BGTI Bgenuinetec

 

TIDMBGTI 
 
RNS Number : 8999L 
BgenuineTec Inc. 
14 May 2010 
 

FOR IMMEDIATE RELEASE 
14 MAY 2010 
 
 
                                BgenuineTec Inc 
                        ("BgenuineTec" or the "Company") 
 
                                Issue of Equity 
 
BgenuineTec, the Japanese developer of biometrics fingerprint authentication 
technology, is pleased to announce that it has successfully raised JPY 
21,000,000 (approximately GBP152,000) through the issue of 3,000,000 new 
ordinary shares ("the Placing Shares") at a price of JPY 7 per share 
(approximately 5p per share), being the average closing mid market price of the 
Company's shares within the last 30 days, to provide additional working capital 
for the Company. 
 
The Placing Shares have been placed with Taketoshi Kashiwabara, Chairman of the 
Company and the placing is therefore considered to be a related party 
transaction for the purpose of AIM Rule 13. In this regard, having consulted 
with the Company's nominated adviser, Charles Stanley Securities, the Directors 
of the Company, other than Taketoshi Kashiwabara, consider that the terms of the 
transaction are fair and reasonable insofar as the shareholders of BgenuineTec 
are concerned. 
 
Following the issue of the Placing Shares, Mr Kashiwabara's holding in the 
Company has increased to 46,199,285 ordinary shares representing 55.56 per cent. 
of the Company's issued share capital. 
 
Application has been made for the 3,000,000 new ordinary shares to be admitted 
to trading on AIM and it is expected that admission will take place on 19 May 
2010. 
 
The new ordinary shares will rank pari passu with the existing shares of the 
Company. Following this allotment, the total issued share capital of the Company 
will increase to 83,153,821 ordinary shares. 
 
Exchange Rate Used 1GBP: 137.89 
 
For further information, please contact: 
 
BgenuineTec Inc 
Taketoshi Kashiwabara Japan                          +81-3-5652-0321 
(Chairman) 
Toshiya Kurita Japan                                      +81-3-5652-0321 
(Chief Financial Controller) 
 
Charles Stanley Securities+44 (0) 20 7149 6000 
Nominated Adviser 
Russell Cook / Dugald J. Carlean 
 
Cubitt Consulting+44 (0) 20 7367 5100 
Chris Lane / 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 
 
 IOEUOUVRRAAVAAR 
 

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