36.4 MILLION YEN FUND RAISING
28 Agosto 2009 - 2:10AM
UK Regulatory
TIDMBGTI
RNS Number : 1703Y
BgenuineTec Inc.
28 August 2009
FOR IMMEDIATE RELEASE
28 August 2009
BgenuineTec Inc
(AIM: BGTI)
("BgenuineTec" or "the Company")
36.4 MILLION YEN FUND RAISING
BgenuineTec, the Japanese developer of biometrics fingerprint authentication
technology, announces that it has raised JPY 36.4 million (approximately
GBP240,169) through the issue of 5.2 million new ordinary shares at a price of
JPY 7 per share (approximately 4.6p per share) to provide additional working
capital for the Company. The Public Notice to shareholders has been released
today and admission to trading on AIM is expected to be on 3 September 2009.
Japan Mergers Capital, Inc is subscribing for 1.6 million new ordinary shares
giving them a beneficial interest in 6.3 million ordinary shares being 8.62 per
cent. of the total issued ordinary share capital of the Company.
Taketoshi Kashiwabara, the Chairman of BgenunieTec, is subscribing for 3.6
million new ordinary shares and, therefore, the subscription 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 39,859,285 ordinary shares being 52.88 per cent of the total issued ordinary
share capital of the Company.
Upon admission the total number of ordinary shares in issue will be 78,383,821.
Exchange Rate Used 1GBP: 151.56 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.
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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