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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bgenuinetec | LSE:BGTI | London | Ordinary Share | JP3420970000 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMBGTI RNS Number : 6159E BgenuineTec Inc. 23 December 2009 FOR IMMEDIATE RELEASE 23 December 2009 BgenuineTec Inc (AIM: BGTI) ("BgenuineTec" or "the Company") IP TRANSFER FROM BEYONDLSI IN JAPAN AND BUSINESS ALLIANCE WITH SHENYANG BEYONDLSI, INC. IN CHINA BgenuineTec Inc. ("BGT") has signed an agreement with BeyondLSI Inc. ("BLJ") for a cash consideration of approximately 20 million Yen (GBP136,573*) for the right to use the fingerprint authentication algorithm licensed by BLJ. The agreement will enable BGT to market its products in both Japan and the USA in the knowledge that they are fully protected by the patented algorithm used in them. BGT has also entered into a business alliance in China with Shenyang BeyondLSI, Inc. ("BLC") in which it has agreed to pay royalties in respect of gross profits that it generates through the sale of the patented products in China. This business alliance will lead BGT to focus on the marketing and sales of secure products, such as fingerprint LSI chips and modules, mobile phone fingerprint security, secure door locks and Smart card match-on-cards, containing this patented technology and their applications for the Chinese market, particularly the module business in the banking and financial sectors. In addition, under the terms of the agreement, BLC will be permitted to purchase BGT products and sell these to customers in Japan and the United States and shall pay BGT a royalty on any licensed products BLC sells directly to customers in these markets. Hiroaki Kunieda and Dongju Li, both Directors of BGT, past directors of BLJ, shareholders in BLC and, in respect of Dr Kunieda, a party to the business alliance agreement, are deemed to be related parties in accordance with Rule 13 of the AIM Rules. The Directors of the Company, other than Dr. Kunieda and Dr Li, having consulted with BgenuineTec's Nominated Adviser, Charles Stanley Securities, consider that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned. *An exchange rate of GBP1 = JPY 146.44 has been used for the currency conversion BgenuineTec Inc Taketoshi Kashiwabara Japan +81-3-5652 -0321 (Chairman) Charles Stanley SecuritiesUK +44 (0) 20 7149 6000 Nominated Adviser Russell Cook / Freddy Crossley Cubitt Consulting UK +44 (0) 20 7367 5100 Brian Coleman-Smith / James Verstringhe / 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 MSCKGMZZNFFGLZG
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