BGTI Bgenuinetec

 

TIDMBGTI 
 
RNS Number : 2269Q 
BgenuineTec Inc. 
30 July 2010 
 

FOR IMMEDIATE RELEASE 
 
July 30, 2010 
 
 
 
                                BgenuineTec Inc 
                        ("BgenuineTec" or the "Company") 
 
                                    Placing 
 
BgenuineTec Inc, the Japanese developer of biometric fingerprint authentication 
technology, is pleased to announce that it has successfully raised JPY 42 
million (approximately GBP308,000) through the issue of 7 million new shares in 
the Company ("Shares") at yesterday's mid market price of JPY 6 per Share 
(approximately 4.4p per Share) (the "Placing Shares") to provide additional 
working capital for the Company (the "Placing").  Admission to trading on AIM of 
the Placing Shares ("Admission") is expected to be on or about 4 August 2010. 
 
Fuji Digital Imaging Co. Ltd. ("Fuji Digital"), a company in which BgenuineTec's 
Chairman, Mr Taketoshi Kashiwabara, is both Chairman and a shareholder, is 
subscribing for 4,430,000 Shares as part of the Placing.  In addition, Mr 
Taketoshi Kashiwabara is subscribing for 1,570,000 Shares in the Placing.  As a 
result of the Placing, Fuji Digital has a beneficial interest in 9,460,000 
Shares being 10.49 per cent of the total issued Shares in the capital of the 
Company and Mr Kashiwabara has a beneficial interest in an aggregate of 
47,769,285 Shares being 52.99 per cent of the total issued Shares in the capital 
of the Company. 
 
Mr Kashiwabara, a director and the Chairman of BgenuineTec, is deemed to be a 
related party in connection with the Placing in accordance with Rule 13 of the 
AIM Rules. The Directors of the Company, other than Mr Kashiwabara, consider, 
having consulted with the Company's Nominated Adviser, Charles Stanley 
Securities, the terms of the transaction to be fair and reasonable insofar as 
its shareholders are concerned. 
 
Commenting on the developments, Mr Taketoshi Kashiwabara, Chairman of 
BgenuineTec, said:  "The Placing provides an important injection of working 
capital which will support the company's continued growth." 
 
Following Admission of the Placing Shares the total number of Shares in issue 
will be 90,153, 821 
 
Exchange Rate Used 1GBP: 136.20 
 
 
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 / Carl Holmes 
 
Cubitt Consulting+44 (0) 20 7367 5100 
Chris Lane / Nicola Krafft 
 
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 
 
 IOEUROBRRSABORR 
 

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