coleman-Smith / James Verstringhe 
 
 
Background Note on BgenuineTec Inc. (formerly Secure Design KK) 
 
 
On 14 July 2006, BgenuineTec Inc.(AIM; BGTI) was the first Japanese company to 
be admitted to trading on AIM. It offers fingerprint authentication products to 
companies and individuals that wish to establish high levels of security using 
biometrics. Biometrics uses a physical attribute of the body, such as a 
fingerprint to identify and verify the individual with the aim of making 
individual authentication efficient and secure. 
 
 
The Company offers a range of fingerprint authentication products and systems, 
from an integrated system to a mobile device. The Company designs and outsources 
the production of these products and can tailor them to individual client 
specific needs and applications. 
 
 
Biometric applications provide convenient and reliable security which reduces 
the cost associated with the failure of conventional authentication methods. The 
principal factor which distinguishes biometrics from conventional password based 
authentication is the enhanced security level it provides while maintaining the 
privacy of individual users. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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