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Stock Market & Financial Investment News

News Breaks
November 6, 2012
14:51 EDTEBIXEbix corrects 'misleading' CEO stock ownership data in article
Ebix issued a press release in response to investor queries on its President & CEO Robin Raina's share ownership mentioned in a Bloomberg article published recently. The company stated: "The article seems to leave readers with the understanding that Mr. Raina had sold all his ownership in Ebix with the exception of 415,889 shares of Ebix. The Bloomberg article states "Raina owned about 3.5 million shares of Ebix, accounting for 9 percent of the company's shares, as of June 22, according to data compiled by Bloomberg. He held 415,889 shares as of Sept. 27." The Company confirms that the numbers mentioned in the Bloomberg article are completely erroneous and do not conform to Mr. Raina's current beneficial ownership at 3,671,560 shares, as mentioned in the 2012 Proxy statement filed by the Company. The Company also asserts that Mr. Raina has not sold any shares since our Proxy was filed on October 10."
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September 2, 2014
07:33 EDTEBIXEbix purchases new buildings in India
Ebix announced that it has completed the purchase of two new buildings in Noida, India, in the Export Processing Zone of the Govt. of India. The company paid for the purchase using its own cash reserves in June. The company also announced that it has received a 100 percent tax-exempt status for these new buildings, until 2019, under the Software Export Zone, or SEZ, Act of the Govt. of India, after which the company is entitled to a 50% tax-free status in India until 2024. With this new purchase, the company now has a total of 10 offices in India spread across Noida, Chennai, Coimbatore, Nagpur, Hyderabad and Bangalore. Ebix presently employs in excess of 1,200 employees in India. These buildings will facilitate the Company's near- and long-term growth and acquisition plans and the associated need for offshore development and BPO resources.
August 25, 2014
07:32 EDTEBIXEbix intends to repurchase $80M of shares over next 12 months
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August 20, 2014
07:45 EDTEBIXEbix announces new headquarters, building purchase in Johns Creek Park
Ebix announced that it has purchased property in Johns Creek Technology Park which will serve as the company's new headquarters and corporate campus. Ebix purchased 11.6 acres of land and 100,000 sq. ft. of office space for $12.5M. As announced earlier, the company paid for the purchase using its own cash reserves in June. The company hopes to achieve cost and operational efficiencies while moving a few of its 25 offices into this one location while integrating multiple Atlanta offices into this prospective world-class campus. The company intends to do so, while creating a world-class work environment and facility that can serve as a showcase for presenting all its products and services under one roof. Johns Creek Technology Park, located in Fulton Co. and central to the city's business environment, is a master-planned, mixed use 1,900-acre community and home to leading technology-focused businesses and several Fortune 500 companies.

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