Issue of Equity
28 November 2007 - 2:03PM
UK Regulatory
RNS Number:6834I
Secure Design KK
28 November 2007
FOR IMMEDIATE RELEASE 28 November 2007
Secure Design KK
Issue of equity
Secure Design KK ("Secure Design" or the "Company"), the Japanese developer of
biometrics fingerprint authentication technology, announces that it has raised
50 million yen (approximately #0.22 million) by way of a Subscription by the
issue of 1,250,000 new ordinary shares at a price of 40 yen per share
(approximately 17.9p) 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 December 2007.
Taketoshi Kashiwabara, the Chairman of Secure Design, is subscribing for 500,000
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 26,270,000 ordinary shares being 69.3 per cent of the total issued ordinary
share capital of the Company.
The subscription is subsequent to the statement of 16 October 2007 when the
Company announced that the Company had raised 200 million yen (#0.89 million)
through a subscription of new ordinary shares. The Company also announced on the
16 November 2007 that it had reached agreement to acquire a 53.9% interest in
Beyond LSI Inc. for 73 million yen (#0.33 million) which is expected to be
completed on 12 December 2007.
Upon admission the total number of ordinary shares in issue will be 37,866,700.
Exchange Rate Used 1GBP:224 JPY
For further information, please contact:
Secure Design KK
Taketoshi Kashiwabara Japan +81-3-3516-9303
(Chairman)
Masahiro Nishikawa Japan +81-3-3516-9360
(Executive Vice President, Business Planning)
Kaoru Wako Japan +81-3-3516-9303
(Chief Financial Controller)
Shinil Cho United Kingdom +44 (0) 7738 842 662
(Chief Information Officer) Japan +81-3-3516-9303
United States +1-412-367-7063
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 Secure Design
On 14 July 2006, Secure Design 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.
The worldwide demand for biometrics is estimated to increase from just over $3
billion in 2007 to over $5.6 billion by 2010.*
*Biometrics Market and Industry Report 2007-2012
This information is provided by RNS
The company news service from the London Stock Exchange
END
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