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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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